Speare Memorial Hospital
Nonprofit profile at a glance
- EIN
- 020226774
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Plymouth, NH, USA
- Phone
- 6035361120
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Hospital, General
Reported finances
- Revenue
- $85,362,123
- Expenses
- $84,642,125
- Assets
- $91,674,134
- Liabilities
- $23,765,419
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- Michelle McEwen (President/CEO)
Highest reported compensation
- Paul Musco (Physician): $590,343 total reported compensation
- Andrew Seefeld (Physician): $539,323 total reported compensation
- Michelle McEwen (President/CEO): $480,523 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 maintain a hospital and other such institutions within the state of New Hampshire, with facilities that include medical services to provide for the diagnosis and treatment of patients that may require inpatient, outpatient, emergency care and other pursuits designed to promote the general health of the community. SMH does not discriminate relative to race, religion or national origin, or ability to pay. SMH will ensure that all patients receive the same level of care through quality assessment monitoring and improvement activities. Speare's formal mission statement is to work together to serve the needs of our patients and community, and a vision of a community where all can achieve optimal health.
What it reported doing in 2024
Speare Memorial Hospital is a nonprofit 25-bed acute-care critical access hospital that provides inpatient and outpatient services to the residents and visitors of the surrounding Central New Hampshire communities that includes those who are uninsured, underinsured, Medicaid/Medicare dependents, and rural, low-income families. Services include emergency medicine (24 hours/ 7-days per week), intensive care, labor and delivery, rehabilitation (physical therapy, occupational therapy, cardiac, pulmonary, medical fitness), advanced imaging (3D mammography, MRI, bone density, CT, nuclear medicine, ultrasound), infusion therapy, nutrition, and essential wellness and prevention programs. SMH owns six practices staffed with physicians and mid-level professionals providing primary care, surgery (in-office, outpatient, and inpatient), obstetrics and gynecology, pediatrics, orthopedics, and ophthalmology services. In fiscal year 2025, SMH provided the following services: 13,278 emergency room visits, 2,224 surgical services, 33,816 physical and occupational therapy treatments, 155,692 laboratory tests, 28,767 radiology exams, and 3,474 oncology services.
Operating model
- Revenue model
- Earned-program. 97% 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
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 88
- Accountability: 95
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94%; rating input score 94
- Program expense ratio: 95.6%; rating input score 96
- Fundraising efficiency: $8 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 74.5%; rating input score 75; 16th percentile among comparable filings
- 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; 40th 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: 0.8%; rating input score 36; 36th percentile among comparable filings
- Total-asset coverage ratio: 1.08; rating input score 42; 42nd percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 61; 61st percentile among comparable filings
- Officer compensation ratio: 4.7%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: 5.1% per year; rating input score 100; 41st percentile among comparable filings
- Revenue growth: 3.8% per year; rating input score 100; 30th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 20th percentile among comparable filings
Details
- Where the money goes: 94% of revenue deployed · 95.6% of spending went to programs
- Governance: 11 of 12 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $81M in reported program spending
- Leadership: top reported pay $590K · 26 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $7.8M reported
- Consistency: 35 of 36 current checks pass · 1 finding to review
- Schedules: 11 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: 17 filed money-flow records
- Related organizations: 10 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 35/100.
- Moderate — Sustainability: Operating margin scored 36/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
- High — Sustainability: Officer compensation ratio scored 19/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.