Signature Healthcare Corporation

Nonprofit profile at a glance

EIN
042103554
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Brockton, MA, USA
Phone
5089417000
Rating
53
Verdict
MIXED
Rating confidence
Standard

Official website

Reported finances

Revenue
$3,995,794
Expenses
$1,111,364
Assets
$12,044,742
Liabilities
$0

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

Leadership & pay

23 people listed

Executive titles in this filing

  • ROBERT J HAFFEY (CHIEF EXECUTIVE OFFICER, PRESIDENT & CLERK)
  • DEEPTI SESHADRI MD (PRESIDENT, MEDICAL STAFF (UNTIL 01/25))
  • LAURA GRIFFIN MD (PRESIDENT, MEDICAL STAFF (EFF. 02/25))
  • KIMBERLY WALSH (SENIOR VICE PRESIDENT/ CHIEF OPERATING OFFICER)

Highest reported compensation

  • ROBERT J HAFFEY (CHIEF EXECUTIVE OFFICER, PRESIDENT & CLERK): $1,021,953 total reported compensation
  • DAVID DRINKWATER MD (PHYSICIAN, TRUSTEE): $768,924 total reported compensation
  • JASON M RADZEVICH (CHIEF FINANCIAL OFFICER & TREASURER): $622,684 total reported compensation

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

Overview

Mission

To be the leading community based healthcare delivery system in southeastern Massachusetts providing the full range of primary care, specialty care, urgent care, hospital care and related ancillary services on a coordinated basis. Signature healthcare physicians and signature healthcare brockton hospital strive to be recognized as the "providers of choice" by staff, patients and the community.

What it reported doing in 2024

Solicit, receive, invest and hold contributions received from any and all sources for the benefit of its non-profit affiliate brockton hospital, inc.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 7
  • Transparency & Controls: 95
  • Accountability: 76
  • Sustainability: 85
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.1%; rating input score 4
  • Program expense ratio: 7.4%; rating input score 7
  • Fundraising efficiency: $6.53 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 75%; rating input score 75; 13th 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: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 72.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 10.84; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 25.9%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: -14% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: -15.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 4.1% of revenue deployed · 7.4% of spending went to programs
  • Governance: 15 of 20 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $82K in reported program spending
  • Leadership: top reported pay $1M · 23 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Financial Efficiency: Program expense ratio scored 7/100.
  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.