Lg Newcorp Inc
Nonprofit profile at a glance
- EIN
- 994230642
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Lawrence, MA, USA
- Phone
- 9786834000
- Rating
- 61
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $308,194,574
- Expenses
- $258,631,124
- Assets
- $165,719,652
- Liabilities
- $68,263,539
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- ABHA AGRAWAL (PRESIDENT & CEO (UNTIL 02/2025))
- DIANA L RICHARDSON (PRESIDENT & CEO (AS OF 04/2025))
- ROBIN HYNDS (INTERIM PRESIDENT & CEO (02/2025 - 04/2025))
Highest reported compensation
- ABHA AGRAWAL (PRESIDENT & CEO (UNTIL 02/2025)): $923,247 total reported compensation
- ROBIN HYNDS (INTERIM PRESIDENT & CEO (02/2025 - 04/2025)): $554,364 total reported compensation
- GEORGE KONDYLIS MD (CHIEF PHYSICIAN EXECUTIVE AND CMO): $547,810 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 operate and maintain an acute care general hospital. Provide appropriate hospital and other related health services to all patients regardless of race, color, creed or national origin. Provide access to medically necessary services for area residents regardless of ability to pay. Assure the ongoing process of continuously improving patient care quality.
What it reported doing in 2024
Inpatient healthcare services - providing inpatient services consistent with our core values by providing access to comprehensive, high quality, compassionate, and efficient healthcare services. Merrimack health methuen hospital and merrimack health haverhill hospital make up two campuses that combine to make a 310 bed hospital that provided 46,390 patient days of inpatient services with 9,447 discharges during fy 2025.
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
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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 52
- Transparency & Controls: 64
- Accountability: 76
- Sustainability: 63
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54.3%; rating input score 54
- Program expense ratio: 64.7%; rating input score 65
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th 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: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 24th 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: 16.1%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 0.64; rating input score 25; 25th percentile among comparable filings
- Liabilities to assets ratio: 0.41; rating input score 44; 44th percentile among comparable filings
- Officer compensation ratio: 0.1%; rating input score 93; 93rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 200% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 200% per year; rating input score 100; 100th percentile among comparable filings
Details
- Where the money goes: 54.3% of revenue deployed · 64.7% of spending went to programs
- Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $167.3M in reported program spending
- Leadership: top reported pay $923K · 13 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $13.1M reported
- Consistency: 28 of 28 current checks pass
- Schedules: 7 filed schedules · includes executive pay
- Contacts: How to reach this organization
- Related organizations: 8 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.
- Review — Financial Efficiency: Mission deployment rate scored 54/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 25/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 44/100.