Raritan Bay Health Services Corporation

Nonprofit profile at a glance

EIN
222635626
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Perth Amboy, NJ, USA
Phone
7323245401
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$13,761
Expenses
$13,761
Assets
$0
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • MICHAEL R D'AGNES (TRUSTEE - PRESIDENT/CEO RBMC)

Highest reported compensation

  • MICHAEL R D'AGNES (TRUSTEE - PRESIDENT/CEO RBMC): $1,000,072 total reported compensation

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

Overview

Mission

To act as the tax-exempt parent of an

What it reported doing in 2015

Expenses incurred in acting as the tax-exempt parent organization of a tax-exempt integrated healthcare delivery system which includes raritan bay medical center ("rbmc"). Rbmc provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin, religion or ability to pay. Please refer to schedule o for the organization's community benefit statement.

Operating model

Revenue model
Earned-program. 100% 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. Revenue has declined or grown slowly and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 81
  • Accountability: 70
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90%; rating input score 90
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 6th 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: 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: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 66.7%; rating input score 67; 21st percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 214.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: -66.8% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -43.2% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 90% of revenue deployed · 90% of spending went to programs
  • Governance: 4 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $1M · 6 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Related organizations: 8 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 — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.