Hendrick Anesthesia Network

Nonprofit profile at a glance

EIN
752728889
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Abilene, TX, USA
Phone
3256702000
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, Specialty

Official website

Reported finances

Revenue
$15,276,004
Expenses
$30,994,507
Assets
$979,190
Liabilities
$1,964,715

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Brad Holland (PRESIDENT/CEO)
  • Jeremy Walker (VICE PRESIDENT/CFO)
  • David Stephenson (Vice President)

Highest reported compensation

  • Brad Holland (PRESIDENT/CEO): $1,812,647 total reported compensation
  • Jeremy Walker (VICE PRESIDENT/CFO): $806,962 total reported compensation
  • Michael Sullivan (DIRECTOR): $732,220 total reported compensation

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

Overview

Mission

To promote the health and welfare of the general public by providing quality healthcare to the community.

What it reported doing in 2024

Provided an estimated 15,663 medical procedures to the community with an emphasis on the practice of anesthesiology.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 89
  • Accountability: 37
  • Sustainability: 1
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -102.9%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 2.01; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 43.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.9% of spending went to programs
  • Governance: 0 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $31M in reported program spending
  • Leadership: top reported pay $1.8M · 23 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.2M reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 filed money-flow records
  • Related organizations: 8 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 — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.