Swedish Covenant Hospital Foundation

Nonprofit profile at a glance

EIN
205055155
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Arlington Heights, IL, USA
Phone
7738788200
Rating
46
Verdict
MIXED
Rating confidence
Standard
Sector
Single Organization Support

Reported finances

Revenue
$9,548,110
Expenses
$915,979
Assets
$70,095,524
Liabilities
$1,213,114

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

Leadership & pay

18 people listed

Executive titles in this filing

  • Jonathan Lind (President, Swedish Hospital)
  • Gerald P Gallagher (System President and CEO)
  • Jennifer Tscherney (Secretary and Executive Director)

Highest reported compensation

  • Gerald P Gallagher (System President and CEO): $5,191,626 total reported compensation
  • Douglas D Welday (System Treasurer and CFO): $2,184,620 total reported compensation
  • Shivani Bautista (Assistant Secretary): $1,224,623 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See Schedule O

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 93% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 15
  • Transparency & Controls: 72
  • Accountability: 67
  • Sustainability: 85
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.2%; rating input score 9
  • Program expense ratio: 24.3%; rating input score 24
  • Fundraising efficiency: $5.28 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th 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; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 90.4%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 76.53; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 288.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -16.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -25.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 9.2% of revenue deployed · 24.3% of spending went to programs
  • Governance: 8 of 12 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $222K in reported program spending
  • Leadership: top reported pay $5.2M · 18 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $178K reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 35 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 9/100.
  • High — Financial Efficiency: Program expense ratio scored 24/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.