Saint Raphael Healthcare System Inc

Nonprofit profile at a glance

EIN
061157542
IRS 990 coverage
2009–2013
Forms available
Form 990 2013
Location
Westport, CT, USA
Phone
2032223160
Rating confidence
Limited
Sector
Community Health Systems

Reported finances

Revenue
$0
Expenses
$0
Assets
$43,801,279
Liabilities
$39,462,839

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Janeanne Lubin-Szafranski (Chief Executive Officer)

Highest reported compensation

  • Janeanne Lubin-Szafranski (Chief Executive Officer): $455,989 total reported compensation
  • James R Rude (Chief Financial Officer): $338,760 total reported compensation
  • Russ Braun MD (Former Chair/Emergency Medicine): $200,536 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Saint Raphael Healthcare System is a holding company for affiliated entities performing program services to improve the health status of our community by providing a comprehensive range of health care services.

What it reported doing in 2013

Effective as of 12:01am September 12, 2012, the majority of the assets and the operations of the organization were sold to Yale-New Haven Hospital (a 966-bed not-for-profit hospital located in New Haven, Connecticut) and its parent company (Yale-New Haven Health Services Corporation), and active operations ceased. The company remains in existence to complete the wind-up of corporate affairs, which includes the collection of outstanding accounts receivable, the payment of outstanding accounts payable & accrued expenses and the disposition of temporarily and permanently restricted net assets pending transfer as of September 30, 2014.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 84
  • Sustainability: 1
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th 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: Missing
    • Written employment contract: Pass
    • 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: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 27th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.9; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -49.3% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 90.3% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $456K · 11 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.