Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $11,804

• 1f · All other contributions, gifts and grants

  $1,486

• 2a · Program service revenue: NET PATIENT SERVICE RE

  total $143,209,663 · related or exempt $143,209,663

• 2b · Program service revenue: CAFETERIA REVENUE

  total $313,588 · excluded $313,588

• 2c · Program service revenue: MISC OTHER OPERATING R

  total $306,253 · related or exempt $306,253

• 3 · Investment income

  total $162,400 · excluded $162,400

• 6a · Gross rents

  real property $236,052

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $236,052

• 6d · Net rental income or loss

  total $236,052 · excluded $236,052

• 7a · Gross sales of assets other than inventory

  other assets $19,679

• 7b · Less cost or other basis and sales expenses

  other assets $7,642

• 7c · Gain or loss

  other assets $12,037

• 7d · Net gain or loss

  total $12,037 · excluded $12,037

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $311,795 · management and general $311,795

• 7 · Other salaries and wages

  total $58,430,372 · program services $57,393,824 · management and general $1,036,548

• 8 · Pension plan contributions

  total $1,546,625 · program services $1,497,809 · management and general $48,816

• 9 · Other employee benefits

  total $8,032,773 · program services $7,838,761 · management and general $194,012

• 10 · Payroll taxes

  total $3,427,791 · program services $3,321,826 · management and general $105,965

• 11b · Fees: legal

  total $30,000 · management and general $30,000

• 11c · Fees: accounting

  total $24,282 · management and general $24,282

• 11g · Fees: other

  total $17,504,161 · program services $15,663,117 · management and general $1,841,044

• 12 · Advertising and promotion

  total $163,451 · program services $163,412 · management and general $39

• 13 · Office expenses

  total $1,231,020 · program services $1,208,569 · management and general $22,451

• 14 · Information technology

  total $1,790,806 · program services $1,594,059 · management and general $196,747

• 16 · Occupancy

  total $2,778,325 · program services $2,381,287 · management and general $397,038

• 17 · Travel

  total $121,944 · program services $99,315 · management and general $22,629

• 20 · Interest

  total $1,797,164 · program services $1,797,164

• 22 · Depreciation, depletion and amortization

  total $3,952,286 · program services $3,952,286

• 24a · Other expenses: MEDICAL SUPPLIES

  total $34,173,851 · program services $34,097,429 · management and general $76,422

• 24b · Other expenses: INTERCOMPANY P/S

  total $12,765,469 · program services $580,094 · management and general $12,185,375

• 24c · Other expenses: MI MEDICAID ACCESS TAX

  total $5,514,082 · program services $5,514,082

• 24d · Other expenses: EQUIP REPAIRS & MAINT

  total $798,411 · program services $711,512 · management and general $86,899

• 24e · All other expenses

  total $343,221 · program services $273,316 · management and general $69,905

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,185,243 · end of year $5,536,756

• 2 · Savings and temporary cash investments

  beginning of year $960,000 · end of year $1,180,000

• 3 · Pledges and grants receivable

  beginning of year $10,659 · end of year $0

• 4 · Accounts receivable

  beginning of year $2,094,670 · end of year $20,767,647

• 8 · Inventories for sale or use

  beginning of year $5,886,791 · end of year $6,508,674

• 9 · Prepaid expenses and deferred charges

  beginning of year $626,753 · end of year $775,823

• 10a · Land, buildings and equipment: cost or other basis

  $49,781,009

• 10b · Land, buildings and equipment: accumulated depreciation

  $9,471,672

• 10c · Land, buildings and equipment, net

  beginning of year $40,834,406 · end of year $40,309,337

• 11 · Investments: publicly traded securities

  beginning of year $360 · end of year -$643

• 13 · Investments: program-related

  beginning of year $899,270 · end of year $702,015

• 14 · Intangible assets

  beginning of year $503,085 · end of year $266,534

• 15 · Other assets

  beginning of year $3,235,653 · end of year $2,925,766

• 17 · Accounts payable and accrued expenses

  beginning of year $10,160,011 · end of year $4,060,864

• 19 · Deferred revenue

  beginning of year $856,933 · end of year $848,092

• 20 · Tax-exempt bond liabilities

  beginning of year $1,644,593 · end of year $15,200,360

• 23 · Secured mortgages and notes payable

  beginning of year $38,900,361 · end of year $23,139,094

• 25 · Other liabilities

  beginning of year $2,463,216 · end of year $2,004,132

• 27 · Net assets without donor restrictions

  beginning of year $10,202,589 · end of year $33,710,180

• 28 · Net assets with donor restrictions

  beginning of year $9,187 · end of year $9,187

The filer's explanations (Part III)

PART I, LINE 3

THE MARSHFIELD CLINIC HEALTH SYSTEM'S (MCHS) INDEPENDENT COMPENSATION COMMITTEE (THE COMMITTEE) HAS FINAL AUTHORITY FOR APPROVING COMPENSATION AND BENEFITS OF ALL DISQUALIFIED PERSONS EMPLOYED BY ANY OF THE ORGANIZATIONS IN THE SYSTEM. THE COMMITTEE USES COMBINATIONS OF THE FOLLOWING TO EVALUATE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE, AND WRITTEN EMPLOYMENT CONTRACTS.

PART I, LINES 4A-B

LINE 4A: IN 2024, SUSAN TURNEY, MD RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $1,879,544 AND CATHY BUKOWSKI RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $631,969. LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AND RECEIVED A DISTRIBUTION FROM OR HAD AMOUNTS VEST IN THE PLAN: SUSAN TURNEY, MD - $362,171