Healthcare Options Inc

Nonprofit profile at a glance

EIN
222543620
IRS 990 coverage
2020–2020
Forms available
Form 990 2020
Location
Attleboro, MA, USA
Phone
5082220118
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Home Health Care

Official website

Reported finances

Revenue
$3,885,896
Expenses
$2,607,946
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • Reynold G Spadoni (CEO)
  • Frederick Woll OD (President)
  • Carie Ann Bailey (Vice-President)

Highest reported compensation

  • Reynold G Spadoni (CEO): $400,291 total reported compensation
  • Dawn Sullivan (COO): $208,091 total reported compensation
  • Russell T Dubuc (CFO): $189,895 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide services and resources that enhance the community's capacity to achieve optimal health and quality of life.

What it reported doing in 2020

Code: 621610: Private Home Care Services: The Company provides a wide arrray of in home medical and non-medical services to assist individuals in achieving independent living. Services generally include homemaker and companion services, as well as, skilled nursing and rehab therapy. 123 Clients were served in 2020. Published rates charged are established to cover the costs of providing these services. The Private Care services were terminated on April 17, 2020. Clients were effectively transferred to another provider of these services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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: 43
  • Transparency & Controls: 59
  • Accountability: 100
  • Sustainability: 46
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.8%; rating input score 41
  • Program expense ratio: 60.7%; rating input score 61
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 3rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: 32.9%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 4.8%; rating input score 53; 53rd percentile among comparable filings

Growth

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

Details

  • Where the money goes: 40.8% of revenue deployed · 60.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $400K · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 53/100.