Edward Health Ventures

Nonprofit profile at a glance

EIN
581672987
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Arlington Heights, IL, USA
Phone
6305273000
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$187,642,626
Expenses
$272,967,018
Assets
$155,018,300
Liabilities
$187,444,668

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

Leadership & pay

38 people listed

Executive titles in this filing

  • Joseph Dant (President, South Region/Trustee)
  • Gerald P Gallagher (System President & CEO)

Highest reported compensation

  • Gerald P Gallagher (System President & CEO): $5,191,626 total reported compensation
  • Douglas D Welday (System Treasurer and CFO): $2,184,620 total reported compensation
  • Zahab Ahsan (Physician): $1,918,197 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

Edward health ventures offers physician services in primary care, obstetrics, medical oncology, rheumatology, neuroscience, nephrology, psychiatry, hospitalists and a variety of surgical specialties. Edward medical group and elmhurst memorial medical group are comprised of 38 physician practices in the western suburbs of chicago, including naperville, aurora, bolingbrook, plainfield, crest hill, lisle, warrenville, oswego, sandwich, yorkville, sycamore, elmhurst, and oak park. Edward health ventures operates 6 walk-in clinics in naperville, aurora, woodridge, yorkville, plainfield, and elmhurst. Edward health ventures operates 5 immediate cares in addison, oak park, hinsdale, oswego, and naperville. Linden oaks medical group, with specialists in child and adult psychiatry, is comprised of 8 physician practice locations including naperville, woodridge, plainfield, st. Charles, yorkville, mokena, oak park and elmhurst.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 56
  • Accountability: 67
  • Sustainability: 9
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 17th 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 19th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -45.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 1.21; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 9% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
  • Governance: 10 of 15 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $257.7M in reported program spending
  • Leadership: top reported pay $5.2M · 38 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $9.5M reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes executive pay and related organizations
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 36 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 — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 14/100.