GraniteOne Health

Nonprofit profile at a glance

EIN: 814663563
IRS 990 coverage: 2016–2023
Forms available: Form 990 2023
Location: Manchester, NH, USA
Phone: 3066683545
Rating: 73
Verdict: SUPPORTED
Rating confidence: Moderate
Sector: Health - General and Rehabilitative N.E.C.

Reported finances

Revenue: $55,000
Expenses: $55,620
Assets: $506,198
Liabilities: $512,698

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

Alexander J Walker Esq (Trustee/COO/CMC CEO)
Cynthia K McGuire FACHE (Trustee/MCH CEO)
Jeremy S Roberge CPA (Trustee/HH CEO)

Highest reported compensation

Alexander J Walker Esq (Trustee/COO/CMC CEO): $1,068,695 total reported compensation
Cynthia K McGuire FACHE (Trustee/MCH CEO): $487,327 total reported compensation
Jeremy S Roberge CPA (Trustee/HH CEO): $444,133 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to provide accessible, patient-centered, high quality care to our communities through exceptional collaboration and integration across the continuum of health.

What it reported doing in 2023

GraniteOne Health operated exclusively to benefit three publicly supported 501(c)(3) New Hampshire hospitals: Catholic Medical Center in Manchester, Huggins Hospital in Wolfeboro, and Monadnock Community Hospital in Peterborough. Its principal purposes in support of these hospitals were to promote savings, improve efficiencies, and enhance patient care services. During the period covered by this Form 990, GraniteOne Health's supported hospitals elected to dissociate from and ultimately dissolve the Organization. Since that election occurred, GraniteOne Health's operations consisted of administrative wind-down procedures and transferring remaining net assets to the supported organizations.

Operating model

Revenue model: Earned-program. 100% 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.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

Financial Efficiency: 89
Transparency & Controls: 67
Accountability: 66
Sustainability: 45
Growth: 40

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 100%; rating input score 100
Program expense ratio: 98.9%; rating input score 99
Fundraising efficiency: Limited

Transparency & Controls

Consistency checks: 100%; rating input score 100; 63rd 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: Limited
Major donor itemization: Limited
Related-party transparency: Yes; rating input score 100

Accountability

Independent voting board: 72.7%; rating input score 73; 23rd percentile among comparable filings
Governance controls: 5 of 9 controls in place; rating input score 56
- 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: Missing
- Independent financial-statement audit: Fail

Sustainability

Operating margin: -1.1%; rating input score 56; 56th percentile among comparable filings
Total-asset coverage ratio: 9.1; rating input score 60; 60th percentile among comparable filings
Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
Officer compensation ratio: 1,064%; rating input score 1; 1st percentile among comparable filings

Growth

Program expense growth: 0.1% per year; rating input score 100; 52nd percentile among comparable filings
Revenue growth: -2% per year; rating input score 0; 54th percentile among comparable filings
Asset growth: -5.1% per year; rating input score 0; 21st percentile among comparable filings

Details

Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
Governance: 8 of 11 board members independent · 5 of 9 filing controls reported
Programs: 1 filed program accomplishment · $55K in reported program spending
Leadership: top reported pay $1.1M · 13 people listed · 0 of 6 pay-setting controls reported
Consistency: 13 of 13 current checks pass
Schedules: 4 filed schedules · includes executive pay and related organizations
Filing history: 8 filing years from 2016 to 2023
Contacts: How to reach this organization
Related organizations: 16 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.
Review — Accountability: Governance controls: 3 of 8 not reported.
High — Growth: Revenue growth scored 0/100.
Review — Sustainability: Operating margin scored 56/100.
High — Growth: Asset growth scored 0/100.
High — Sustainability: Officer compensation ratio scored 1/100.
High — Sustainability: Liabilities to assets ratio scored 5/100.