Louisville Psychiatric Foundation Inc

Nonprofit profile at a glance

EIN
611238498
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Louisville, KY, USA
Phone
5025884425
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$106,079
Expenses
$106,079
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • DAVID CASEY MD (PresIDENT & DIRECTOR)

Highest reported compensation

  • ALLAN TASMAN MD (Vice Pres- Sec & Director): $466,698 total reported compensation
  • DAVID CASEY MD (PresIDENT & DIRECTOR): $297,877 total reported compensation
  • Jesse Wright (Treasurer & Director): $193,507 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To coordinate collection of financial support from the practice groups of the university of louisville psychiatric department and transmit collected funds to the school of medicine.

What it reported doing in 2015

The corporation, an integral component of the professional practice plan of the university of louisville school of medicine, collects payments from practice groups and transmits those funds to the school's medical school fund and the department of psychiatry.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 58% for direct work, and 42% for grants.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 25
  • Transparency & Controls: 73
  • Accountability: 32
  • Sustainability: 20
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.3%; rating input score 28
  • Program expense ratio: 27.8%; rating input score 28
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 6th 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 196.4%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -116% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -47.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -38.7% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 28.3% of revenue deployed · 27.8% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $29K in reported program spending
  • Leadership: top reported pay $467K · 3 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 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 28/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 28/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.