Kennedy Health System Inc

Nonprofit profile at a glance

EIN
222442036
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Philadelphia, PA, USA
Phone
8566615100
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$52,700
Expenses
$297
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • AARON CHANG FACHE (TRUSTEE - PRESIDENT(EFF 10/23))

People named in this filing

  • JOHN F DURANTE (CHAIR - TRUSTEE)
  • JOSEPH A MARESSA JR ESQ (VICE CHAIR - TRUSTEE)
  • RONALD L CAPUTO (SECRETARY - 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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

This organization supports the charitable purposes and tax-exempt activities of jefferson health New Jersey and its affiliates. Please refer to schedule o for the organization's community benefit statement.

What it reported doing in 2023

Expenses incurred in functioning as the tax-exempt parent organization of various related healthcare organizations which includes kennedy university hospital, inc.; a related internal revenue code section 501(c)(3) tax-exempt hospital organization that provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. Please refer to schedule o for the organization's community benefit statement.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 91
  • Accountability: 92
  • Sustainability: 55
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.5%; rating input score 9
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th 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: 85.7%; rating input score 86; 26th 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: 99.4%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -32.2% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -21.1% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: -11.6% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 8.5% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 14 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $297 in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 77 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 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.