Imanco Inc

What it reported doing in 2018

Imanco is a not-for-profit management services company that is an integral part of Inova Health System Foundation and that provides executive management oversight to the Inova Health System Foundation and its principal affiliates. Inova affiliates include the following: Inova Health System Foundation (Foundation), a parent company, which also serves as a charitable foundation, raising funds to support Inova's tax-exempt entities. The Foundation operates in accordance with Inova's articles of incorporation, which provide that all funds raised, except for those required for the operations of the Foundation, be distributed or held in support of the charitable objectives and mission of Inova and its tax-exempt subsidiaries. Funds raised are channeled to the community in the form of expanded medical and other community services. During 2018, Foundation funds were used to support Inova's centers of excellence in cancer, cardiovascular and neurological care, as well as the Life with Cancer support and educational programs, the Forensic Assessment Consultation Team (FACT) program, and many other programs and services. In addition, donated funds were used in 2018 to support many other Inova programs including the Inova Juniper Program, Inova Center for Wellness and Metabolic Health, InovaCares Clinics for Women and Children, the Inova Health Plate Club and the Inova Kellar Center's Behavioral Services Program. Inova Health Care Services (IHCS) is a not-for-profit corporation that operates hospital facilities, programs, and other shared service arrangements and carries on education and research activities. As of December 31, 2018, IHCS operated four hospitals, having a total of 1,631 licensed hospital beds in Fairfax County, Virginia - Inova Fairfax Medical Campus (Fairfax), Inova Mount Vernon Hospital (Mount Vernon), Inova Alexandria Hospital (Alexandria) and Inova Fair Oaks Hospital (Fair Oaks). Each of these hospitals provides general acute care services, including emergency room facilities, inpatient and outpatient services, and a varying number of ancillary and specialized services based on the needs of the community. IHCS and its subsidiaries provide long-term care and behavioral health services. Long term care is provided through Inova Assisted Living, a transitional living facilities provider and through Elderlink, a cooperative program providing case management services to older adults. In addition, Comprehensive Addiction Treatment Services provides services to adults suffering from alcohol and other chemical dependencies. The Inova Kellar Center provides treatment for children and adolescents with substance abuse and behavioral and emotional problems. IHCS is also the parent company of four free-standing 24-hour emergency centers, which are affiliated with its hospitals, and operates the Inova Research Center, which provides a quality arena for professional education and clinical research. In addition, IHCS operates Inova Alexandria Foundation, a charitable foundation.Loudoun Hospital Center (LHC) is a not-for-profit corporation organized to promote the health and well-being of Loudoun County, Virginia, and surrounding areas. LHC operates Inova Loudoun Hospital Center (a 183-bed hospital), Loudoun Nursing and Rehabilitation Center, Ashburn HealthPlex, Loudoun Healthcare Foundation and other healthcare related facilities. Inova Holdings, Inc. (IHI) is the parent holding company for various taxable entities within Inova including Technical Dynamics Inc., a biomedical equipment maintenance and engineering company. IHI and its subsidiaries operate facilities providing a variety of health care and support services to patients and to affiliated health care providers.Inova Home Health (IHH) In September 2018, Inova entered into a joint venture with Alternate Solutions Health Network to restructure the management of the Inova VNA Home Care services. Inova maintains 51% ownership of the company, and the joint venture is now known as I

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 90.9%; rating input score 91; 4th 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: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 67th 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: 0%; rating input score 31; 31st 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: 87.5%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: 27.6% per year; rating input score 100; 95th percentile among comparable filings
• Revenue growth: 27.6% per year; rating input score 100; 96th percentile among comparable filings
• Asset growth: Limited