Overview
What is Sacred Heart Health Ventures Inc?
Sacred Heart Health Ventures Inc, an integral part of Ascension Health, the largest Catholic healthcare system in the U.S., works towards enhancing community health and societal welfare. The organization's primary goal is to uphold the healing mission of the church. Through its 51% ownership of PET LLC, Sacred Heart Health Ventures provides a significant portion of medical services to the elderly and underserved. During the 2022 fiscal year, they rendered services worth 59.71% to elderly patients under Medicare, and showed commitment to serving the uninsured, underinsured, and underserved by shouldering an estimated unreimbursed cost of $148,175. Additionally, PET LLC offers out-patient PET scan and CT scan services to the community. In essence, Sacred Heart Health Ventures is a charitable entity dedicated to serving the community's healthcare needs, providing necessary medical services, and extending charity to those unable to cover their expenses.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 39% (Zero-Star out of Four Star rating)
Sacred Heart Health Ventures Inc has received a low rating of 39% from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The organization lacks independent board members, which raises questions about governance and oversight. While it has some positive aspects, such as the presence of a Conflict of Interest Policy and an Audit and Oversight Committee, the overall financial performance and transparency are points of concern.
Key indicators of financial health show a troubling picture, with a Program Expense Ratio of 0.00%, suggesting that none of its funds are being directed toward programs. Additionally, the organization's liabilities to assets ratio is notably poor at 4.34%, raising further alarms about its financial stability. The lack of a publicly available website and missing tax form information further diminishes transparency.
While there are policies in place to protect whistleblowers and ensure document retention, the absence of independent oversight and the absence of key financial disclosures leave potential donors with a lot of unanswered questions. Overall, improvements are needed for Sacred Heart Health Ventures Inc to enhance its accountability and effectively demonstrate its impact on the community.
This AI summary has been generated from information found on Charity Navigator.
Is Sacred Heart Health Ventures Inc legitimate?
Sacred Heart Health Ventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sacred Heart Health Ventures Inc 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 Sacred Heart Health Ventures Inc?
Sacred Heart Health Ventures Inc's mission is centered around serving all individuals, with a focus on the vulnerable and less fortunate. Rooted in the healing ministry of Jesus, the organization is dedicated to holistic healthcare that sustains and enhances the health of individuals and communities. They are committed to advocating for a compassionate and just society, demonstrating this through their actions and words. Additionally, Sacred Heart Health Ventures Inc invests in organizations providing medical or health services to the community, aiming to improve access to specialized treatments and enhance the overall health and well-being of citizens.
Who is the CEO of Sacred Heart Health Ventures Inc?
Unavailable The CEO's salary of Sacred Heart Health Ventures Inc is $0 and their total compensation is $2,014,396.
What is the revenue of Sacred Heart Health Ventures Inc?
Sacred Heart Health Ventures Inc's revenue in 2022 was $2,649,267.
Who are the executives of Sacred Heart Health Ventures Inc and what are their salaries?
Here are 4 key members and their salaries (Sacred Heart Health Ventures Inc's CEO's salary is $0 and their total compensation is $2,014,396):
- Compensation: $0
- Related: $1,241,155
- Other: $46,073
- Compensation: $0
- Related: $711,538
- Other: $37,039
- Compensation: $0
- Related: $1,962,175
- Other: $52,221
- Compensation: $0
- Related: $100,988
- Other: $576
Where can I find the form 990 for Sacred Heart Health Ventures Inc?
Sacred Heart Health Ventures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sacred Heart Health Ventures Inc
Sacred Heart Health Ventures Inc, guided by the healing ministry of Jesus, is committed to serving all individuals, with a particular focus on the poor and vulnerable. Their mission is rooted in providing compassionate and holistic healthcare, aimed at improving the health and well-being of communities. This Catholic health ministry strives to ensure that specialized treatments are accessible and available to the community, ultimately contributing to the betterment of individuals and communities as a whole. In line with their mission, Sacred Heart Health Ventures Inc advocates for a just and compassionate society, using both their actions and words to promote social change.
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Impact
July, 2024
Sacred Heart Health Ventures Inc's impact is evident in its commitment to improving the health and well-being of citizens and enhancing access to specialized medical treatments. Through its investment in organizations providing medical and health-related services, Sacred Heart Health Ventures Inc contributes to the overall health of individuals, families, and society as a whole. By owning PET LLC, the organization delivers essential patient services and care, particularly focusing on the elderly and indigent populations.
Sacred Heart Health Ventures Inc's mission to perpetuate the healing ministry of the Church is exemplified by its provision of unreimbursed services to the elderly and the poor. Approximately 59.71% of services rendered are dedicated to elderly patients under the Medicare program. Additionally, the organization addresses healthcare accessibility and financing issues to ensure quality care for all individuals, including the uninsured and underinsured.
Furthermore, through PET LLC, Sacred Heart Health Ventures Inc provides outpatient PET scan and CT scan services to the community, benefitting a significant number of individuals. By offering essential medical services, training healthcare professionals, and providing charity services to those in need, the organization plays a crucial role in meeting the healthcare needs of the community.
As part of the Ascension Catholic health ministry, Sacred Heart Health Ventures Inc supports the broader mission of caring for patients, communities, and caregivers, especially during challenging times such as the COVID-19 pandemic. Through its dedication to serving the poor and vulnerable, the organization embodies the values of compassion, justice, and holistic care rooted in the ministry of Jesus as a healer.
This information is meant to be a general summary of Sacred Heart Health Ventures Inc. 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.
- Program Service Revenue: $2,649,267
- Gross Receipts: $2,649,267
Assets and Liabilities:
- Total Assets: $6,896,061
- Total Liabilities: $2,888,079
- Net Assets: $4,007,982
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Investment in PET, LLC
Revenue
$2,649,267
Organization Details
Founding Year
2003
Phone
(314) 733-8000Main Address
C/O TAX DEPARTMENT PO BOX 45998, ST LOUIS, MO, 631455998
NTEE Category
Code: E21 - Health
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