Hackley Hospital Self Insurance Professional Liability Trust
Nonprofit profile at a glance
- EIN
- 382299878
- IRS 990 coverage
- 2010–2015
- Forms available
- Form 990 2015, Form 990-EZ 2009
- Location
- Muskegon, MI, USA
- Phone
- 6166853573
- Rating
- 40
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Insurance Providers
Reported finances
- Revenue
- $6,762
- Expenses
- $3,002
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- ROGER SPOELMAN (DIRECTOR; W. MI REG. PRES. & CEO)
Highest reported compensation
- ROGER SPOELMAN (DIRECTOR; W. MI REG. PRES. & CEO): $1,211,603 total reported compensation
- GREGORY LOOMIS (FORMER OFFICER): $742,598 total reported compensation
- GARY ALLORE (TREASURER; WEST MI REGIONAL CFO): $428,684 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We, mercy health and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities.hackley hospital self insurance professional liability trust is a member of mercy health and trinity health.
What it reported doing in 2015
Hackley hospital merged into mercy health partners on january 1, 2014. Prior to that date, hackley hospital had provided funds to maintain a program of self-insurance for all professional and general liability risks in an irrevocable trust. These funds have been held in a bank trust account and are invested primarily in mutual funds. Hackley hospital has made provisions for the estimated losses in connection with these professional and other liability claims for incidents occurring before the merger, for which amounts can be reasonably estimated, including provisions for claims incurred but not yet reported. As of june 30, 2014, the actuaries have concluded that there are no longer any claims incurred but not yet reported. Therefore, the trust was dissolved on 5/23/16.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
MIXED - 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 a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 67
- Accountability: 86
- Sustainability: 44
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 91.7%; rating input score 92; 27th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 55.6%; rating input score 92; 92nd percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 6,826.2%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -38.9% per year; rating input score 0; 16th percentile among comparable filings
- Asset growth: -6.1% per year; rating input score 0; 25th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 11 of 12 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $1.2M · 19 people listed · 0 of 6 pay-setting controls reported
- Consistency: 11 of 11 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Filing history: 6 filing years from 2010 to 2015
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 342 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Sustainability: Officer compensation ratio scored 0/100.