Sarasota Memorial Healthcare Foundation

Legal name: Sarasota Memorial Healthcare Foundation Inc

Nonprofit profile at a glance

EIN
510188568
IRS 990 coverage
2009–2024
Official website data refreshed
Aug 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Sarasota, FL, US
Phone
941-917-1286
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$36,006,342
Expenses
$18,830,229
Assets
$186,617,988
Liabilities
$1,345,217

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • STACEY CORLEY (PRESIDENT)

Highest reported compensation

  • STACEY CORLEY (PRESIDENT): $375,979 total reported compensation
  • PATRICK J MCQUILLAN (VICE PRES. OF STRATEGIC PHILANTHROPY): $225,826 total reported compensation
  • CRAIG A MORAN (DIR. OF DEVELOPMENT): $206,819 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sarasota Memorial Healthcare Foundation is the philanthropic partner that helps Sarasota Memorial advance patient care, drive innovation, and expand access to exceptional healthcare throughout our community.

What it reported doing in 2024

Grants to sarasota county public hospital board, sarasota memorial hospital for facilities, and equipment that will provide the most advanced, state-of-the -art treatments and the highest quality of care and comfort. Named one of the world's best hospitals 2019-2025 by newsweek magazine. Named a top hospital nationwide in money magazine's the best hospitals of 2025. Ranked among the 50 best hospitals in the nation in obstetrics/gynecology and high performing in 21 other specialties, and procedures and conditions in u.s. News' best hospitals report for 2025/2026. Ranked among the "best maternity care hospitals."

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.6%; rating input score 52
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $10.74 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.7%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 9.91; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 13.7% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 12.9% per year; rating input score 100; 75th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 4 operating locations identified
  • Where the money goes: 51.6% of revenue deployed · 76% of spending went to programs
  • Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $14.3M in reported program spending
  • Leadership: top reported pay $376K · 29 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $830K reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 5 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.