Stanly Regional Medical Center

Nonprofit profile at a glance

EIN
560556760
IRS 990 coverage
2009–2013
Forms available
Form 990 2013
Location
Albemarle, NC, USA
Phone
7049844393
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$102,503,786
Expenses
$92,806,054
Assets
$118,412,055
Liabilities
$32,411,499

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • ALFRED P TAYLOR (PRESIDENT/CEO)

Highest reported compensation

  • ALFRED P TAYLOR (PRESIDENT/CEO): $402,086 total reported compensation
  • DR MIKE MCLEOD (BOARD MEMBER): $299,811 total reported compensation
  • ANJANA YOUNG (DIRECTOR, ANESTHESIOLOGY): $271,076 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Stanly regional medical center's mission is to facilitate improving the health of the people in the communities we serv, by providing quality services that are comprehensive, affordable and delivered: compassionately, appropriately, responsibly, efficiently.

What it reported doing in 2013

Stanly regional medical center provided approximately 16,800 inpatient days of care and approximately 77,300 outpatient visits (excluding labs) during 2014. Discharges were approximately 5,400. The hospital uses it resources to effectively and efficiently provide quality health care to the residents of stanly county and the immediate surrounding areas in a passionate and responsive manner. In keeping with the hospital's mission, the hospital: -provides care to persons covered by governmental programs with reimbursement at a level below the cost of providing that care: -provides bad debt and charity care; - provides health activities, space, and programs to support the community. As stated above, stanly regional provided health care to medicare and medicaid patient with reimbursement below the hospital's cost. The hospital recognizes these amounts as a form of uncompensated care in meeting its mission.

Operating model

Revenue model
Other-operating. 90% of the money available for current operations came from other operating 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

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 96
  • Accountability: 60
  • Sustainability: 63
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.9%; rating input score 59
  • Program expense ratio: 64.8%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 67th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 10th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.5%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -0% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 58.9% of revenue deployed · 64.8% of spending went to programs
  • Governance: 2 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $60.1M in reported program spending
  • Leadership: top reported pay $402K · 25 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.4M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 8 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.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • Moderate — Accountability: Independent voting board scored 40/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.