Overview
What is Hartford Healthcare Endowment Llc?
Hartford Healthcare Endowment LLC is a non-profit organization that manages and invests endowment funds exclusively for certain charitable healthcare organizations within the Hartford Healthcare Corporation System. These organizations include Windham Community Memorial Hospital, Inc., Midstate Medical Center, and others, all recognized as public charities under IRS sections 501(c)(3) or 509(a)(1) or (2). The Foundation's primary role is to pool and invest the funds of these tax-exempt affiliates to support their charitable activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two Stars (62%)
Hartford Healthcare Endowment LLC has received a Two-Star out of Four Star rating from Charity Navigator, which reflects a score of 62%. This rating is primarily based on Accountability & Finance, indicating that while there are some strengths, significant areas for improvement exist. The organization shows solid performance in financial oversight, with a perfect score for its audit and oversight committee, and no material diversion of assets reported.
However, the charity struggles with governance, as evidenced by the lack of independent board members, which raises concerns about accountability. Additionally, the organization's transparency is compromised by missing key documents on its website, such as the tax form and an independent board member listing. Although the charity has a conflict of interest policy and a whistleblower policy in place, the overall lack of independent oversight and transparency limits its effectiveness and public trust.
Overall, while Hartford Healthcare Endowment LLC demonstrates responsible financial practices, its governance practices and transparency efforts need substantial enhancement to improve its rating and increase donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Hartford Healthcare Endowment Llc legitimate?
Hartford Healthcare Endowment Llc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hartford Healthcare Endowment Llc 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 Hartford Healthcare Endowment Llc?
The Hartford Healthcare Endowment LLC is established and managed to oversee and invest the endowment funds of selected charitable healthcare organizations under the Hartford Healthcare Corporation. These organizations include Windham Community Memorial Hospital, Midstate Medical Center, and others. The foundation's primary role is to pool and invest the tax-exempt affiliates' funds to support their charitable initiatives. The Hartford Healthcare Endowment LLC serves as a crucial financial partner, enabling the healthcare organizations to focus on their essential missions and services to the community.
Who is the CEO of Hartford Healthcare Endowment Llc?
Unavailable
What is the revenue of Hartford Healthcare Endowment Llc?
Hartford Healthcare Endowment Llc's revenue in 2022 was $82,489,042.
Who are the executives of Hartford Healthcare Endowment Llc and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $1,234,743
- Other: $161,847
- Compensation: $0
- Related: $304,938
- Other: $41,030
- Compensation: $0
- Related: $910,693
- Other: $81,678
- Compensation: $0
- Related: $496,755
- Other: $118,489
- Compensation: $0
- Related: $666,811
- Other: $136,885
- Compensation: $0
- Related: $386,982
- Other: $54,281
- Compensation: $0
- Related: $784,817
- Other: $44,135
- Compensation: $0
- Related: $894,455
- Other: $63,975
Where can I find the form 990 for Hartford Healthcare Endowment Llc?
Hartford Healthcare Endowment Llc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hartford Healthcare Endowment Llc
Hartford Healthcare Endowment LLC is a philanthropic organization, dedicated to managing and investing endowment funds for various charitable healthcare organizations that are part of the Hartford Healthcare Corporation Integrated System. This system includes esteemed institutions such as Windham Community Memorial Hospital, Midstate Medical Center, Hartford Hospital, The Hospital of Central Connecticut at New Britain General and Bradley Memorial, Rushford Center, Rushford Foundation, Hartford Healthcare at Home, Charlotte Hungerford Hospital, Hartford Healthcare Senior Services, and Hartford Healthcare Corporation. All these organizations are recognized as public charities under Section 509(A)(1) or 509(A)(2) of the Internal Revenue Code.
In simple terms, the Hartford Healthcare Endowment LLC functions as a trustee, pooling and investing the funds of its tax-exempt healthcare affiliate partners, with the objective of supporting their charitable activities. By managing these endowments effectively, the foundation enables its healthcare partners to focus on their primary mission: delivering exceptional care and services to their communities. In this capacity, it plays a crucial role in fostering the long-term financial sustainability of these healthcare organizations.
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Impact
October, 2024
Hartford Healthcare Endowment LLC plays a crucial role in supporting various healthcare organizations within the Hartford Healthcare Corporation Integrated System. By pooling and investing endowment funds, the organization provides essential financial backing that enables hospitals and healthcare entities, such as Windham Community Memorial Hospital and Midstate Medical Center, to enhance their charitable activities and improve patient care.
This strategic investment approach not only ensures the long-term financial sustainability of these healthcare institutions but also enriches the communities they serve. The endowment funds support a range of programs and services aimed at promoting health and wellness, ensuring that these organizations can respond effectively to the needs of their patients and the broader population.
Ultimately, Hartford Healthcare Endowment LLC’s impact is reflected in the improved health outcomes of the communities it serves, the enhancement of healthcare services provided by its affiliated organizations, and the overall advancement of charitable healthcare initiatives within the region.
This information is meant to be a general summary of Hartford Healthcare Endowment Llc. 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 2022.
- Investment Income: $82,489,042
- Gross Receipts: $82,489,042
Assets and Liabilities:
- Total Assets: $1,938,113,000
- Total Liabilities: $0
- Net Assets: $1,938,113,000
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Organization Details
Founding Year
2016
Phone
(860) 696-6232Main Address
80 Seymour Street Cheney Building, Hartford, CT, 06102
NTEE Category
Code: E31 - Health
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