Health Ventures

Nonprofit profile at a glance

EIN
911350776
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Vancouver, WA, USA
Phone
3607291000
Rating
34
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$9,402,464
Expenses
$52,586
Assets
$52,691,841
Liabilities
$326,325

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MICHAEL P DWYER (President)
  • MELISSA EDWARDS MD (Director / Chief Executive, PHMG)
  • SCOTT FOSTER (Former Director / Chief Executive PHMG (thru 03/24))

Highest reported compensation

  • RICHARD DECARLO (Director/ PH COO/EVP): $3,659,359 total reported compensation
  • DARRIN MONTALVO (Chair/ Vice Pres/ Treas/ PH EVP CFGO): $2,257,793 total reported compensation
  • MICHAEL P DWYER (President): $1,522,508 total reported compensation

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

Overview

Mission

Health ventures is operated primarily for the benefit and purposes of peacehealth, a 501(c)(3) organization, which has been formally recognized as a pontifical private juridic person engaged in the apostolic work of the roman catholic church.

What it reported doing in 2024

Support to peacehealth, a Washington non-profit corporation, which is exempt under section 501(c)(3) of the internal revenue code, which operates a healthcare system in Washington, Oregon and Alaska. The purpose of health ventures is to operate for the benefit of peacehealth.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 2
  • Transparency & Controls: 64
  • Accountability: 32
  • Sustainability: 87
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 3%; rating input score 3
  • Program expense ratio: 0%; rating input score 0
  • 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: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd 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: 99.4%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 1,002.01; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 2,656.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 3% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $3.7M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 25 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 3/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.