Fairmont Community Hospital Foundation

Nonprofit profile at a glance

EIN
411658658
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fairmont, MN, USA
Phone
5052363397
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$106,907
Expenses
$115,845
Assets
$6,179,989
Liabilities
$65,172

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

Leadership & pay

4 people listed

Executive titles in this filing

  • TIM MILLER (PRESIDENT)

People named in this filing

  • COURTNEY CUTLER (VICE PRESIDE)
  • TIM MILLER (PRESIDENT)
  • LOGAN PEYMANN (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The foundation's mission is to enhance health care through charitable support.

What it reported doing in 2024

The foundation enhances health care by purchasing equipment and supplies for use by fairmont medical center - mayo health system.

Operating model

Revenue model
Investment-supported. 85% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.5%; rating input score 62
  • Program expense ratio: 75.4%; rating input score 75
  • Fundraising efficiency: $1.8 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 82.3%; rating input score 82; 49th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.4%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 53.35; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 61.5% of revenue deployed · 75.4% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $87K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Operating margin scored 24/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.