Holy Cross Medical Properties Inc

Nonprofit profile at a glance

EIN
650666283
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Fort Lauderdale, FL, USA
Phone
9542676872
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Official website

Reported finances

Revenue
$858,279
Expenses
$824,594
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • PATRICK TAYLOR MD (DIRECTOR; PRESIDENT; HCH CEO)

Highest reported compensation

  • PATRICK TAYLOR MD (DIRECTOR; PRESIDENT; HCH CEO): $862,382 total reported compensation
  • LINDA WILFORD (DIR,SEC,TREAS,HCH SVP & CFO THR 4/17): $698,509 total reported compensation
  • TODD RADOSEVICH (INTERIM HCH CFO AS OF 4/17): $242,546 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We, holy cross hospital and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Holy cross medical properties is a member of holy cross hospital and trinity health.

What it reported doing in 2016

Holy cross medical properties had been operating a medical office building in furtherance of the health care mission of holy cross hospital. The offices are rented by physicians that render care for the patients of the hospital. On june 29, 2017, holy cross medical properties merged into its sole member, holy cross hospital. The hospital is a nonprofit organization under internal revenue code section 501(c)(3).

Operating model

Revenue model
Earned-program. 73% 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

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 67
  • Accountability: 32
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.1%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Yes; rating input score 100

Accountability

  • Independent voting board: 0%; rating input score 0; 4th 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: 3.9%; rating input score 52; 52nd 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: 29.8%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -1.4% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: -16.1% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 96.1% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $825K in reported program spending
  • Leadership: top reported pay $862K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Related organizations: 336 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 — 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: Total-asset coverage ratio scored 0/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.