Wellspan Properties Inc

What it reported doing in 2024

Wellspan properties, inc. ("wp") is a charitable corporation that supports a parent company, wellspan health ("wsh"), and related companies, collectively a health care delivery system, in york, adams, lancaster and surrounding counties. As a community-based, not-for-profit organization, wsh is dedicated to being the leader in developing, delivering and coordinating health care services, which improve the health and well-being of the people it serves. Wsh provides, through its subsidiaries, access to quality, convenient and affordable health care through more than 250 patient care locations that offer services such as diagnostic imaging, laboratory testing and analysis, rehabilitation, primary care, retail pharmacy, walk-in health care and other essential services. These services include 47 ambulatory care and outpatient sites in york, adams, lancaster and surrounding counties as well as northern Maryland. Wsh also provides six retail pharmacy sites, over 80 primary care and specialty physician offices, over 2,500 medical and dental staff members, nine hospitals with more than 850 beds and more than 82,000 annual admissions. Wsh includes york health plan, d/b/a south central preferred, a preferred provider organization and third-party administrator serving 55 employers and nearly 30,000 residents of york, adams, cumberland, dauphin, lebanon, perry and franklin counties. Scp also provides comprehensive worksite wellness services, that includes an employee assistance program (eap), currently serving over one-hundred fifty employers with more than 100,000 lives. Wp supports wsh and its mission to improve the health and well-being of the people it serves. Wsh will assume a leadership role and develop partnerships with other organizations to improve access to coordinated high-quality cost-effective health care services, educate the health care providers of tomorrow, promote healthy lifestyles and life-long wellness and make its local communities healthier, more desirable place to live, work and play. Wp, which is exempt from federal income tax pursuant to section 501(c)(3) of the internal revenue code, is a component of wellspan health care services ("whcs"). Wp's parent, whcs, is also exempt from federal income tax and is the sole member of wp. Whcs is a component of wsh, which is also exempt from federal income tax. Wp was formed by wsh as a means of handling real estate transactions for facilities to be used in furthering wsh's mission of improving access to coordinated, high-quality, cost-effective and compassionate healthcare services. Wp takes advantage of tax-exempt bond pools to finance the purchase or construction of facilities used for this purpose. Wp, a Pennsylvania not-for-profit, generates its revenue by charging rent for its facilities. Wp's purpose is to support wsh and its affiliates to improve the health and well-being of the people it services. Wp supports it's 501(c)(3) wsh affiliates, including york hospital, gettysburg hospital, wellspan medical group, the good samaritan hospital of lebanon Pennsylvania, ephrata community hospital, vna home health services and vna community services, each of which is a section 501(c)(3) organization and a public charity as described in section 509(a)(1) or 509(a)(2) of the code. All of the supported affiliated organizations are purely public charities and exempt from Pennsylvania sales tax. All leases were at fair market value.see wellspan health - 2025 community benefit report located at https://www.wellspan.org/about-wellspan/improving-healthy-communities/community-benefit.

Financial Efficiency

• Mission deployment rate: 98.6%; rating input score 99
• Program expense ratio: 95.1%; rating input score 95
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -2%; rating input score 23; 23rd percentile among comparable filings
• Total-asset coverage ratio: 13.61; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.85; rating input score 12; 12th percentile among comparable filings
• Officer compensation ratio: 2.5%; rating input score 73; 73rd percentile among comparable filings

Growth

• Program expense growth: 5.8% per year; rating input score 100; 48th percentile among comparable filings
• Revenue growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
• Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings