Franciscan Health Foundation Inc

Nonprofit profile at a glance

EIN
351955283
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Mishawaka, IN, USA
Phone
5742733855
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Private Independent Foundations

Reported finances

Revenue
$11,097,847
Expenses
$14,862,925
Assets
$81,035,493
Liabilities
$20,318,157

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

Leadership & pay

5 people listed

Executive titles in this filing

  • KEVIN D LEAHY (PRESIDENT AND TRUSTEE)

Highest reported compensation

  • KEVIN D LEAHY (PRESIDENT AND TRUSTEE): $3,036,555 total reported compensation

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

Overview

Mission

Franciscan health foundation, inc. (the foundation) raises, invests, and disburses contributions to support the programs and services of franciscan alliance, inc. The overarching purpose is to continue the healing ministry of christ in accordance with the teachings of the roman catholic church and in partnership with others to provide a full continuum of health care services; the foundation is dedicated to addressing the ever-growing healthcare needs of our patients and to supporting all franciscan alliance, inc.'s health centers in their commitment to building healthier communities. The funds raised and disbursed by the foundation support the needs of patients without the resources to attain care without regards to age, sex, religion or national origin; increase patient access to medical technology; furthers scientific and medical education opportunities in order to improve care; and promotes wellness within the communities we serve.

What it reported doing in 2024

Franciscan health foundation, inc. Raises, invests, and expends contributions for the benefit of franciscan alliance, inc. The beneficiary's purpose is to promote compassionate care for those in need, respect life and the dignity of persons, wellness and the prevention of illness, restoration to health, and the acceptance of death as the final step towards wellness.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 83
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 43rd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 16th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 5.45; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 88; 88th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 12.4% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $14.8M in reported program spending
  • Leadership: top reported pay $3M · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 24 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 — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.