Virginia Cardiac Services Quality Initiative

Nonprofit profile at a glance

EIN
562328128
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
South Riding, VA, USA
Phone
9139093140
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Heart, Circulatory Research

Reported finances

Revenue
$258,849
Expenses
$263,397
Assets
$526,917
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • Clifford Edwin Fonner (Executive Director)

Highest reported compensation

  • Clifford Edwin Fonner (Executive Director): $113,396 total reported compensation
  • Sherri White (Quality Improvement Advisor): $89,900 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

VCSQIs mission is to transform cardiovascular care to improve patient experience and value. Via our multidisciplinary network our members collaborate to improve the quality of care delivered to patients while reducing costs for hospitals and payors. Significant achievements include the creation of our multi-institutional network of cardiac surgery and cardiology practices over 60 peer-reviewed publications and five statewide initiatives to optimize heart care outcomes.

What it reported doing in 2025

Meeting Expenses and Collaborative Infrastructure: Regular meetings are held to educate surgeons cardiologists nurses database managers and other quality improvement staff from hospital members. Multiple research studies and quality improvement projects were undertaken with the goal of exchanging information for improving surgical quality and lowering costs. Quarterly meetings are held for the Quality Committee Board of Directors and entire consortium. Best practices from the group are shared and guest speakers from around the nation are invited to present findings of their research. Monthly check-in meetings are held with members to review data and progress with implementing initiatives. Angiogram reviews are performed to ensure matching of imaging and pathology helping to ensure appropriateness and improve quality of care.

Operating model

Revenue model
Membership-supported. 79% of the money available for current operations came from membership dues.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 91
  • Sustainability: 41
  • Growth: 100

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: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.8%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 2; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 77.2%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $263K in reported program spending
  • Leadership: top reported pay $113K · 18 people listed
  • Highest-paid contractors: 1 contractor listed · $113K reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.