Corvesta Inc

Nonprofit profile at a glance

EIN
205945158
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Roanoke, VA, USA
Phone
5409898000
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$-1,756,733
Expenses
$34,674,430
Assets
$108,779,654
Liabilities
$11,186,280

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

Leadership & pay

18 people listed

Executive titles in this filing

  • MR FRANK L LUCIA (PRESIDENT & CEO)
  • MS KATHARINE CLAYTOR (VICE PRESIDENT)
  • MS LORA J WILKINSON (VICE PRESIDENT)

Highest reported compensation

  • MR FRANK L LUCIA (PRESIDENT & CEO): $2,105,763 total reported compensation
  • MR R JAMES BARKER (CHIEF FINANCIAL OFFICER): $896,154 total reported compensation
  • MR CHAD MCINTOSH (GENERAL COUNSEL): $679,575 total reported compensation

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

Overview

Mission

Guiding, monitoring and coordinating the activities of its subsidiary, delta dental of Virginia ("ddva") and other affiliated entities, to achieve the tax-exempt health care purposes of ddva in an efficient and integrated manner.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: 0
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 17
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 88.9%; rating input score 89; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2,073.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 3.14; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 18.3%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: 8.9% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $2.1M · 18 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $20.8M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 4 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.