Millinocket Regional Hospital

Nonprofit profile at a glance

EIN
010223482
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Millinocket, ME, USA
Phone
2077235161
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$32,190,675
Expenses
$34,487,854
Assets
$16,270,735
Liabilities
$9,189,115

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • Matthew Turnquist (Medical Staff President)
  • Mellissa McAvoy (Board President, CFO, COO)
  • Fred Lewis (Board Vice President)
  • Lee Chip Lamson Jr (Board Vice President (end 5/2024))
  • Robert Peterson (Chief Executive Officer)

Highest reported compensation

  • Mark Kowalski MD (Physician): $486,994 total reported compensation
  • Kevin Olsen PA-C (Physician Assistant): $394,332 total reported compensation
  • Robert Peterson (Chief Executive Officer): $370,820 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Millinocket Regional Hospital (MRH) is a critical access hospital that provides access to excellence in healthcare.

What it reported doing in 2023

Millinocket Regional Hospital (MRH) provides a broad scope of medical services to residents and guests in the Katahdin region. These services span the continuum of care and include inpatient, outpatient, emergency, and ancillary services. Inpatient care at MRH includes medical surgical care with availability of swing bed and special care services.The wide range of support services available at MRH features highly skilled staff and includes diagnostic imaging, cardiopulmonology, laboratory, rehabilitation, and wellness. (Continued on Schedule O)MRH features a strong, cohesive medical staff consisting of family practice, internal medicine, general surgery, gastroenterology, orthopedics, ear nose & throat, urology, podiatry, cardiology, oncology, ophthalmology, podiatry, pulmonology, radiology, and urology.During this reporting period, MRH cared for: Inpatients - 829Clinic patients - 10,478Emergency room patients - 6,613In addition, MRH provided: Surgeries performed - 1,218Surgical office visits - 2,415Laboratory services - 76,833Radiology services - 11,159Therapy services (physical, speech, and occupational) - 5,515

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 71
  • Sustainability: 17
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.5%; rating input score 94
  • Program expense ratio: 88.1%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 1.3% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 94.5% of revenue deployed · 88.1% of spending went to programs
  • Governance: 4 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $30.4M in reported program spending
  • Leadership: top reported pay $487K · 16 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.4M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • 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.

Key Signals

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

  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.