Somerset Health Care Foundation Inc

Nonprofit profile at a glance

EIN
223294408
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Oceanport, NJ, USA
Phone
9733224032
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,103,018
Expenses
$2,709,281
Assets
$6,428,383
Liabilities
$515,050

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

Leadership & pay

15 people listed

Highest reported compensation

  • KATHLEEN TOOMEY MD (TRUSTEE): $980,627 total reported compensation
  • DONNA CASTRONOVO (VP DEVELOPMENT): $249,361 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 support the charitable tax-exempt purposes, programs and services of robert wood johnson university hospital (somerset campus); a related internal revenue code section 501(c)(3) tax-exempt 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.

What it reported doing in 2024

Expenses incurred in support the charitable tax-exempt purposes, programs and services of robert wood johnson university hospital (somerset campus); a related internal revenue code section 501(c)(3) tax-exempt 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.

Operating model

Revenue model
Donor-supported. 60% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 91
  • Accountability: 95
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.6%; rating input score 32
  • Program expense ratio: 49.1%; rating input score 49
  • Fundraising efficiency: $3.36 raised per $1 spent on fundraising; rating input score 10; 10th 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: 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: 91.7%; rating input score 92; 22nd 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: 34%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 2.37; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 0.7% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 31.6% of revenue deployed · 49.1% of spending went to programs
  • Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $981K · 15 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $318K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 116 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: Mission deployment rate scored 32/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 49/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.