Headwaters High Value Network Inc

Nonprofit profile at a glance

EIN
993325377
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Grand Forks, ND, USA
Phone
4148281142
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Reported finances

Revenue
$477,381
Expenses
$436,510
Assets
$165,871
Liabilities
$125,000

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

Leadership & pay

8 people listed

People named in this filing

  • Ken Westman (Chairman)
  • Randy Ulseth (Vice-Chairman)
  • Carl Vaagenes (Secretary/Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Headwaters Network enables rural healthcare providers to collaborate on clinical and operational initiatives, enhancing the quality of care, availability, and affordability in rural communities.

What it reported doing in 2024

Headwaters Network was created for the advancement of a sustainable network of rural Minnesota hospitals and clinics that increases quality, pools member resources, manages financial risk and improves community health. Through the network, 18 rural hospitals joined together on clinical and operational fronts, amplifying the accessibility, affordability, and quality of care in Minnesota's rural communities. The organization is a beacon for over 750,000 patients, ensuring they receive nothing but the best care. The organization conducts several activities to achieve its mission including (1) development of a clinically integrated network (CIN), (2) expansion of care management capabilities through innovative collaborations to enhance the continuum of care, and (3) and the creation of shared services. The organization assists facilities in implementing strategies that enhance quality and care coordination based on their patients' specifics needs through ACO Management, Care Coordination, Transition Care Management, and Chronic Care Management. The Headwaters Network empowers its members hospitals to offer continuous care to patients across the network. The CIN Clinical Integration Committee, comprising a practitioner from each member hospital, supervises all clinical and quality initiatives.

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

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: 9
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 41
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10%; rating input score 10
  • Program expense ratio: 10.9%; rating input score 11
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.6%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 10% of revenue deployed · 10.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $48K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $349K reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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 10/100.
  • High — Financial Efficiency: Program expense ratio scored 11/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.