Hospital Authority of Floyd County Self Insurance Trust
Nonprofit profile at a glance
- EIN
- 586140617
- IRS 990 coverage
- 2009–2014
- Forms available
- Form 990 2014
- Location
- Rome, GA, USA
- Phone
- 7065096074
- Rating confidence
- Limited
- Sector
- Insurance Providers
Reported finances
- Revenue
- $0
- Expenses
- $1,061,817
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- KURT STUENKEL (PRESIDENT)
Highest reported compensation
- KURT STUENKEL (PRESIDENT): $1,092,469 total reported compensation
- RICHARD T SHEERIN (CFO): $386,571 total reported compensation
- ROBERT HOLCOMBE JR MD (TRUSTEE): $364,959 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Support 501(c)(3)hospital
What it reported doing in 2014
The hospital authority of floyd county self insurance trust (trust) was created to support the hospital authority of floyd county, Georgia (authority), a political subdivision and exempt organization. This organization provides funding to satisfy malpractice and comprehensive general patient claims against the authority and floyd healthcare management inc. Dba floyd medical center. Beginning in november 1991, the authority's operations were managed by floyd healthcare management, inc. ("fhmi"), a tax-exempt not-for- description of exempt purpose achievement continued on schedule o. Profit corporation as determined by section 501(c)(3) of the internal revenue code. On january 1, 1998, pursuant to the lease, transfer, and reversion agreement between the authority and fhmi (lease), the authority leased its operations and substantially all of its net assets to fhmi. Concurrent with management agreement and continuing under the lease, the trust supports fhmi as well as the authority. Termination: the organization reached a mutual termination agreement on july 9, 2013 between fhmi and reliance trust company. However, the organization was not fully dissolved until august 4, 2014 when the remaining certificates of deposit matured and funds were transferred in full to fhmi in accordance with the organization's tax exempt purpose.
Operating model
- Revenue model
- No positive adjusted resources. The filing reports no positive adjusted operating resources.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 68
- Accountability: 82
- Sustainability: 2
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- 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: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: Limited
- Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 14.1%; rating input score 16; 16th percentile among comparable filings
Growth
- Program expense growth: -103.1% per year; rating input score 0; 10th percentile among comparable filings
- Revenue growth: -48.5% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: -36.1% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 100% of spending went to programs
- Governance: 17 of 17 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.1M in reported program spending
- Leadership: top reported pay $1.1M · 20 people listed · 0 of 6 pay-setting controls reported
- Consistency: 10 of 10 current checks pass
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 6 filing years from 2009 to 2014
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 5 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.
- Review — Accountability: Governance controls: 4 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 2/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 16/100.
- High — Growth: Asset growth scored 0/100.