Benedictine Foundation

Nonprofit profile at a glance

EIN
411513014
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
7633472200
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,038,378
Expenses
$4,065,332
Assets
$23,509,898
Liabilities
$44,655

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

Leadership & pay

12 people listed

Executive titles in this filing

  • JERRY CARLEY (CEO OF BHS)
  • LAURIE HENNEN (PRESIDENT (THRU 10/2024))

Highest reported compensation

  • JERRY CARLEY (CEO OF BHS): $1,087,851 total reported compensation
  • KEVIN RYMANOWSKI (CFO OF BHS/TREASURER): $600,393 total reported compensation
  • LAURIE HENNEN (PRESIDENT (THRU 10/2024)): $276,606 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 benedictine foundation (formerly benedictine health system foundation) was established to coordinate, encourage, motivate and support the fund development activity effort within benedictine health system and its supported organizations.

What it reported doing in 2024

Benedictine health system (benendictine) is a catholic, faith-based organization entrusted with advancing the life-enhancing senior care ministry of benedictine sisters of duluth, Minnesota. We witness to god's love by creating inclusive communities, supporting those we serve to live well and with purpose, with special concern for the underserved.benedictine foundation was established to coordinate, encourage, motivate and support the fund development efforts within benedictine and its supported organizations through associated foundations and to oversee the optimal investment and management of associated foundations' funds.the benedictine foundation consists of 24 associated foundations, including: villa st. Benedict foundation, lisle, ilbenedictine foundation-ada, mnbenedictine foundation-crookston, mnbenedictine foundation-duluth, mnbenedictine foundation-minneapolis, mnbenedictine foundation-new brighton, mnbenedictine foundation-owatonna, mnbenedictine foundation-red wing, mnbenedictine foundation-rochester, mnbenedictine foundation-shakopee, mnbenedictine foundation-st. Peter, mnbenedictine foundation-winona, mncerenity foundation, mncerenity - humboldt foundation, mncerenity - marian of st. Paul foundation, mncerenity - white bear lake foundation, mnbenedictine foundation-st. Joseph, monazareth living center foundation, mobenedictine foundation-bismarck, ndbenedictine foundation-dickinson, ndbenedictine foundation-ellendale, ndbenedictine foundation-garrison, ndbenedictine foundation-lamoure, ndbenedictine foundation-wahpeton, nd

Operating model

Revenue model
Affiliate-supported. 61% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 69
  • Accountability: 79
  • Sustainability: 54
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.3%; rating input score 67
  • Program expense ratio: 57.8%; rating input score 58
  • Fundraising efficiency: $15.44 raised per $1 spent on fundraising; rating input score 52; 52nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd 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: 99.7%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 14th 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: -0.7%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 5.78; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.3% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 67.3% of revenue deployed · 57.8% of spending went to programs
  • Governance: 8 of 10 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $1.1M · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 48 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 — Financial Efficiency: Program expense ratio scored 58/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 52/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.