Saint Michael's Medical Center Inc

Nonprofit profile at a glance

EIN
262616046
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Newark, NJ, USA
Phone
9736903514
Rating confidence
Limited
Sector
Hospitals and Related Primary Medical Care Facilities

Reported finances

Revenue
$1,150,000
Expenses
$4,123,914
Assets
$0
Liabilities
$0

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

Leadership & pay

12 people listed

Executive titles in this filing

  • DAVID RICCI (DIRECTOR; PRESIDENT & CEO)

Highest reported compensation

  • DAVID RICCI (DIRECTOR; PRESIDENT & CEO): $779,178 total reported compensation
  • DENNIS PETTIGREW (TREASURER; CFO/COO): $423,865 total reported compensation
  • STEWART CUNNINGHAM (CORP SECRETARY; VP LEGAL SERVICES): $247,350 total reported compensation

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

Overview

Mission

To provide excellence in health care to the communities we serve, integrating principles of inclusion, educating the next generation of care providers, and focusing on treating all persons in the franciscan tradition of compassion, dignity, respect, and commitment to poor and marginalized persons.

What it reported doing in 2017

Saint michael's medical center was a 357-bed (147 staffed beds) regional tertiary-care, teaching center in the heart of newark, New Jersey's business and educational district. Combining state-of-the-art technology, the latest diagnostic and therapeutic procedures, and a network of highly qualified physicians, nurses, and allied health professionals, the hospital provides top-quality health care services delivered with compassionate care.effective may 1, 2016 saint michael's medical center sold substantially all of its health care operations and assets to prime healthcare services - saint michaels's llc. Effective april 17, 2017, remaining assets were transferred to a liquidating trustee in accordance with a chapter 11 plan of orderly liquidation.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 43
  • Accountability: 80
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 90%; rating input score 90; 21st 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: -258.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 1.4%; rating input score 65; 65th percentile among comparable filings

Growth

  • Program expense growth: -36.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -20.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -30% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 9 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.1M in reported program spending
  • Leadership: top reported pay $779K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Related organizations: 336 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.