Southcoast Health
Legal name: Southcoast Hospitals Group Inc
Nonprofit profile at a glance
- EIN
- 222592333
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- New Bedford, MA, USA
- Phone
- 508-973-2222
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Hospitals and Related Primary Medical Care Facilities
Reported finances
- Revenue
- $1,381,528,208
- Expenses
- $1,285,336,650
- Assets
- $1,240,071,776
- Liabilities
- $480,938,770
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)
- KEITH HOVAN (FORMER PRESIDENT & CEO)
Highest reported compensation
- DAVID MCCREADY (EX-OFFICIO, PRESIDENT & CEO): $1,798,618 total reported compensation
- RENEE CLARK ASST CLERK UNTIL (12/24)/CLERK (AT 1/25)/EVP COO): $1,424,360 total reported compensation
- RAYFORD KRUGER (FORMER PRESIDENT & CEO): $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
Southcoast Health is a not-for-profit, community-based health system providing exceptional care in southeastern Massachusetts and Rhode Island. The Friends of Jack Foundation Supports Pediatric Care The Pediatric Team at St. Luke’s Hospital recently received a special donation of $35,000 from the Friends of Jack Foundation’s Golf Tournament held earlier this spring. This donation will directly […] The Friends of Jack Foundation Supports Pediatric Care. Community Wellness Program Our Community Wellness Program aims to break down traditional barriers to care by bringing health education, vaccinations, immunizations, and health screenings directly to underserved and vulnerable populations across the region. This program enhances accessibility through mobile capabilities and supports Southcoast’s ongoing population health initiatives.
What it reported doing in 2024
Southcoast provides inpatient and outpatient health care services to improve the health and wellness of individuals across its communities. During fiscal year 2025, southcoast recorded 198,064 inpatient days; performed 18,228 surgeries and 14,241 endoscopies; provided 3,781,114 laboratory tests; and completed 513,576 radiological procedures and 245,804 physical medicine visits. Southcoast also performed 789 pci coronary interventions, 2,352 diagnostic catheterizations, 375 open-heart surgeries, 2,149 electrophysiology cases, and 833 coronary device implants, while caring for 2,912 newborn admissions. In addition, southcoast delivered 43,527 radiation and medical chemotherapy treatments and provided 24/7 emergency care to 169,070 patients, regardless of their ability to pay.
Operating model
- Revenue model
- Earned-program. 98% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 84
- Accountability: 89
- Sustainability: 56
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.9%; rating input score 78
- Program expense ratio: 83.8%; rating input score 84
- Fundraising efficiency: $7.44 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 70.4%; rating input score 70; 14th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 81.2%; rating input score 81; 29th 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: 7%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 0.96; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.39; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 1%; rating input score 75; 75th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 29th percentile among comparable filings
- Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
- Asset growth: 3.1% per year; rating input score 100; 21st percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 77.9% of revenue deployed · 83.8% of spending went to programs
- Governance: 13 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.1B in reported program spending
- Leadership: top reported pay $1.8M · 33 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $31.8M reported
- Consistency: 42 of 43 current checks pass · 1 finding to review
- Schedules: 13 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 45 filed money-flow records
- Related organizations: 36 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: Fundraising efficiency scored 33/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.