Grinnell Regional Medical Center Foundation

Nonprofit profile at a glance

EIN
421454737
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Grinnell, IA, USA
Phone
6412367511
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,126,353
Expenses
$666,152
Assets
$8,177,839
Liabilities
$234,879

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DAVID-PAUL CAVAZOS (BOARD MEMBER/CEO (FR 06/24))
  • JENNIFER HAVENS (FRMR CEO (TO 10/23))

Highest reported compensation

  • JENNIFER HAVENS (FRMR CEO (TO 10/23)): $467,361 total reported compensation
  • DAVID-PAUL CAVAZOS (BOARD MEMBER/CEO (FR 06/24)): $235,085 total reported compensation
  • KYLE WILCOX (VP FINANCE (TO 04/24)): $103,465 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 support grinnell regional medical center and community healthcare.

What it reported doing in 2024

The grinnell regional medical center foundation provides valuable guidance and leadership for the grinnell regional medical center's (grmc) fundraising efforts. The foundation manages the endowment and makes loans to grmc to enable grmc to purchase needed medical equipment. The foundation also administers the charitable gift annuity program.

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 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.2%; rating input score 58
  • Program expense ratio: 73.3%; rating input score 73
  • Fundraising efficiency: $6.23 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

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: 99.6%; rating input score 100; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 23rd 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: 40.9%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 12.28; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 17.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 58.2% of revenue deployed · 73.3% of spending went to programs
  • Governance: 10 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $488K in reported program spending
  • Leadership: top reported pay $467K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 81 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 — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.