Oklahoma Foundation for Medical Quality Inc

EIN: 237336073 501(c)(3) Health Care

Oklahoma City, OK

Total Revenue
$2,797,800
Total Expenses
$2,703,624
Total Assets
$4,414,461
Net Assets
$3,500,146
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
OK
Principal Officer
Lindsey Wiley
Phone
4058402891
Tax Period
2023-10-01 to 2024-09-30

Oklahoma Foundation for Medical Quality Inc, founded in 1972, is a community nonprofit in the Health Care sector that reported $2.8M in total revenue in fiscal year 2023. Expenses of $2.7M left a modest 3% surplus.

Mission

Promoting the improvement of health care and public health

Program Service Accomplishments

Program 1
Expenses: $1,912,271 Revenue: $2,757,907

Quality Improvement and Assurance: Through a CMS subcontract, are services to implement the American Indian/Alaska Native Healthcare Quality Initiative designed to help Indian Health Service (IHS)...

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Quality Improvement and Assurance: Through a CMS subcontract, are services to implement the American Indian/Alaska Native Healthcare Quality Initiative designed to help Indian Health Service (IHS) hospitals instill strong organizational systems and processes that serve as the foundation for providing high quality healthcare to American Indians living on and around IHS reservations and Alaska Natives. Health Information Technology: OFMQ assists providers and hospitals to implement and more meaningfully use technology to improve patient care and outcomes. Assistance is provided in the adoption of electronic medical records systems and payment and quality programs. Consulting services include quality improvement and technology assistance. Other Sevices: Medical case reviewes are conducted focusing on evaluating and improving health care to meet the needs of our customers. Quality improvement support services are provided to hospitals and critical access hospitals. Services provided to the community include peer review for credentialing, statistical analysis, clinical research, continuous quality improvement training and health care quality improvement projects. Utilization review, quality of care review and diagnosis-related group (DRG) validation services are also provided for fee-for-service claims for the Oklahoma Medicaid Program.OFMQ also assists in reducing food insecurity in Oklahoma through a grant provided by the Gus Schumacher Nutrition Incentive Program. Also through a Health Resources & Services Administration (HRSA) grant, OFMQ provides services to address barriers to access in rurual communities related to substance abuse disorder (SUD), particularly opiod use disorder (OUD). Also through a HRSA grant, OFMQ has developed a consortium to reduce the onset of diabetes and other related chronic conditions in western Oklahoma rural communities.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,757,907
Investment Income $39,893
Other Revenue $0
TOTAL REVENUE $2,797,800

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,978,586
Fundraising Expenses $0
Program Expenses $1,912,271
Other Expenses $725,038
TOTAL EXPENSES $2,703,624

Year-over-Year Comparison

2023 2022 Change
Revenue $2,797,800 $2,902,193 0.0%
Expenses $2,703,624 $2,477,578 +0.1%
Net Income $94,176 $424,615 -0.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
6
Independent Members
5
Employees
25
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$307,343
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Lindsey Wiley Executive Dir. 40.00
Officer
$143,764 $19,580 $163,344
Melissa Hedrick CFO 40.00
Officer
$119,368 $24,631 $143,999
Sarah Clutts Board Chair 4.00
Officer Director
$0 $0 $0
Kurt Downing Director 1.00
Director
$0 $0 $0
Will Griffin Director 1.00
Director
$0 $0 $0
Justin Slaughter Director 1.00
Director
$0 $0 $0
Dr Ronald Hopkins Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,797,800 $2,703,624 $4,414,461 $94,176
2023 $2,902,193 $2,477,578 $4,132,033 $424,615
2022 $3,170,644 $2,669,571 $3,406,975 $501,073
2021 $2,925,995 $2,157,907 $3,419,939 $768,088
2020 $2,329,606 $2,956,695 $3,365,923 $-627,089
2019 $4,539,594 $6,497,420 $3,489,435 $-1,957,826
2018 $5,902,141 $6,430,485 $5,278,935 $-528,344
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