The Reading Hospital & Medical Center Self-insurance Fund

Nonprofit profile at a glance

EIN
232087514
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Reading, PA, USA
Phone
4846284307
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$185,679
Expenses
$488,056
Assets
$6,482,542
Liabilities
$6,482,542

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

Leadership & pay

15 people listed

Executive titles in this filing

  • CHARLES BARBERA MD (PRESIDENT &)

Highest reported compensation

  • CHARLES BARBERA MD (PRESIDENT &): $1,229,468 total reported compensation
  • KATHLEEN LAMB MD (BOARD MEMBER): $635,876 total reported compensation
  • OLUBUMNI OJIKUTU MD (BOARD MEMBER): $580,863 total reported compensation

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

Overview

Mission

To support the operations of the reading hospital.

What it reported doing in 2024

Payments of general and professional liability claims: the self-insurance fund is a reserve used exclusively for the associated costs of professional and general liability claims brought against the reading hospital, a 501 (c)(3) organization.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 65
  • Accountability: 88
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 78.6%; rating input score 79; 20th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -162.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 13.28; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 67%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 17.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: -6% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 14 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $488K in reported program spending
  • Leadership: top reported pay $1.2M · 15 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 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 — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.