Richland Memorial Hospital Research and Education Foundation

Nonprofit profile at a glance

EIN
237010028
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Columbia, SC, USA
Phone
8032962100
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$52,085
Expenses
$162,843
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • JAMES I RAYMOND MD (PRESIDENT)
  • JIM CURTIS DMD (VICE PRESIDENT)

People named in this filing

  • JAMES I RAYMOND MD (PRESIDENT)
  • JIM CURTIS DMD (VICE PRESIDENT)
  • PAUL DUANE (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Educational and charitable nonprofit corporation whose purpose is to support education, service, and research in the fields of preventative and curative medicine at palmetto health richland hospital.

What it reported doing in 2017

The organization ceased operations during the year.the richland memorial hospital research and education foundation was incorporated in 1968 as a charitable, eleemosynary, and educational foundation. As stated in its charter, its purpose is "exclusively education and charitable; to augment and to aid education, service, and research in the fields of preventative and curative medicine." the foundation receives funds to support the teaching activities of the anesthesiology, emergency medicine, and psychiatry departments through funding of medical faculty positions. The foundation continues to support various educational and research activities related to operations of various medical education and research activities on the palmetto health richland campus.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 12
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.4%; rating input score 97
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -212.6%; rating input score 10; 10th 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: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -22.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -20.1% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -16.7% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $159K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.