Bath Community Hospital Foundation

Nonprofit profile at a glance

EIN: 571137401
IRS 990 coverage: 2013–2024
Forms available: Form 990 2024, Form 990-EZ 2012
Location: Hot Springs, VA, USA
Phone: 5408397000
Rating: 51
Verdict: MIXED
Rating confidence: Moderate
Sector: Single Organization Support

Reported finances

Revenue: $3,615,957
Expenses: $129,892
Assets: $30,955,856
Liabilities: $16,949

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

Leadership & pay

17 people listed

Executive titles in this filing

JEFF LINGERFELT (PRESIDENT/CEO)

Highest reported compensation

JOHN SEDOVY MD (DIRECTOR/SURGEON): $469,176 total reported compensation
JEFF LINGERFELT (PRESIDENT/CEO): $378,815 total reported compensation
TOM VANDENHOVEN (TREASURER/CFO): $245,854 total reported compensation

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

Overview

Mission

See schedule othe foundation is operated exclusively for the benefit and support of bath community hospital (the "hospital") and to assist the hospital in carrying out its charitable purposes. The foundation is responsive to the needs and demands of the hospital. If the hospital ceases to exist, the foundation shall be operated exclusively for the benefit of any qualifying organization which serves the medical health needs of the alleghany highlands and bath county community.

What it reported doing in 2024

The foundation is operated exclusively for the benefit and support of bath community hospital (the "hospital") and to assist the hospital in carrying out its charitable purposes. The hospital draws funds from the foundation based on the hospital's cash requirements to fund operations, capital equipment and capital improvements. Bath community hospital is a named perpetual beneficiary of the lettie pate evans trust. As a named beneficiary, the hospital receives substantial support on an annual basis. The hospital passes this contribution to the foundation, with the intent to grow the foundation to ensure continued and long term support of the hospital.

Operating model

Revenue model: Affiliate-supported. 72% of the money available for current operations came from contributions from related organizations.
Distribution model: Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

Financial Efficiency: 10
Transparency & Controls: 71
Accountability: 91
Sustainability: 87
Growth: 60

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 2.3%; rating input score 2
Program expense ratio: 28.1%; rating input score 28
Fundraising efficiency: Limited

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; 72nd percentile among comparable filings
Major donor itemization: Yes; rating input score 100
Related-party transparency: Limited

Accountability

Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Sustainability

Operating margin: 96.4%; rating input score 99; 99th percentile among comparable filings
Total-asset coverage ratio: 238.32; rating input score 100; 100th percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
Officer compensation ratio: 60.3%; rating input score 1; 1st percentile among comparable filings

Growth

Program expense growth: -0.8% per year; rating input score 0; 11th percentile among comparable filings
Revenue growth: 9.1% per year; rating input score 100; 65th percentile among comparable filings
Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings

Details

Where the money goes: 2.3% of revenue deployed · 28.1% of spending went to programs
Governance: 15 of 15 board members independent · 7 of 9 filing controls reported
Programs: 1 filed program accomplishment · $36K in reported program spending
Leadership: top reported pay $469K · 17 people listed · 0 of 6 pay-setting controls reported
Consistency: 16 of 16 current checks pass
Schedules: 7 filed schedules · includes major donors, grants, and executive pay
Filing history: 11 filing years from 2013 to 2024
Contacts: How to reach this organization
Money network: 1 filed money-flow record
Related organizations: 2 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 — Financial Efficiency: Mission deployment rate scored 2/100.
High — Financial Efficiency: Program expense ratio scored 28/100.
High — Transparency & Controls: Pay-setting controls scored 0/100.
High — Growth: Program expense growth scored 0/100.
Review — Accountability: Governance controls: 2 of 9 not reported.
High — Sustainability: Officer compensation ratio scored 1/100.