Seton Health System Inc

Nonprofit profile at a glance

EIN
141776186
IRS 990 coverage
2010–2018
Forms available
Form 990 2018
Location
Troy, NY, USA
Phone
5182685520
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$42,462,046
Expenses
$47,478,258
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

35 people listed

Executive titles in this filing

  • JAMES REED MD (DIRECTOR; PRESIDENT & CEO)
  • MICHAEL FINEGAN (PRESIDENT, ACUTE CARE)
  • LORI SANTOS (VICE PRESIDENT, ACUTE CARE FINANCE)
  • NORMAN DASCHER JR (FORMER OFF; VP & CEO TROY THRU 10/18)

Highest reported compensation

  • DANIEL ROTH MD (DIRECTOR; TRINITY EVP CHIEF CLIN OFF): $1,748,458 total reported compensation
  • JAMES REED MD (DIRECTOR; PRESIDENT & CEO): $1,161,138 total reported compensation
  • NORMAN DASCHER JR (FORMER OFF; VP & CEO TROY THRU 10/18): $923,721 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We, st. Peter's health partners and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Founded in community-based legacies of compassionate healing, we provide the highest quality comprehensive continuum of integrated health care, supportive housing and community services, especially for the needy and vulnerable. Seton health system (st. Mary's hospital) is a member of st. Peter's health partners and trinity health.

What it reported doing in 2018

Seton health system has been anchored by st. Mary's hospital in troy, New York, for more than 155 years, and provides regionally based services to residents of rensselaer, saratoga and albany counties. St. Mary's hospital is among the region's leading primary care providers, offering family practice and internal medicine, urgent care, ob/gyn and pediatrics. St. Mary's hospital's outpatient services include physical rehabilitation, medical imaging, incontinence and wound treatment, surgical services, cardiac rehabilitation, and much more. Prior to its merger with samaritan hospital, the hospital provided 3,259 patient days of health care services to the community. Seton health system merged into samaritan hospital on january 1, 2019.please visit schedule h and our website for additional information about our services, recognitions and awards: www.sphp.com/sam

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 71
  • Accountability: 80
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96%; rating input score 96
  • 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: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 73.7%; rating input score 74; 14th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.8%; rating input score 7; 7th 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: 8.8%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -9.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -9.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -10.4% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96% of spending went to programs
  • Governance: 14 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $45.6M in reported program spending
  • Leadership: top reported pay $1.7M · 35 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.1M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 10 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 9 filing years from 2010 to 2018
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 318 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 7/100.
  • 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.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.