Baptist Health Foundation Corbin Inc

Nonprofit profile at a glance

EIN
473033550
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5028965000
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,227,954
Expenses
$1,121,637
Assets
$4,051,567
Liabilities
$33,808

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Highest reported compensation

  • Richard Carrico (Treasurer): $1,666,118 total reported compensation
  • Janet Norton (Secretary): $1,252,551 total reported compensation
  • Anthony Powers (Pres & Dir (Through 2/8/24)): $626,008 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Baptist Health Foundation Corbin is to assist, advance, strengthen and support its sole member, Baptist Healthcare System, Inc. in their mission and ministry of continuing our Christian heritage of service by enhancing the health of the people and communities we serve. Baptist Health Foundation Corbin will encourage, solicit and receive donations, bequests, gifts and benefactions made to or for the benefit of Baptist Health Corbin hospital, an unincorporated operating division of Baptist Healthcare System, Inc. (BHS). BHS is described under Section 501(c)(3) and is classified under Section 509(a)(1) as a public charity. The foundation is operated exclusively for the benefit of, to perform the functions of, and to carry out the mission and purposes of Baptist Healthcare System, Inc.

What it reported doing in 2024

The primary purpose of the Baptist Health Foundation Corbin is to promote philanthropy and charitable giving to provide resources to assist, advance, and strengthen Baptist Health Corbin, a hospital owned and operated by Baptist Healthcare System, Inc., in fulfilling the mission of the hospital and Baptist Healthcare System, Inc. providing for the region's health needs. Baptist Health Corbin provides medically necessary care to all patients regardless of race, religion, sex, national origin, disability, age or ability to pay. Donations made to Baptist Health Foundation Corbin are used to support patient care and capital needs of Baptist Health Corbin hospital.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 83
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: $21.46 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.2%; rating input score 88; 22nd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.7%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 3.61; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 21.4%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 16.7% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 26.6% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 91.7% of spending went to programs
  • Governance: 15 of 17 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $1.7M · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 16 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.