Henry Heywood Memorial Hospital

Nonprofit profile at a glance

EIN
042103581
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Gardner, MA, USA
Phone
9786306106
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$206,608,905
Expenses
$201,708,629
Assets
$88,997,740
Liabilities
$88,578,443

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

Leadership & pay

31 people listed

Executive titles in this filing

  • Rozanna Penney (President/CEO)
  • Thomas Sullivan (Past Chief Executive Officer/President)

Highest reported compensation

  • Andrew Cocchiarella MD (Director of Anesthesia Services): $934,105 total reported compensation
  • Daniel Wilson DO (Chief of Emergency Medicine): $770,542 total reported compensation
  • Phani Molakatalla MD (Trustee/Gastroenterology Physician): $707,032 total reported compensation

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

Overview

Mission

Our mission is to be our region's first choice for quality, compassionate, patient-centered care.

What it reported doing in 2024

Heywood offers various outpatient services such as an Emergency Room, Outpatient oncology and hematology advanced imaging, special procedures, rehabilitation services and many others on an outpatient basis.Heywood offers Inpatient services including telemetry, intensive care, maternity, pediatrics, geriatric and adult inpatient care and inpatient adult mental health.Heywood has eleven specialty and one Primary Care, provider based practices. The primary care practice focuses on Pediatrics and Family Practice, and the specialty care practices focus on the areas of Cardiology, Endocrinology, Gastroenterology, Gynecology/Obstetrics, Orthopedics, Pulmonology, Urology and General Surgery.

Operating model

Revenue model
Earned-program. 99% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 94
  • Accountability: 85
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: $7.29 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 73.7%; rating input score 74; 23rd 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: 2.4%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 11th percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 95.7% of spending went to programs
  • Governance: 14 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $193.1M in reported program spending
  • Leadership: top reported pay $934K · 31 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $13.3M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 11 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.