Legacy Medical Foundation

Nonprofit profile at a glance

EIN
852352634
IRS 990-EZ coverage
2021–2023
Forms available
Form 990-EZ 2023
Location
Millinocket, ME, USA
Phone
2077235161
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$38,589
Expenses
$7,522
Assets
$146,437
Liabilities
$26,910

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Robert Peterson DSc FACHE (MRH President & CEO)
  • Michael R Crowley (LMF President & CEO (end 5/2024))

People named in this filing

  • Dr Ronald Blum (Director)
  • Nancy A Moscone (Director)
  • Alison Hannington Perrin (Director (end 5/2024))

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

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The exempt purpose of the Foundation is to connect the needs and priorities of Millinocket Regional Hospital with donors who wish to participate in the Hospital's mission to extend and improve health care services to the people in the communities served by the Hospital.

What it reported doing in 2023

The Foundation carried out its mission to solicit charitable gifts and bequests from the general public, which includes individuals, businesses, corporations, and foundations, on behalf of Millinocket Regional Hospital. The Foundation raised funds on behalf of the Hospital during this year for following purposes:- Provide individuals and institutions with an opportunity to improve the health of the people in the communities served by the Hospital;- Supplement available resources to ensure that state-of-the-art medical technology is available to people in the communities served by the Hospital; and- To provide for needed capital improvements at the Hospital.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 100
  • Sustainability: 82
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.2%; rating input score 0
  • Program expense ratio: 1%; rating input score 1

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 80.5%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 19.47; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 0.8% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: -39.9% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 20.7% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 0.2% of revenue deployed · 1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $73 in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.