Memorial Health Systems Foundation Inc

Nonprofit profile at a glance

EIN
311771522
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Daytona Beach, FL, USA
Phone
3866154144
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$1,047,974
Expenses
$523,083
Assets
$12,853,146
Liabilities
$87,246

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Adams John (President/Director)
  • Rand Julie (Executive Director (End 1/24))
  • Norton Tim (Executive Director (Beg 4/24))

Highest reported compensation

  • Schneider MD Julie (Director): $1,157,224 total reported compensation
  • Weis David (Director): $961,496 total reported compensation
  • Domayer Cory (Director): $556,350 total reported compensation

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

Overview

Mission

Fund-raising and volunteer activity for supported hospital.

What it reported doing in 2024

The primary exempt purpose of Memorial Health Systems Foundation, Inc. (the Foundation) is to conduct fund-raising on behalf of Memorial Health Systems, Inc. (MHS), an IRC Section 501(c)(3) organization.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. 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: 58
  • Transparency & Controls: 69
  • Accountability: 66
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.5%; rating input score 62
  • Program expense ratio: 70.4%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th 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; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 76.9%; rating input score 77; 17th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 50.1%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 24.57; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 54.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 61.5% of revenue deployed · 70.4% of spending went to programs
  • Governance: 10 of 13 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $368K in reported program spending
  • Leadership: top reported pay $1.2M · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 129 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.