Centerstone Foundation

What it reported doing in 2024

Established in 1992 (originally as the dede wallace foundation), centerstone's foundation exists to generate philanthropic support for centerstone, in support of our mission to "deliver care that changes people's lives." the foundation is accountable to our regional and national compnaies in stewarding, administering and growing philanthropic funding. The foundation is also charged with providing effective stewardship of donors and their giving intentions, as well as growing the organization's planned gifts and endowment. This work is accomplished under the guidance and purview of centerstone's foundation board of directors, which includes leadership members from all centerstone beneficiary organizations, to represent those we serve. The foundation raises philanthropic support through annual, capital and special giving campaigns, and through planning and hosting annual fundraising events in our regional markets. In addition, the foundation applies for and secures private and corporate funding in support of services, clinical innovation and patient care. The funding generated via the foundation's efforts may be reported on the financial statements and form 990s of other centerstone beneficiary organizations, rather than directly on the foundation's financial statements and form 990s. For the year ending june 30, 2025, centerstone's foundation secured more than $5 million in support of our mission's priorities across our system.

Financial Efficiency

• Mission deployment rate: 83.1%; rating input score 83
• Program expense ratio: 87.3%; rating input score 87
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 82.8%; rating input score 83; 22nd 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: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Fail
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 5.4%; rating input score 52; 52nd percentile among comparable filings
• Total-asset coverage ratio: 4.2; rating input score 81; 81st percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 3.2%; rating input score 67; 67th percentile among comparable filings

Growth

• Program expense growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
• Revenue growth: 9.4% per year; rating input score 100; 66th percentile among comparable filings
• Asset growth: 6.7% per year; rating input score 100; 44th percentile among comparable filings