Commonspirit Health Operating Investment Pool Llc

Nonprofit profile at a glance

EIN
850919176
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Phoenix, AZ, USA
Phone
4154385500
Rating
41
Verdict
MIXED
Rating confidence
Moderate
Sector
Roman Catholic
Affiliation
Christianity

Reported finances

Revenue
$822,592,553
Expenses
$33,727,482
Assets
$16,709,046,868
Liabilities
$1,555,110,102

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

Leadership & pay

2 people listed

Highest reported compensation

  • DANIEL J MORISSETTE CPA (SEVP, CFO COMMONSPIRIT HEALTH): $5,173,837 total reported compensation
  • LISA ZUCKERMAN (SVP, TREASURY, CAPITAL PLANNING & STRATEGIC INVEST): $3,097,377 total reported compensation

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

Overview

Mission

Commonspirit health operating investment pool, llc ("csh oip") holds and invests the operating capital for commonspirit health ("commonspirit"), a Colorado nonprofit corporation, and many of its related entities, which collectively carry out the religious and healthcare purposes of catholic health care federation and operate consistent with its purposes, are described in section 501(c)(3) of the code and are public charities under 509(a) of the code, and are either directly or indirectly controlled subsidiaries, affiliates of such subsidiaries (such as a joint operating company), or congregations of religious who were the founding religious sponsors of various hospitals within the corporate family.

What it reported doing in 2024

In order to increase operational efficiencies, decrease costs, benefit from economies of scale and access sophisticated institutional asset managers, csh oip holds and manages its members' pooled operating capital (as combined, the "operating pool"). The operating pool holds substantial funds critical to the operations of commonspirit and its subsidiaries. By stewarding and growing the capital through the operating pool, csh oip furthers the ability of commonspirit and its subsidiaries to work to fulfill the objectives associated with catholic health care federation and the church.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - Revenue comfortably covers expenses and program spending has grown recently. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 39
  • Accountability: 26
  • Sustainability: 95
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14.9%; rating input score 15
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 95.9%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 495.41; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 83; 83rd percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 10th percentile among comparable filings
  • Revenue growth: -6.2% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 10th percentile among comparable filings

Details

  • Where the money goes: 14.9% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $33.7M in reported program spending
  • Leadership: top reported pay $5.2M · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 334 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 15/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Revenue growth scored 0/100.