Physicians Benevolent Fund
Nonprofit profile at a glance
- EIN
- 746050660
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Austin, TX, USA
- Phone
- 5123701490
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $485,235
- Expenses
- $543,174
- Assets
- $5,435,650
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- MICHAEL J DARROUZET (CEO)
Highest reported compensation
- MICHAEL J DARROUZET (CEO): $718,305 total reported compensation
- JOHN E DORMAN (COO): $552,188 total reported compensation
- G RAY CALLAS MD (PRES(24-25)/PRES-ELECT(23-24)): $134,833 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose for which it is formed is to receive and hold in trust, safely keep and invest, money and other real and personal property and accumulate revenue and income therefrom, for the use and benefit of charitable, benevolent, and scientific purposes, included but not limited to (1) the research in the field of geriatrics, (2) the rehabilitation of destitute Texas physicians and their families, (3) the aiding, supporting, maintaining and assisting by gift, donation or otherwise, projects or endeavors, whether incorporated or unincorporated, whose objects or purposes are to give physical aid, comfort, support or assistance to maimed, crippled, aged, sick, infirm, indigent or destitute Texas physicians and their families, or to aid, support, maintain, assist, give or donate to such individuals directly, all for the betterment of mankind, and for purposes incidental thereto.
What it reported doing in 2024
Assist indigent or destitute physicians or their families. In 2024, $86,444 was paid to/for 6 participants.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.
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 revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 91
- Accountability: 86
- Sustainability: 47
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 63.1%; rating input score 63
- Fundraising efficiency: $23.59 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- 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: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -11.9%; rating input score 20; 20th percentile among comparable filings
- Total-asset coverage ratio: 10.01; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 23.6%; rating input score 16; 16th percentile among comparable filings
Growth
- Program expense growth: 0.9% per year; rating input score 100; 35th percentile among comparable filings
- Revenue growth: -3.5% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: 0.3% per year; rating input score 100; 26th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 63.1% of spending went to programs
- Governance: 18 of 18 board members independent · 6 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $343K in reported program spending
- Leadership: top reported pay $718K · 26 people listed · 5 of 6 pay-setting controls reported
- Consistency: 26 of 26 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- 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: Governance controls: 3 of 9 not reported.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 20/100.
- High — Sustainability: Officer compensation ratio scored 16/100.