St Vincent Foundation Howard B Grobstein Liquidating Trustee

Nonprofit profile at a glance

EIN
953922511
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Woodland Hills, CA, USA
Phone
8185321020
Rating
38
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$465,126
Expenses
$33,216
Assets
$4,019,191
Liabilities
$0

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

Leadership & pay

1 person listed

People named in this filing

  • HOWARD B GROBSTEIN (LIQUIDATING TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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. Vincent foundation ("the foundation") was to develop partnerships to support the philanthropic needs of st. Vincent medical center ("svmc") by raising funds through grants, special events and donors.

What it reported doing in 2024

On august 31, 2018, verity health systems and 16 of its affiliated companies, including st. Vincent foundation, each filed voluntary petitions for relief under chapter 11 of the united states bankruptcy code. The bankruptcy cases are jointly administered under case no. 18-20151 in the united states bankruptcy court for the central district of California. On september 4, 2020, the effective date of the plan of liquidation occurred and the plan was consummated. All conditions precedent to the effective date of the plan set forth in section 12.2 of the plan have either been satisfied or waived in accordance with the plan and the confirmation order. Court filings are available at kccllc.net/verityhealth

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 0
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 93
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 92.9%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 121; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -24.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -17.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -8.8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 1 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 14 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.