Southcoast Health System Inc
Nonprofit profile at a glance
- EIN
- 042794625
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- New Bedford, MA, USA
- Phone
- 5089732905
- Rating
- 57
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Community Health Systems
Reported finances
- Revenue
- $36,690,991
- Expenses
- $17,172,885
- Assets
- $318,051,860
- Liabilities
- $34,458,054
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
33 people listed
Executive titles in this filing
- DAVID MCCREADY (EX-OFFICIO, PRESIDENT & CEO)
- RAYFORD KRUGER (FORMER PRESIDENT & CEO, EX OFFICIO)
- KEITH HOVAN (FORMER EX-OFFICIO AND PRES & CEO)
Highest reported compensation
- DAVID MCCREADY (EX-OFFICIO, PRESIDENT & CEO): $1,798,618 total reported compensation
- RENEE CLARK ASST CLERK TO (12/24), CLERK (AS OF 1/25), EVP COO): $1,424,360 total reported compensation
- RAYFORD KRUGER (FORMER PRESIDENT & CEO, EX OFFICIO): $1,349,066 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 mission of southcoast health system (shs) is to care for and improve the health and promote the wellness of the individuals in the shs communities. (see schedule o)
What it reported doing in 2024
Southcoast accountable care organization - southcoast health system, through its interest in southcoast accountable care organization, aims to expand the delivery of healthcare services with a variety of public and private payers and to support the reducing of costs of care while improving quality and patient experience.
Operating model
- Revenue model
- Earned-program. 75% 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
MIXED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 45
- Transparency & Controls: 48
- Accountability: 76
- Sustainability: 86
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 32.2%; rating input score 32
- Program expense ratio: 80.5%; rating input score 81
- 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: Scored; rating input score 0
- Grant itemization coverage: Scored; rating input score 0
- 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; 14th 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: 53.2%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 18.52; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.11; rating input score 72; 72nd percentile among comparable filings
- Officer compensation ratio: 5.9%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: 14.1% per year; rating input score 100; 82nd percentile among comparable filings
- Revenue growth: 14.4% per year; rating input score 100; 86th percentile among comparable filings
- Asset growth: 9.8% per year; rating input score 100; 64th percentile among comparable filings
Details
- Where the money goes: 32.2% of revenue deployed · 80.5% of spending went to programs
- Governance: 12 of 16 board members independent · 7 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $13.8M in reported program spending
- Leadership: top reported pay $1.8M · 33 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.1M reported
- Consistency: 23 of 23 current checks pass
- Schedules: 8 filed schedules · includes major donors, foreign activity, executive pay, and related organizations
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 13 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.