Nevada Health and Bioscience Asset Corporation

Nonprofit profile at a glance

EIN
843753195
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Henderson, NV, USA
Phone
7024835705
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$5,377,076
Expenses
$8,703,545
Assets
$177,692,754
Liabilities
$68,052,771

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Maureen Schafer (CEO/President (Thru 03/24))
  • James C Waddoups (CEO/President (From 04/24))

Highest reported compensation

  • Kim Case-Nichols (Chief Operating Officer): $202,904 total reported compensation
  • Maureen Schafer (CEO/President (Thru 03/24)): $183,551 total reported compensation

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

Overview

Mission

Support UNLV through the Medical Education Building, residency programs and with an objective of increasing the availability of and access to Southern Nevada's health care services for those who need it.

What it reported doing in 2024

In 2024, NHBC advanced Nevada's academic health infrastructure and medical education programs. In partnership with UNLV, NHBC operated the LEED Silvercertified Kirk Kerkorian Medical Education Building, earning an AIA Design Honor Award, and funding $338,400 in capital improvements and energy optimization. NHBC committed over $3 million to launch an Ophthalmology Residency program and worked with UNLV to continue assessing programs to address physician shortages. NHBC also led development of the fully funded, 34,000-sq.-ft. Southern Nevada Academic Health Laboratory, supported by $35M in State ARPA funds and $9M from the City of Las Vegas, is scheduled for completion in Q4 2026. These efforts expand graduate medical education capacity, improve facility performance, and strengthen Nevada's healthcare workforce.Kirk Kerkorian Medical Education Building Operations: In partnership with UNLV, NHBC operated the LEED Silvercertified Kirk Kerkorian Medical Education Building, earning an AIA Design Honor Award, and funding $338,400 for capital improvements and energy optimization projects. These efforts improved facility performance, sustainability, and student learning environments.Graduate Medical Education (GME) Expansion: NHBC committed over $3 million to expand GME programs, launching an Ophthalmology Residency in partnership with Nevada Vision Foundation, and worked with UNLV to continue assessing programs to address physician shortages.. These initiatives address statewide physician shortages and strengthen Nevada's medical education pipeline.Southern Nevada Academic Health Laboratory Development: NHBC led the development of a fully funded, 34,000-sq.-ft. health laboratory to serve as a regional diagnostic center, academic training site, and donor blood bank. Supported by $35 million in State ARPA funds and $9 million from the City of Las Vegas, the project remains on schedule for completion in Q4 2026, enhancing healthcare capacity and emergency preparedness.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 93
  • Transparency & Controls: 79
  • Accountability: 86
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: $25.02 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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

Sustainability

  • Operating margin: -61.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 20.42; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 74% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -8.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 33.6% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 89.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.8M in reported program spending
  • Leadership: top reported pay $203K · 10 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.3M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • 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.

  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.