Preston Memorial Hospital Corporation

Nonprofit profile at a glance

EIN
311097818
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Kingwood, WV, USA
Phone
3043291400
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$63,938,773
Expenses
$60,349,487
Assets
$62,883,256
Liabilities
$52,290,747

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

Leadership & pay

16 people listed

Executive titles in this filing

  • DAVID GOLDBERG (DIRECTOR, MHS PRESIDENT CEO)

Highest reported compensation

  • DAVID GOLDBERG (DIRECTOR, MHS PRESIDENT CEO): $1,047,723 total reported compensation
  • FRANK ABRAHAM (PHYSICIAN): $633,655 total reported compensation
  • LORN WOLFE (PHYSICIAN): $518,066 total reported compensation

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

Overview

Mission

To enhance the health of the communities we serve, one person at a time.

What it reported doing in 2024

The hospital had 2,472 inpatient days, cared for 10,282 emergency patients and treated 50,525 patients in its outpatient clinics. The hospital provides care regardless of the patient's ability to pay. Charges foregone for charity care amounted to $1,112,981. The hospital promotes and provides activities such as health fairs, blood drives, and a fitness center to improve the health and welfare of its patients. The hospital also conducts community-wide speaker bureaus to help educate the community on specific health and wellness matters. The hospital strives to provide and promote needed services in the community by partnering with local agencies such as the preston county health department, family resource network, preston prevention partnership, and the preston county chamber of commerce.the organization sponsored health fairs, blood drives, cancer screenings, cpr/first aid classes, crisis intervention, diabetes intervention, family/parenting/sibling education, fitness education, flu shots, nutrition/weight maintenance, school based programs, senior education and outreach programs, sports injury prevention, substance abuse and tobacco/smoking cessation.

Operating model

Revenue model
Earned-program. 96% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 64
  • Accountability: 77
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.7%; rating input score 73
  • Program expense ratio: 77.6%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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: 60%; rating input score 60; 16th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.6%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 4.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 6.1% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 72.7% of revenue deployed · 77.6% of spending went to programs
  • Governance: 6 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $46.8M in reported program spending
  • Leadership: top reported pay $1M · 16 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $3.7M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 32 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.
  • Review — Sustainability: Operating margin scored 59/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.