The Foundation for Firelands

Nonprofit profile at a glance

EIN
341401660
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Sandusky, OH, USA
Phone
4195577400
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$4,100,586
Expenses
$511,905
Assets
$50,279,558
Liabilities
$1,037,902

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

Leadership & pay

23 people listed

Executive titles in this filing

  • JEREMY NORMINGTON-SLAY (PRESIDENT & CEO)

Highest reported compensation

  • JEREMY NORMINGTON-SLAY (PRESIDENT & CEO): $1,168,196 total reported compensation
  • SCOTT CAMPBELL (SECRETARY/NON-VOTING): $716,884 total reported compensation
  • KEVIN RILEY (TREASURER/NON-VOTING): $594,019 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 foundation for firelands serves community healthcare needs by providing financial support to firelands regional medical center, a 501(c)(3) hospital, and/or any other related nonprofit organization.

What it reported doing in 2024

Financial support for medical education, scholarships, medical staff fees, indigent care, service to outlying communities, nursing education and other operating expenses.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 67
  • Accountability: 83
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.3%; rating input score 10
  • Program expense ratio: 71.3%; rating input score 71
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 95%; rating input score 95; 25th 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: 87.5%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 98.22; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 80.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 13.6% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 10.3% of revenue deployed · 71.3% of spending went to programs
  • Governance: 19 of 20 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $365K in reported program spending
  • Leadership: top reported pay $1.2M · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 6 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 10/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.