Franklin Square Hospital Center Inc

Nonprofit profile at a glance

EIN
520608007
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2022
Location
Baltimore, MD, USA
Phone
4107726721
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$655,250,368
Expenses
$646,658,104
Assets
$351,005,136
Liabilities
$61,938,314

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

Leadership & pay

26 people listed

Executive titles in this filing

  • STUART M LEVINE MD (PRESIDENT/DIRECTOR)

Highest reported compensation

  • KENNETH A SAMET (DIRECTOR): $6,562,774 total reported compensation
  • STUART M LEVINE MD (PRESIDENT/DIRECTOR): $1,783,900 total reported compensation
  • DEANA STOUT (CFO/TREASURER): $639,393 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

See schedule omedstar franklin square's largest program is access to and the provision of acute hospital services to the communities of eastern baltimore county, Maryland, and the surrounding areas. In addition to the program service expenses listed above, medstar franklin square incurred $98.2m of management and general expenses in providing services to its communities. As a tertiary care center in northeast baltimore, medstar franklin square continues to recruit neurology, oncology, and integrated surgical service experts. Our labor and delivery service, level 3 nicu, and adult and adolescent behavioral units continue to provide key medical services for eastern baltimore county. Medstar franklin square is proud to have been re-accredited with the joint commission's gold seal of approval for our commitment to providing safe and quality patient care. The american nurses credentialing center (ancc) also re-designated medstar franklin square as magnet for excellence in nursing, making medstar franklin square one of the only hospitals in Maryland to be recognized four times in a row. Medstar franklin square has earned some of the region's and nation's most prestigious honors and, including: the american heart association's "mission: lifeline regional award," the american heart association/american stroke association's "get with the guidelines" stroke gold plus achievement award with target: stroke honor roll elite plus, advanced therapy and target: type 2 diabetes honor roll in addition, baltimore magazine recently recognized 83 medstar health physicians as "top doctors and nine medstar franklin square nurses for excellence in nursing. Us news & world report also recognized medstar franklin square as high performing in heart failure, prostate cancer surgery, chronic obstructive pulmonary disease, and lung cancer surgery. Medstar franklin square also earned the healthiest md business exemplar award and was the first and only emergency department in Maryland to be designated as a lantern award recipient by the emergency nurses association.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program 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.
  • 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. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.7%; rating input score 84
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 1st 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: 97%; rating input score 97; 31st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 58.8%; rating input score 59; 16th 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: 1.3%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 12th percentile among comparable filings

Details

  • Where the money goes: 83.7% of revenue deployed · 84.8% of spending went to programs
  • Governance: 10 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $548.5M in reported program spending
  • Leadership: top reported pay $6.6M · 26 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $15.3M reported
  • Consistency: 32 of 34 current checks pass · 2 findings to review
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 68 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.

  • Review — Accountability: Independent voting board scored 59/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.