Lahey Clinic Inc

Nonprofit profile at a glance

EIN
042704683
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Charlestown, MA, USA
Phone
7817448924
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Treatment Facilities, Primarily Outpatient
Affiliation
Christianity

Official website

Reported finances

Revenue
$414,814,024
Expenses
$479,742,522
Assets
$350,941,097
Liabilities
$233,778,495

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

Leadership & pay

52 people listed

Executive titles in this filing

  • MOFFATT-BRUCE MD PHD SUSAN (PRESIDENT & TRUSTEE)
  • BRAMS MD DAVID (TRUSTEE; PRESIDENT, LC MEDICAL STAFF)
  • TABB MD KEVIN (CHIEF EXECUTIVE OFFICER (CEO, BILH))

Highest reported compensation

  • TABB MD KEVIN (CHIEF EXECUTIVE OFFICER (CEO, BILH)): $4,734,371 total reported compensation
  • RIOS CINDY (TREAS (EXECUTIVE VP AND CFO, BILH)): $3,594,703 total reported compensation
  • SHEKAR MD PREM (CARDIOTHORACIC SURGEON): $1,518,617 total reported compensation

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

Overview

Mission

See schedule o

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 73
  • Accountability: 60
  • Sustainability: 17
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 31st 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: 99%; rating input score 99; 37th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 47.8%; rating input score 48; 12th 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: -15.7%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.67; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97% of spending went to programs
  • Governance: 11 of 23 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $465.5M in reported program spending
  • Leadership: top reported pay $4.7M · 52 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $299.8M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 26 filed money-flow records
  • Related organizations: 91 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.
  • Moderate — Accountability: Independent voting board scored 48/100.
  • High — Sustainability: Operating margin scored 5/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.