Sisters of Providence Health System Inc

Nonprofit profile at a glance

EIN
043398374
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Holyoke, MA, USA
Phone
4135392689
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$32,166,513
Expenses
$24,457,447
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • SCOTT WOLF (DIRECTOR, PRESIDENT & CEO)

Highest reported compensation

  • DANIEL MOEN (FORMER OFFICER): $967,697 total reported compensation
  • CHRISTOPHER COMEY MD (DIRECTOR & PRES MED STAFF THR 11/16): $745,049 total reported compensation
  • SCOTT WOLF (DIRECTOR, PRESIDENT & CEO): $560,786 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We, sisters of providence health system and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. We are sustained by an unwavering trust in god's providence.

What it reported doing in 2016

Organized in 1982, sisters of providence health system is located in holyoke, Massachusetts and is the sole member a nonprofit hospital and several other nonprofit healthcare organizations. Together, the health system strives to meet the western Massachusetts region's needs for acute care, behavioral health care and continuing care, and in doing so, positively impact thousands of lives every year. Sisters of providence health system governs, manages, and provides long-range strategic planning, financial, legal and other expertise and support services to its subsidiaries. As a result of these services, the system helps its constituent entities achieve their objective of providing state-of-the-art healthcare services to many segments of the community including those who are traditionally underserved such as the poor and elderly.sphs was merged into the mercy hospital on december 30, 2016.

Operating model

Revenue model
Earned-program. 72% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 95
  • Accountability: 95
  • Sustainability: 43
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65%; rating input score 65
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: $0.35 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 91.7%; rating input score 92; 26th percentile among comparable filings
  • Governance controls: 9 of 9 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: 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: 24%; rating input score 90; 90th 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: 13.2%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -8.5% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 65% of revenue deployed · 82.5% of spending went to programs
  • Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $20.2M in reported program spending
  • Leadership: top reported pay $968K · 22 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2M reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 342 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: Fundraising efficiency scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.