Foundation of the Massachusetts Eye and Ear Infirmary Inc

Nonprofit profile at a glance

EIN
042785453
IRS 990 coverage
2011–2017
Forms available
Form 990 2017
Location
Boston, MA, USA
Phone
6175733942
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$73,914,360
Expenses
$25,473,246
Assets
$348,073,191
Liabilities
$92,152,576

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • JOHN R FERNANDEZ (PRESIDENT)

Highest reported compensation

  • JOHN R FERNANDEZ (PRESIDENT): $1,372,817 total reported compensation
  • D BRADLEY WELLING MD (DIRECTOR): $1,221,227 total reported compensation
  • KEITH D LILLEMOE MD (DIRECTOR (SINCE 7/18)): $1,079,632 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o.

What it reported doing in 2017

THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSE OF THE MASSACHUSETTS EYE AND EAR INFIRMARY ("THE INFIRMARY"), A TAX-EXEMPT MEDICAL AND SURGICAL HOSPITAL, WHICH PROVIDES PATIENT CARE, RESEARCH AND EDUCATION IN OPHTHALMOLOGY, OTOLARYNGOLOGY AND RELATED SPECIALTIES. THE FOUNDATION RAISES FUNDS, INVESTS FUNDS AND MAKES GRANTS TO THE INFIRMARY. Effective APRIL 1, 2018, the Foundation became part of the comprehensive, integrated healthcare system organization and operated by Partners Healthcare System, Inc, ("Partners") that includes hospitals, physicians, charitable, scientific, educational, research and other Partners affiliated organizations. As part of the system the Foundation will assist and support Partners and the Partners affiliated organizations in fulfilling their mission.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 56
  • Accountability: 76
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 67th 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: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 73.7%; rating input score 74; 24th 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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 65.5%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 13.66; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 11.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.6% of spending went to programs
  • Governance: 14 of 19 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.8M in reported program spending
  • Leadership: top reported pay $1.4M · 25 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $915K reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 7 filing years from 2011 to 2017
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 22 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.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.