St Luke's Cornwall Health System Foundation Inc
Nonprofit profile at a glance
- EIN
- 223026263
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Newburgh, NY, USA
- Phone
- 8455682881
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Public Foundations
Reported finances
- Revenue
- $772,134
- Expenses
- $2,115,913
- Assets
- $1,604,587
- Liabilities
- $913,097
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- DANIEL MAUGHAN RN (PRESIDENT & CEO)
- NICHOLAS SHANNON (EXECUTIVE DIRECTOR)
Highest reported compensation
- DANIEL MAUGHAN RN (PRESIDENT & CEO): $979,793 total reported compensation
- THOMAS J GIBNEY (BOARD TREASURER/SVP & CFO): $699,373 total reported compensation
- JOAN CUSACK-MCGUIRK (FORMER OFFICER): $156,250 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 st. Luke's cornwall health system foundation, inc. Is to financially support healthcare initiatives of the st. Luke's cornwall hospital whose services benefit the residents of the mid-hudson valley. The st. Luke's cornwall health system foundation, inc. Accomplishes this mission by: (1) directing development activities, including investments to support capital needs of st. Luke's cornwall hospital and innovative, effective programs which improve community resident's access to quality healthcare services and information; and (2) providing advocacy to ensure the availability of quality medical care.
What it reported doing in 2024
The foundation provides financial support for healthcare initiatives of st. Luke's cornwall hospital whose services benefits the residents of the mid-hudson valley. The foundation is involved in development activities to support the capital needs of st luke's cornwall hospital, improve community resident's access to quality healthcare services and information and provide advocacy to ensure the availability of quality medical care.
Operating model
- Revenue model
- Donor-supported. 97% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 76
- Accountability: 78
- Sustainability: 18
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 40.8%; rating input score 41
- Fundraising efficiency: $0.66 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 77.8%; rating input score 78; 17th 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: -174%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.76; rating input score 34; 34th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 5%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: 16.5% per year; rating input score 100; 78th percentile among comparable filings
- Revenue growth: 6.6% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 31st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 40.8% of spending went to programs
- Governance: 7 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $863K in reported program spending
- Leadership: top reported pay $980K · 12 people listed · 0 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 59 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: Program expense ratio scored 41/100.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 3/100.
- High — Sustainability: Operating margin scored 1/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.