Ohio Hospital Capital Inc

Nonprofit profile at a glance

EIN
311193166
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Columbus, OH, USA
Phone
6142217614
Rating confidence
Limited
Sector
Hospitals and Related Primary Medical Care Facilities

Reported finances

Revenue
$0
Expenses
$15,164
Assets
$0
Liabilities
$0

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

Leadership & pay

7 people listed

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

Overview

Mission

To assist tax-exempt hospitals in attaining and administering hospital tax-exempt financing programs for capital expansion.

What it reported doing in 2015

Ohio hospital capital (ohc) fulfilled its duties as program administrator to various tax-exempt pooled bond issues dating from the early 1990's to early 2000's. However, ohc has not been successful recently in facilitating the issuance of tax-exempt debt on behalf of its member organizations due to the challenges many community hospitals face in securing access to the tax-exempt bond markets. Ohc has strived to monitor the outstanding debt obligations for which it served as program administrator, and to comply with various IRS and rating agency requirements and commitments. In 2015, the oha board of trustees approved dissolution of ohc and transfer of its assets and programs into oha. The transfer was completed effective december 31, 2015.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

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

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 60
  • Accountability: 58
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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

Accountability

  • Independent voting board: 42.9%; rating input score 43; 19th 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: 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

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 918.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -133.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -11.8% per year; rating input score 0; 37th percentile among comparable filings
  • Asset growth: -15.4% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 3 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $15K in reported program spending
  • Leadership: top reported pay $959K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Related organizations: 6 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.
  • Moderate — Accountability: Independent voting board scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.