St Vincent Medical Center Howard B Grobstein Liquidating Trustee

Nonprofit profile at a glance

EIN
912154438
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Woodland Hills, CA, USA
Phone
8185321020
Rating confidence
Limited
Sector
Community Health Systems

Reported finances

Revenue
$0
Expenses
$0
Assets
$1,242,140
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. 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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

St. Vincent medical center was organized for the purposes of 1) maintaining an acute care hospital and related facilities, 2) promoting research related to healthcare services, 3) maintaining health plans using systems designated to maximize benefits to communities served, 4) promoting general health of the community, and 5) providing financial and other forms of assistance for the benefit of other healthcare facilities affiliated with verity.

What it reported doing in 2023

On august 31, 2018, verity health systems and 16 of its affiliated companies, including st. Vincent medical center, 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
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 30
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 71.4%; rating input score 71; 0th 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; 9th 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: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -20.3% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: -11.6% per year; rating input score 0; 31st percentile among comparable filings
  • Asset growth: -11.9% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • 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: 9 of 11 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 15 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • 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.