Homestead Hospital Inc

Nonprofit profile at a glance

EIN
650232993
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Homestead, FL, USA
Phone
7866627000
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General
Affiliation
Christianity

Official website

Reported finances

Revenue
$569,147,137
Expenses
$570,538,966
Assets
$128,118,528
Liabilities
$680,770,512

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

Leadership & pay

25 people listed

Executive titles in this filing

  • KENNETH SPELL (CEO)

Highest reported compensation

  • KENNETH SPELL (CEO): $1,151,013 total reported compensation
  • EDWARD G SHASHATY (VP FINANCE HOSPITAL OPERATIONS): $823,623 total reported compensation
  • CHARLES ANDERSON AUGUSTUS II (CHIEF MEDICAL OFFICER): $656,031 total reported compensation

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

Overview

Mission

See schedule o

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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 57
  • Accountability: 91
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.4%; rating input score 93
  • Program expense ratio: 93.2%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 17th 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: 25.2%; rating input score 25; 7th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th 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: -0.2%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 5.31; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 93.4% of revenue deployed · 93.2% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $531.8M in reported program spending
  • Leadership: top reported pay $1.2M · 25 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $16.2M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 37 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 25/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.