Heart Center of Greater Waterbury

Nonprofit profile at a glance

EIN
830416893
IRS 990 coverage
2016–2020
Forms available
Form 990 2020
Location
Hartford, CT, USA
Phone
8607144000
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Heart and Circulatory System Diseases, Disorders

Reported finances

Revenue
$10,640
Expenses
$704
Assets
$0
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • KEVIN KNIERY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEVE SCHNEIDER MD (DIRECTOR): $565,423 total reported compensation
  • KEVIN KNIERY (EXECUTIVE DIRECTOR): $226,762 total reported compensation

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

Overview

Mission

A managed service organization that provides administrative support and management functions to the advanced cardiac care program, which offers patients at saint mary's and waterbury hospital immediate access to services such as angioplasty and open-heart surgery.

What it reported doing in 2020

The heart center of greater waterbury filed a certificate of dissolution on december 17, 2020. The activity through september 30, 2021 was to wind down the operations. Prior to dissolution, the heart center of greater waterbury was a partnership between waterbury hospital and saint mary's hospital that offers advanced cardiac care program that provided the community with all types of heart care services, including angioplasty and open heart surgery . The center's cardiologists and cardiothoracic surgeons, among the most experienced in Connecticut, have performed thousands of cardiac procedures for patients in the greater waterbury area. (see schedule o) a full continuum of care was provided through education, awareness, diagnosis, treatment and finally, through the rehabilitation needed to complete the healing process. The heart center of greater waterbury has various community outreach and quality accomplishments as noted below: community outreach accomplishments: - facilitated/managed freedom from smoking clinics. - maintained working relationships with greater waterbury senior centers, neighborhood associations, churches, and community groups for regular heart health programs. - provided community outreach programs including blood pressure screenings, health fairs, individual patient consults, heart health educational presentations by physicians and aprn and community relations activities. - provide support groups for patients recovering from cardiac conditions. - provide diabetic counseling.quality accomplishments: - submitted all required data elements to three separate registries (acc, sts, and ohca) per requirements and have maintained excellent compliance with the quality standards of each. - communicated reported results to key stakeholders.

Operating model

Revenue model
Other-operating. 100% 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 - 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: 58
  • Accountability: 79
  • Sustainability: 47
  • 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: 90.9%; rating input score 91; 16th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 93.4%; rating input score 99; 99th 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: 9,121.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -78.9% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -68.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -78.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $565K · 2 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2016 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 293 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.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.