Genesis Healthcare Inc

Nonprofit profile at a glance

EIN
010932846
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Columbia, SC, USA
Phone
8032543676
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Treatment Facilities, Primarily Outpatient

Official website

Reported finances

Revenue
$76,259,788
Expenses
$58,676,438
Assets
$166,771,652
Liabilities
$12,791,780

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

Leadership & pay

31 people listed

Executive titles in this filing

  • Tony R Megna (Chief Executive Officer)

Highest reported compensation

  • Tony R Megna (Chief Executive Officer): $769,611 total reported compensation
  • Paul Fulbright (Senior Executive officer): $498,210 total reported compensation
  • Alexander Cohen (Chief Medical Officer): $497,329 total reported compensation

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

Overview

Mission

To provide timely, affordable, compassionate, and quality primary and preventative medical, dental, and pharmaceutical services to South Carolina's economically and culturally diverse communities.

What it reported doing in 2024

Genesis Healthcare, Inc. ("GHC") is a non-profit community healthcare center deeply committed to improving the health of our community through prevention, early intervention, rehabilitation, and education. a. Our community health centers in Darlington, Olanta, Lamar, Walterboro, and Florence, South Carolina, provide primary healthcare services to patients of all ages. Additionally, our community health center located in Goose Creek, South Carolina provides pediatric healthcare services. As a community health center, GHC is strongly committed to improving the health of its community through prevention, early intervention, rehabilitation and education. The services offered by GHC include: Continued on Schedule O - General Primary Medical Care - Behavioral Health Services - Emergency Medical Services - Diagnostic Laboratory Services - Diagnostic X-rays - Diagnostic Screenings - Ultrasounds and Echocardiography - Bone Density Testing - Care Coordination - Case Management - Immunizations - Gynecological Care - Obstetrics - Medication Management - On-site Pharmacy - Foot Care Clinic - Pharmaceuticals - Pharmacy Services - Pulmonary Function Testing - Transportation to and from Appointments, if needed - Pediatrics - Urology - Substance Abuse Screening, Referral, and Treatment In addition to the above services, GHC implemented a program entitled Case Management. Case Management is a patient management program designed to improve the health of patients with chronic illnesses such as diabetes, high blood pressure, heart disease, asthma, COPD, and high cholesterol. GHC's pharmacy is certified as a specialty pharmacy through both the Utilization Review Accreditation Commission (URAC) and the Accreditation Commission for Health Care (ACHC). Services provided by GHC are available to all community residents, regardless of their financial or insurance status. GHC offers a reduced sliding fee schedule based on an individual's income and family size.

Operating model

Revenue model
Other-operating. 96% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.1%; rating input score 63
  • Program expense ratio: 77.7%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 77th 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: 23.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 2.84; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 86; 86th percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 13.2% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 21.3% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 63.1% of revenue deployed · 77.7% of spending went to programs
  • Governance: 12 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $45.6M in reported program spending
  • Leadership: top reported pay $770K · 31 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $20M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 8 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 24 filed money-flow records
  • Related organizations: 5 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 2/100.