IUHLP Liquidation Inc

Nonprofit profile at a glance

EIN
351125434
IRS 990 coverage
2011–2020
Forms available
Form 990 2020
Location
Indianapolis, IN, USA
Phone
3179634842
Rating
23
Verdict
REVIEW
Rating confidence
Moderate
Sector
Hospital, General

Reported finances

Revenue
$20,061
Expenses
$0
Assets
$12,679,702
Liabilities
$10,550,157

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

3 people listed

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To improve the health of our patients and communities.

What it reported doing in 2020

Prior to march 1, 2016, iuhlp owned and operated iu health la porte hospital and iu health starke hospital serving the residents of la porte and knox, Indiana and surrounding areas. On march 1, 2016, iuhlp sold iu health la porte hospital and iu health starke hospital to la porte health system, llc, a joint venture between Indiana university health, inc. And a subsidiary of community health systems, inc. Beginning on march 1, 2016, iuhlp began the process of closing its business which continued during 2020 and is expected to be completed in 2022.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The strongest available result is that the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 58
  • Accountability: 28
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 11th 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: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.83; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -43.6% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -26.9% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -23.7% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 0 of 2 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.3M · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2011 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 68 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.