Vna Management Corporation

Nonprofit profile at a glance

EIN
061246818
IRS 990 coverage
2009–2018
Forms available
Form 990 2018
Location
Bridgeport, CT, USA
Phone
2035760002
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$1,003,534
Expenses
$1,003,534
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • ANN OLSON (PRESIDENT Thur 04-01-2019)
  • Johnson-Charles Leonard III (President From 04 01 2019)

Highest reported compensation

  • Johnson-Charles Leonard III (President From 04 01 2019): $1,245,510 total reported compensation
  • Orlando - Rocco III (Secretary From 04 01 2019): $1,103,379 total reported compensation
  • Parisi Rita Ann (Director From 04 01 2019): $596,093 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

MANAGEMENT SERVICES PROVIDED FOR TWO HOME HEALTH CARE EXEMPT ORGANIZATIONS THAT ARE RELATED THROUGH COMMON CONTROL. THE PRESIDENT, CFO AND VP OF HUMAN RESOURCES CARRY OUT THESE SAME FUNCTIONS IN THE TWO ORGANIZATIONS MANAGED. THE ORGANIZATION'S MISSION IS TO FURTHER THE CHARITABLE MISSIONS OF THE TWO EXEMPT ORGANIZATIONS THAT IT MANAGES. THE ORGANIZATION BILLS THE ORGANIZATIONS IT MANAGES AT COST FOR THE SERVICES PROVIDED, NO PROFIT IS RECOGNIZED FOR THE MANAGEMENT SERVICES. During this FY, the parent organization VNA Corporations 06-1142892 was dissolved and full merged with Visiting Nurse Services of CT in November of 2018. Making them the sole corporate owner. In April of 2019 the Visiting Nurse Servcies of CT became affiliated with Hartford HealthCare at Home. At June 30th, 2019 VNA Management equity balances were merged with Visiting Nurse Services of CT.

What it reported doing in 2018

Home health care: promote the charitable and educational purposes of two nonprofit charitable organizations by providing management services. All entities for which these services are provided are exempt under section 501(c)(3). The services provided include administrative, strategic planning, financial oversight, employee relations and benefits management and information technology services. These services are provided at cost to these organizations.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 32
  • Sustainability: 17
  • Growth: 0

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: 90.9%; rating input score 91; 6th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • 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: 0%; rating input score 0; 4th 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: 0%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 118.7%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -6% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $1.2M · 13 people listed · 6 of 6 pay-setting controls reported
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2009 to 2018
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 59 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 — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.