Peninsula General Hospital Insurance Trust

Nonprofit profile at a glance

EIN
526321234
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Salisbury, MD, USA
Phone
4105466400
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Insurance Providers

Reported finances

Revenue
$2,856,935
Expenses
$41,493
Assets
$0
Liabilities
$0

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

Leadership & pay

1 person listed

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

Overview

Mission

To support tidalhealth, inc. (EIN 52-2132761) by providing a segregated fund from which workers compensation claims and associated administrative costs not otherwise covered by other workers compensation insurance may be paid.

What it reported doing in 2024

Tidalhealth, inc. (EIN 52-2132761), the parent organization of a community health system, maintains a segregated fund from which workers compensation claims and associated administrative costs not otherwise covered by other workers compensation insurance may be paid, and, to the extent that such costs are included in the required funding amount, for the payment of reasonable costs of investigation, adjustment, and defense of such claims. Accounting activities of this trust are also included in the annual form 990 filing by tidalhealth, inc. This trust does not have any employees.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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

MIXED - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 90
  • Accountability: 12
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.9%; rating input score 19
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 98.5%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -44.2% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 18.9% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $41K in reported program spending
  • Leadership: top reported pay $3K · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 10 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 — Financial Efficiency: Mission deployment rate scored 19/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.