Iredell Memorial Hospital Inc

Nonprofit profile at a glance

EIN
560591303
IRS 990 coverage
2009–2009
Forms available
Form 990 2009
Location
Statesville, NC, USA
Phone
7048735661
Rating confidence
Limited
Sector
Hospital, General

Official website

Reported finances

Revenue
$154,854,453
Expenses
$153,708,706
Assets
$159,925,521
Liabilities
$63,101,374

Source: IRS Form 990. Selected filing: tax year 2009. Amounts in USD.

Leadership & pay

30 people listed

Source: IRS Form 990. Selected filing: tax year 2009. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Iredell memorial hospital, incorporated was established to provide quality healthcare to the citizens of iredell county, North Carolina and surrounding counties.

What it reported doing in 2009

Iredell memorial hospital, incorporated provides quality healthcare to the citizens of iredell county, North Carolina and surrounding counties. Additionally, the hospital serves the community by providing health and wellness programs, by maintaining a high quality medical staff, by providing modern facilities and by securing and maintaining a well-trained staff. The corporation served 10,218 inpatients and over 169,000 outpatients, including physician practice patients, in fiscal 2010. The hospital provides its service regardless of race, creed, national origin, sex, age, disability and all of the statuses protected by law.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 92
  • Sustainability: 40
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 11th 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: 93.8%; rating input score 94; 23rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 86.7%; rating input score 87; 41st 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: 0.7%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $141.4M in reported program spending
  • Leadership: top reported pay $515K · 30 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes grants and executive pay
  • Money network: 4 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.

  • Moderate — Sustainability: Operating margin scored 34/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.