Overview
What is Edgewater Medical Center C/O Crane Simon Clar & Goodman?
Edgewater Medical Center C/O Crane Simon Clar & Goodman is a bankruptcy estate that formerly operated as a hospital, providing healthcare services in Chicago, Illinois. Currently, its primary focus has shifted towards recovering assets, primarily through legal means. As a bankruptcy estate, it manages its operations and resources with the aim of settling its financial obligations and maximizing its value. The organization is currently overseen by Crane Simon Clar & Goodman.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 23% (Zero-Star out of Four Stars)
Edgewater Medical Center has received a notably low rating of 23%, which reflects significant concerns regarding its accountability and financial practices. The rating is based entirely on a single beacon score, primarily focusing on financial transparency and governance. While the organization has a fully independent board, it lacks sufficient independent board member representation.
The nonprofit has no reported material diversion of assets, which is a positive aspect. However, several critical policies are missing, including conflict of interest and whistleblower policies, which raises questions about its governance practices. Furthermore, the organization has not provided its website on its tax form and has a concerning liabilities to assets ratio of 6974.21%, indicating financial instability.
Overall, the low program expense ratio of 19.86% suggests that only a small portion of its funds are directed toward programmatic activities, which is a limitation that detracts from its overall effectiveness. These factors combined contribute to its poor rating, highlighting areas for improvement in governance and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Edgewater Medical Center C/O Crane Simon Clar & Goodman legitimate?
Edgewater Medical Center C/O Crane Simon Clar & Goodman is a legitimate nonprofit organization registered as a 501(c)(3) entity. Edgewater Medical Center C/O Crane Simon Clar & Goodman submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Edgewater Medical Center C/O Crane Simon Clar & Goodman?
Edgewater Medical Center, now functioning as a bankruptcy estate, has shifted its focus from providing healthcare services to recovering assets, primarily through legal actions. The establishment's primary objective now is to utilize its resources effectively in this new capacity. While it no longer directly provides healthcare services, its past role as a healthcare provider continues to be a part of its history. The location of this entity is not specified in the provided information.
What is the revenue of Edgewater Medical Center C/O Crane Simon Clar & Goodman?
Edgewater Medical Center C/O Crane Simon Clar & Goodman's revenue in 2024 was $566.
Who are the executives of Edgewater Medical Center C/O Crane Simon Clar & Goodman and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Edgewater Medical Center C/O Crane Simon Clar & Goodman?
Edgewater Medical Center C/O Crane Simon Clar & Goodman's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Edgewater Medical Center C/O Crane Simon Clar & Goodman
Edgewater Medical Center C/O Crane Simon Clar & Goodman, formerly a hospital that offered healthcare services, now operates as a bankruptcy estate. Its primary focus has shifted towards recovering assets, primarily through legal means. The organization is currently engaged in various programs aimed at achieving this objective. Despite its transition, Edgewater Medical Center C/O Crane Simon Clar & Goodman continues to contribute to the healthcare sector in a unique capacity.
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Impact
October, 2024
Edgewater Medical Center C/O Crane Simon Clar & Goodman plays a significant role in the recovery of assets from a former healthcare institution that has entered bankruptcy. As a bankruptcy estate, it is focused on managing and redistributing the remaining assets, which may involve pursuing lawsuits to recoup financial resources.
Located in Chicago, IL, the center's activities are vital for addressing the financial aftermath of the hospital's closure, impacting various stakeholders, including former employees, creditors, and the local community. By concentrating on asset recovery, the center contributes to potential compensation for those affected by the hospital's downfall and plays a part in the broader economic landscape of the healthcare sector in the region. Its focus on legal proceedings to reclaim lost funds underscores the importance of accountability and transparency in the healthcare system, especially when institutions face financial distress.
This information is meant to be a general summary of Edgewater Medical Center C/O Crane Simon Clar & Goodman. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Gross Receipts: $566
Assets and Liabilities:
- Total Assets: $968,215
- Total Liabilities: $67,517,619
- Net Assets: -$66,549,404
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Organization Details
Founding Year
1993
Principal Officer
Arthur Simon
NTEE Category
Code: E220 - Health
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