Ky Hospital Research & Education Foundation Inc

Nonprofit profile at a glance

EIN
616052378
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5024266220
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,958,781
Expenses
$10,238,510
Assets
$12,127,341
Liabilities
$10,277,203

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • NANCY GALVAGNI (PRESIDENT)

Highest reported compensation

  • NANCY GALVAGNI (PRESIDENT): $1,207,897 total reported compensation
  • APRIL SMITH (CHIEF FINANCIAL OFFICER): $298,871 total reported compensation
  • MELANIE LANDRUM (SVP, DATA/OPERATIONS/INNOVATION): $287,128 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide charitable and education activities to foster the improvement of the health of the people of Kentucky through educational programs designed to improve the knowledge of healthcare employees; to establish collaboratives to enhance the preparedness of Kentucky hospitals and other health care organizations in responding to disasters, emergencies and trauma; to support the advancement of critical access and small rural hospitals to improve quality of care and financial viability; to identify health care workforce shortages areas and to establish collaboratives among hospitals to address infection prevention/control issues.

What it reported doing in 2024

Ky hospital research & education foundation (khref) will provide resources and lead the effort for Kentucky hospitals to adopt the highest level of opioid stewardship performance that fits within the kha mission of sustaining and improving the health status of the citizens of Kentucky. Khref seeks to expand and sustain a comprehensive, equitable recovery-oriented system of care to address opioid use disorder (oud) and stimulant use disorder (sud) for all individuals throughout Kentucky.

Operating model

Revenue model
Grant-funded. 61% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 92% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 68
  • Accountability: 84
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 94.9%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 7th 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: 98.9%; rating input score 99; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.8%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 15.4% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 17.4% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 94.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $9.7M in reported program spending
  • Leadership: top reported pay $1.2M · 10 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $2M reported
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 15 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.