Katahdin Shared Services Inc

Nonprofit profile at a glance

EIN
010366464
IRS 990 coverage
2020–2020
Forms available
Form 990 2020
Location
Millinocket, ME, USA
Phone
2077235161
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$481,084
Expenses
$471,059
Assets
$270,542
Liabilities
$69,444

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Robert Peterson (CEO Millinocket Regional Hospital)
  • Chrystal Landry (CEO Penobscot Valley Hospital)

People named in this filing

  • Thomas Malcolm (Trustee)
  • Harold Cote (Director of Radiology Millinocket Regional Hospital)
  • Bonnie Gray (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Katahdin Shared Services Inc. provides ultrasonography services to two not for profit hospitals, whose joint venture created this company to meet the needs of their service areas. The ultrasound services provided 3271 procedures to the hospitals who serve Millinocket, East Millinocket, Medway, Lincoln, Lee and Mattawamkeag. If services were not provided the nearest facility is over one hour away.

What it reported doing in 2020

Both organizations provided an array of ultrasonography services. Total procedures provided were 3271. Top procedures provided were Echocardiograms, Breast ultrasound, ultrasound to a single org, pelvis(gyn) scan, renal and thyroid scans.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 35
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.9%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.1%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.57; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

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

Details

  • Where the money goes: 97.9% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $471K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.