IMANCO INC

EIN: 541340725 501(c)(3)

FALLS CHURCH, VA

Total Revenue
$28,918,850
Total Expenses
$28,918,850
Total Assets
N/A
Net Assets
$-704,904
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
VA
Principal Officer
J Stephen Jones MD
Phone
7032892433
Tax Period
2018-01-01 to 2018-12-31

IMANCO INC, founded in 1984, is a mid-sized nonprofit that reported $28.9M in total revenue in fiscal year 2018. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Imanco is a not-for-profit management services company providing executive management oversight to the Inova Health System Foundation and its principal affiliates.

Program Service Accomplishments

Program 1
Expenses: $28,918,850 Revenue: $28,918,850

Imanco is a not-for-profit management services company that is an integral part of Inova Health System Foundation and that provides executive management oversight to the Inova Health System...

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Imanco is a not-for-profit management services company that is an integral part of Inova Health System Foundation and that provides executive management oversight to the Inova Health System Foundation and its principal affiliates. Inova affiliates include the following:Inova Health System Foundation (Foundation), a parent company, which also serves as a charitable foundation, raising funds to support Inova's tax-exempt entities. The Foundation operates in accordance with Inova's articles of incorporation, which provide that all funds raised, except for those required for the operations of the Foundation, be distributed or held in support of the charitable objectives and mission of Inova and its tax-exempt subsidiaries. Funds raised are channeled to the community in the form of expanded medical and other community services. During 2018, Foundation funds were used to support Inova's centers of excellence in cancer, cardiovascular and neurological care, as well as the Life with Cancer support and educational programs, the Forensic Assessment Consultation Team (FACT) program, and many other programs and services. In addition, donated funds were used in 2018 to support many other Inova programs including the Inova Juniper Program, Inova Center for Wellness and Metabolic Health, InovaCares Clinics for Women and Children, the Inova Health Plate Club and the Inova Kellar Center's Behavioral Services Program. Inova Health Care Services (IHCS) is a not-for-profit corporation that operates hospital facilities, programs, and other shared service arrangements and carries on education and research activities. As of December 31, 2018, IHCS operated four hospitals, having a total of 1,631 licensed hospital beds in Fairfax County, Virginia - Inova Fairfax Medical Campus (Fairfax), Inova Mount Vernon Hospital (Mount Vernon), Inova Alexandria Hospital (Alexandria) and Inova Fair Oaks Hospital (Fair Oaks). Each of these hospitals provides general acute care services, including emergency room facilities, inpatient and outpatient services, and a varying number of ancillary and specialized services based on the needs of the community. IHCS and its subsidiaries provide long-term care and behavioral health services. Long term care is provided through Inova Assisted Living, a transitional living facilities provider and through Elderlink, a cooperative program providing case management services to older adults. In addition, Comprehensive Addiction Treatment Services provides services to adults suffering from alcohol and other chemical dependencies. The Inova Kellar Center provides treatment for children and adolescents with substance abuse and behavioral and emotional problems. IHCS is also the parent company of four free-standing 24-hour emergency centers, which are affiliated with its hospitals, and operates the Inova Research Center, which provides a quality arena for professional education and clinical research. In addition, IHCS operates Inova Alexandria Foundation, a charitable foundation.Loudoun Hospital Center (LHC) is a not-for-profit corporation organized to promote the health and well-being of Loudoun County, Virginia, and surrounding areas. LHC operates Inova Loudoun Hospital Center (a 183-bed hospital), Loudoun Nursing and Rehabilitation Center, Ashburn HealthPlex, Loudoun Healthcare Foundation and other healthcare related facilities. Inova Holdings, Inc. (IHI) is the parent holding company for various taxable entities within Inova including Technical Dynamics Inc., a biomedical equipment maintenance and engineering company. IHI and its subsidiaries operate facilities providing a variety of health care and support services to patients and to affiliated health care providers.Inova Home Health (IHH) In September 2018, Inova entered into a joint venture with Alternate Solutions Health Network to restructure the management of the Inova VNA Home Care services. Inova maintains 51% ownership of the company, and the joint venture is now known as Inova Home Health (IHH).Inova Health Plan, LLC was a Medicaid managed care health insurance plan licensed by the Commonwealth of Virginia. The Plan served approximately 60,000 Temporary Assistance for Needy Families, Children's Health Insurance Program recipients, and Supplemental Security Income/Aged, Blind and Disabled members through the Medallion 3.0 and Family Access to Medical Insurance Security programs until the plan was sold to United Healthcare effective October 31, 2017. The Plan voluntarily surrendered its insurance license effective December 26, 2018 and had no members and no active business during 2018.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $28,918,850
Investment Income $0
Other Revenue $0
TOTAL REVENUE $28,918,850

Expense Breakdown

Grants Paid $0
Salaries & Benefits $28,918,850
Fundraising Expenses $0
Program Expenses $28,918,850
Other Expenses $0
TOTAL EXPENSES $28,918,850

Year-over-Year Comparison

2018 2017 Change
Revenue $28,918,850 $24,785,499 +0.2%
Expenses $28,918,850 $24,785,499 +0.2%
Net Income $0 $0 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
11
Volunteers
6

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
$10,489,712
Total Directors
6
$0
Key Employees
5
$10,279,353
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paul Saville Trustee 2.00
Director
$0 $0 $0
Nick Carosi Trustee 2.00
Director
$0 $0 $0
Tony Nader Trustee 3.00
Director
$0 $0 $0
Wesley Bush Trustee 3.00
Director
$0 $0 $0
Donna Morea Trustee 2.00
Director
$0 $0 $0
Mark Stavish Trustee 2.00
Director
$0 $0 $0
J Knox Singleton CEO, President, Ending 4/9/18 1.00
Officer
$4,616,750 $45,945 $4,662,695
Richard Magenheimer CFO, Secretary-Treasurer 2.00
Officer
$3,312,496 $716,003 $4,028,499
J Stephen Jones MD CEO, President, Beginning 4/9/18 1.00
Officer
$1,350,889 $447,629 $1,798,518
Mark Stauder COO, Ending 7/30/18 3.00
Key Emp
$4,784,635 $26,675 $4,811,310
Loring Flint EVP Chief Medical Officer 1.00
Key Emp
$1,777,748 $579,485 $2,357,233
James Santry EVP CEO DTC and AMB SVCS 4.00
Key Emp
$1,024,417 $41,037 $1,065,454
Consuelo Pilot EVP CIO 2.00
Key Emp
$1,050,519 $453,056 $1,503,575
Benjamin Frank COO Chief of Staff Beginning 7/30/18 50.00
Key Emp
$486,589 $55,192 $541,781
Terri Feely Chief People Officer 50.00
Highest
$192,639 $53,087 $245,726
Robert Grasty EVP CHRO CDO, Former 1.00
$210,100 $0 $210,100
John Niederhuber EVP,CEO ITMI, Former 1.00
$1,562,299 $48,784 $1,611,083
Marshall Ruffin EVP CTO, Former 1.00
$0 $0 $511,853
Patrick Christiansen EVP,CEO IFMC, Former 1.00
$2,402,133 $75,164 $2,477,297
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
2018 $28,918,850 $28,918,850 No data No data
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