Shore Memorial Health System

Nonprofit profile at a glance

EIN
222866326
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Somers Point, NJ, USA
Phone
6096533545
Rating confidence
Limited

Official website

Reported finances

Revenue
$-302,783
Expenses
$262,565
Assets
$155,874
Liabilities
$6,933,908

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

Leadership & pay

11 people listed

Executive titles in this filing

  • RONALD W JOHNSON (TRUSTEE - CEO (TERM 12/21/24))
  • DAVID R HUGHES (Trustee - CEO (EFF 12/01/24))

Highest reported compensation

  • RONALD W JOHNSON (TRUSTEE - CEO (TERM 12/21/24)): $2,130,125 total reported compensation
  • DAVID R HUGHES (Trustee - CEO (EFF 12/01/24)): $1,037,348 total reported compensation

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

Overview

Mission

The organization functions as the parent corporation of and supports the charitable purposes, programs and services of shore memorial health system and affiliates, including shore medical center, which provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. Please refer to the organization's community benefit statement included in schedule o.

What it reported doing in 2024

Expenses incurred in supporting shore memorial health system and its affiliates, including shore medical center, a related internal revenue code section 501(c)(3) tax-exempt hospital organization, which provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay. Please refer to schedule o for the organization's community benefit statement.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 28
  • Transparency & Controls: 96
  • Accountability: 94
  • Sustainability: 12
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 38.1%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Pass
    • 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; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 90%; rating input score 90; 27th 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: -186.7%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 44.48; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 78.2%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: -49.9% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -22.8% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 38.1% of spending went to programs
  • Governance: 9 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $100K in reported program spending
  • Leadership: top reported pay $2.1M · 11 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 9 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 — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.