Memorial Health Foundation Inc Retirement Employee Medical Trust

Nonprofit profile at a glance

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

5 people listed

BRIAN GRAGNOLATI (President and CEO): $11,501,308 total reported compensation
KEVIN LENAHAN (EVP-Chief Business & Strat): $3,385,858 total reported compensation
MICHAEL WALTER (SVP- Chief Financial Ofice): $1,872,440 total reported compensation

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

To provide a non-contributory defined health and welfare plan for eligible participants and retirees.

Non-Contributory Defined Benefit Health and Welfare Plan

Revenue model: Investment-supported. 65% of the money available for current operations came from recurring investment income.
Distribution model: Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

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: Limited
Related-party transparency: Limited

Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Fail
- 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

Operating margin: 10.3%; rating input score 63; 63rd percentile among comparable filings
Total-asset coverage ratio: 11.9; rating input score 92; 92nd percentile among comparable filings
Liabilities to assets ratio: 0.09; rating input score 60; 60th percentile among comparable filings
Officer compensation ratio: 34.8%; rating input score 4; 4th percentile among comparable filings

Program expense growth: Limited
Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
Asset growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 2 of 3 board members independent · 6 of 9 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $11.5M · 5 people listed · 0 of 6 pay-setting controls reported
Consistency: 11 of 11 current checks pass
Schedules: 4 filed schedules · includes executive pay
Filing history: 9 filing years from 2015 to 2024
Contacts: How to reach this organization
Related organizations: 1 filed related-organization link
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.

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