Carle Development Foundation

Nonprofit profile at a glance

EIN
371159978
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Urbana, IL, USA
Phone
2173833311
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$17,396,365
Expenses
$17,804,303
Assets
$113,837,041
Liabilities
$18,719,108

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

Leadership & pay

23 people listed

Executive titles in this filing

  • James C Leonard MD (Ex Officio, Voting // President & CEO)
  • Matthew Kolb JD MHA (Officer - President, Carle Health Regions // EVP, COO)
  • Roger Laramee (Executive Director, Development East Region)
  • Angela Hatfield (Executive Director, Development & Campaigns)
  • Nicole Hayse (Executive Director, Development)

Highest reported compensation

  • James C Leonard MD (Ex Officio, Voting // President & CEO): $2,348,482 total reported compensation
  • Matthew Kolb JD MHA (Officer - President, Carle Health Regions // EVP, COO): $1,752,332 total reported compensation
  • Dennis Hesch (Officer - EVP, Chief Finance & Strategy Officer): $1,507,676 total reported compensation

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

Overview

Mission

To raise funds from the public and other sources, maintain those funds and, as appropriate, expend principal and income to support the carle foundation mission of providing high quality health care and advancing medical research and education in central Illinois.

What it reported doing in 2024

Stephens family innovations in medical research - the stephens family innovations in medical research fund supports research led by carle health clinician scientists in collaboration with university of Illinois researchers. It is designed to directly impact patient care in our community and beyond. These projects also involve medical students at carle Illinois college of medicine and contribute to the training of future generations of physician scientists.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 78
  • Accountability: 76
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.6%; rating input score 95
  • Program expense ratio: 83.2%; rating input score 83
  • Fundraising efficiency: $4.67 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 75%; rating input score 75; 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: -2.3%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 6.39; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 19.5% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 94.6% of revenue deployed · 83.2% of spending went to programs
  • Governance: 9 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $14.8M in reported program spending
  • Leadership: top reported pay $2.3M · 23 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $416K reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 25 filed money-flow records
  • Related organizations: 69 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: Fundraising efficiency scored 19/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.