Victory Memorial Hospital (Bankrupt) C/o Francis G Conrad Plan Administrato

Nonprofit profile at a glance

EIN
111630911
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
Point Lookout, NY, USA
Phone
7185671006
Rating
30
Verdict
REVIEW
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$87,541
Expenses
$3,352,359
Assets
$462,016
Liabilities
$32,561,145

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • Dr Vincent Calamia (President)

People named in this filing

  • Bill Guarinello (Chairman)
  • William Girasole (Vice Chairman)
  • Donald Cordano (Treasurer)

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 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Wind Down Operations

What it reported doing in 2014

Not Applicable - The hospital ceased all operations.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. 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: 0
  • Transparency & Controls: 90
  • Accountability: 12
  • Sustainability: 11
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3,729.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 70.48; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -111.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -41.9% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 25 people listed
  • Highest-paid contractors: 1 contractor listed · $140K reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2011 to 2014
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.