Raymond E Hoffmann Md Medical Benevolence Fund of Isms
Nonprofit profile at a glance
- EIN
- 510164917
- IRS 990 coverage
- 2020–2020
- Forms available
- Form 990 2020
- Location
- Chicago, IL, USA
- Phone
- 3127821654
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $45,387
- Expenses
- $28,094
- Assets
- $893,665
- Liabilities
- $16,228
Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
7 people listed
Highest reported compensation
- SUZANNE NELSON (COO): $125,243 total reported compensation
- RICHARD ANDERSON MD (TRUSTEE): $76,572 total reported compensation
- DAVID A WICHMANN (CFO): $70,954 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide assistance to needy doctors and their families who are members of the Illinois state medical society.
Operating model
- Revenue model
- Investment-supported. 100% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 51
- Transparency & Controls: 93
- Accountability: 78
- Sustainability: 69
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.7%; rating input score 67
- Program expense ratio: 40.6%; rating input score 41
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 80%; rating input score 80; 23rd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Limited
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 38.1%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 31.81; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 36.5%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 66.7% of revenue deployed · 40.6% of spending went to programs
- Governance: 4 of 5 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $11K in reported program spending
- Leadership: top reported pay $125K · 7 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 5 filed schedules · includes grants
- Contacts: How to reach this organization
- Related organizations: 2 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.
- Moderate — Financial Efficiency: Program expense ratio scored 41/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 9/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.