Lima Memorial Foundation

Nonprofit profile at a glance

EIN
341707570
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lima, OH, USA
Phone
4192265073
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,294,257
Expenses
$149,837
Assets
$11,768,320
Liabilities
$17,572

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

Leadership & pay

19 people listed

Executive titles in this filing

  • MICHAEL SWICK (BOARD MEMBER/LMH CEO)

Highest reported compensation

  • MICHAEL SWICK (BOARD MEMBER/LMH CEO): $921,592 total reported compensation
  • LYNN CARPENTER (VP/LMH COO): $439,350 total reported compensation

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

Overview

Mission

The mission of the lima memorial foundation is to provide quality health care through philanthropy to the communities which lima memorial health system serves.

What it reported doing in 2024

The corporation was organized to operate exclusively for charitable and educational purposes. Specifically, to assist lmh in providing quality health care to the community which it serves.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 37
  • Transparency & Controls: 72
  • Accountability: 84
  • Sustainability: 87
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.6%; rating input score 11
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 89.5%; rating input score 89; 20th 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: 93.5%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 78.54; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 95%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -15.7% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 10.6% of revenue deployed · 93.1% of spending went to programs
  • Governance: 17 of 19 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $922K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 5 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 11/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.