Louisville Healthcare Ceo Council Inc

Nonprofit profile at a glance

EIN
823835653
IRS 990 coverage
2018–2022
Forms available
Form 990 2022, Form 990-N 2017
Location
Louisville, KY, USA
Phone
5025485094
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$2,581,094
Expenses
$3,168,235
Assets
$1,409,382
Liabilities
$2,024,820

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • TAMMY YORK DAY (PRESIDENT/CEO)

Highest reported compensation

  • TAMMY YORK DAY (PRESIDENT/CEO): $441,111 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lhcc promotes better health outcomes with a focus on identifying solutions and technologies in healthcare aging innovaiton, leveraging louisville's status as america's "healthcare aging innovation capitol."

What it reported doing in 2022

In lhcc's efforts to stimulate economic development around louisville's strength in the healthcare aging innovation sector lhcc hosted an array of events. 1) the lhcc 2022 aging innovation global healthcare summit was launched to highlight systems-level approaches to innovation in healthcare. Particularly those relevant in preparing our healthcare system to accommodate an increasing older adult demographic. Our 2022 focus was on patient engagement and education. Lhcc completed discovery labs within each of its council member companies to uncover gaps and healthcare challenges related to patient engagement and education. These findings from our discovery labs helped shape the agenda where lhcc ceos and thought leaders discussed via keynotes and panel sessions. Attendees included healthcare thought leaders innovators, c-level executives and venture capitalists. 2) the caretech pitch competition. The competition was held as part of the optimize conference, hosted by aging 2.0 and ceoc the louisville healthcare ceo council. The two-day event, held at churchill downs, focused on using tech to improve the outcomes of older adults and optimizing aging care.3) in 2022 lhcc was selected to receive a $40 million federal grant. Part of this grant was to develop a center for healthcare workforce innovation (a.k.a. Health career lab). This program trains nonhealthcare individuals with healthcare skills and then helps place them in lhcc member companies and helps remove barriers to working in the healthcare industry. The program also trains healthcare employees with additional job skills for upward mobility.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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: 84
  • Transparency & Controls: 65
  • Accountability: 74
  • Sustainability: 10
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.1%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -22.7%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.44; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 45% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 38.5% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 28% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 85.1% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.7M in reported program spending
  • Leadership: top reported pay $441K · 16 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $119K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.