Vital Healthcare Capital

Nonprofit profile at a glance

EIN
454014553
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2125862821
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health - General and Rehabilitative N.E.C.

Official website

Reported finances

Revenue
$3,465,421
Expenses
$2,032,377
Assets
$33,351,274
Liabilities
$11,942,499

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

Leadership & pay

11 people listed

Executive titles in this filing

  • STEVE WEINGARTEN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • STEVE WEINGARTEN (CHIEF EXECUTIVE OFFICER): $231,724 total reported compensation
  • ALDEA COLEMAN (DIRECTOR OF PARTNERSHIPS): $192,754 total reported compensation

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

Overview

Mission

V-cap was organized to provide flexible financing and targeted development services to catalyze quality care and good healthcare jobs in low-income communities.

What it reported doing in 2024

V-cap is a community development financial institution (cdfi) supporting quality care and good healthcare jobs in low-income and historically disadvantaged communities through advantageous financing, strong community partnerships, and advocacy for health access and equity. V-cap finances community-based healthcare organizations including community health centers, behavioral health providers, providers of integrated or specialty care, and other projects substantially impacting community health.

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 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.8%; rating input score 48
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $44.26 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 41.4%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 16.41; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 20.9%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: -5.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 47.8% of revenue deployed · 81% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $232K · 11 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.