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Nonprofiteer
← MILWAUKEE REGIONAL MEDICAL CENTER INC

Form 990 for tax year 2023

Filed by MILWAUKEE REGIONAL MEDICAL CENTER INC.

Totals

Total revenue
$6,211,442
Total expenses
$4,547,756
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,091,665
Investment income
$1,119,502
Other revenue
$275
Total assets, end of year
$89,321,110
Total liabilities, end of year
$85,811,525
Net assets or fund balances, end of year
$3,509,585
Program services expenses (Part IX)
$2,744,227
Management and general expenses
$1,803,529
Fundraising expenses
$0
Program service expenses (Part III)
$2,744,227

Program services were 60.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Charges for Services

    total $3,253,265 · related or exempt $3,253,265

  • 2b · Program service revenue: Membership dues

    total $1,838,400 · related or exempt $1,838,400

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,119,502 · excluded $1,119,502

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: OTHER REVENUE

    total $275 · excluded $275

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $275

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $251,781 · management and general $251,781

  • 7 · Other salaries and wages

    total $447,106 · management and general $447,106

  • 9 · Other employee benefits

    total $100,788 · management and general $100,788

  • 10 · Payroll taxes

    total $30,588 · management and general $30,588

  • 11g · Fees: other

    total $1,120,555 · program services $475,060 · management and general $645,495 · fundraising $0

  • 16 · Occupancy

    total $239,808 · program services $109,203 · management and general $130,605

  • 17 · Travel

    total $16,418 · program services $338 · management and general $16,080

  • 20 · Interest

    total $1,045,252 · program services $1,044,245 · management and general $1,007

  • 22 · Depreciation, depletion and amortization

    total $657,412 · program services $611,199 · management and general $46,213

  • 23 · Insurance

    total $236,484 · program services $214,728 · management and general $21,756

  • 24a · Other expenses: Other

    total $290,971 · program services $286,252 · management and general $4,719

  • 24b · Other expenses: Supplies and Maintenance

    total $109,693 · program services $3,202 · management and general $106,491

  • 24c · Other expenses: Public Relations

    total $900 · management and general $900

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $121,873 · end of year $2,718,787

  • 2 · Savings and temporary cash investments

    beginning of year $25,817,069 · end of year $10,648,471

  • 4 · Accounts receivable

    beginning of year $8,079,476 · end of year $4,806,749

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $601,979 · end of year $363,818

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

    $40,418,268

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

    $1,421,725

  • 10c · Land, buildings and equipment, net

    beginning of year $45,203,660 · end of year $38,996,543

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $729,701 · end of year $31,786,742

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,064,397 · end of year $5,113,928

  • 20 · Tax-exempt bond liabilities

    beginning of year $47,366,695 · end of year $47,262,603

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $14,551,830 · end of year $19,350

  • 24 · Unsecured notes and loans payable

    beginning of year $1,137,207 · end of year $0

  • 25 · Other liabilities

    beginning of year $883,654 · end of year $33,415,644

  • 27 · Net assets without donor restrictions

    beginning of year $10,478,689 · end of year $3,447,875

  • 28 · Net assets with donor restrictions

    beginning of year $71,286 · end of year $61,710

Mission and programs · 2023

Mission

The primary purpose of the Medical Center is to aid and support the development and provision of health services in Wisconsin by assisting its members to develop and operate programs of education, research, and patient care. The Medical Center also facilitates the efficient development and functioning of the Medical Center campus.

Activities or mission (Part I)

Aid and support the development and provision of health services in Wisconsin.

  • MRMC Infrastructure owns, develops, constructs, improves, maintains, and replaces transportation and utility infrastructure improvements on the MRMC Campus.

    Expenses $2,744,227 · Revenue $3,253,265

  • Milwaukee Regional Medical Center, Inc. (the Center) and Subsidiaries (collectively MRMC) is a nonstock, not-for-profit voluntary consortium of private nonprofit institutions that are involved in the delivery of health services, the education of health personnel, the conduct of health-related research and the provision of support per thermal, water and infrastructure services to its members. MRMC's core members are Children's Hospital of Wisconsin, Froedtert Memorial Lutheran Hospital and the Medical College of Wisconsin. Affiliate members include the Milwaukee Regional Medical Center Land Bank, LLC and the Versiti Blood Center of Wisconsin. The purposes of MRMC are (1) to aid and support the development and provision of tertiary level health services in the Milwaukee region by assisting its members to develop and operate high-quality, efficient programs of education, research and patient care and (2) to facilitate the efficient development and functioning of the MRMC Campus. The Center conducts planning, coordinating and development activities and, when appropriate, organizes and/or operates such programs and services to achieve these purposes.

    Revenue $1,838,400

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cathy Jacobson

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Dr John Raymond

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Marc Cadieux

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Margaret Troy

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Eric Conley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matthew Lester

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rachel Stauffer

    VP OF FINANCE

    Total calculated
    $132,623
    From this org
    $125,242
    From related orgs
    $0
    Other
    $7,381
    Hours/week
    36 + 4 related

  • Robert Simi

    Executive Director MRMC

    Total calculated
    $0
    Hours/week
    35 + 5 related

  • Robert W Mlynarek

    VP of Finance (TERM. 05/2023)

    Total calculated
    $299,194
    From this org
    $267,551
    From related orgs
    $0
    Other
    $31,643
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $251,781
    Bonus
    $15,770
    Other
    $0
    Deferred
    $25,365
    Nontaxable benefits
    $6,278
    Filer's total
    $299,194

  • Alfred Stucki

    Director of Finance

    Total calculated
    $223,580
    From this org
    $189,144
    From related orgs
    $0
    Other
    $34,436
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,144
    Bonus
    $0
    Other
    $0
    Deferred
    $19,368
    Nontaxable benefits
    $15,068
    Filer's total
    $223,580

  • Leif Erickson

    Executive Director Flight For Life

    Total calculated
    $264,298
    From this org
    $219,803
    From related orgs
    $0
    Other
    $44,495
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,813
    Bonus
    $25,990
    Other
    $0
    Deferred
    $22,323
    Nontaxable benefits
    $22,172
    Filer's total
    $264,298

  • Mark Geronime

    VP of Operations

    Total calculated
    $291,355
    From this org
    $249,815
    From related orgs
    $0
    Other
    $41,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,851
    Bonus
    $31,964
    Other
    $0
    Deferred
    $19,368
    Nontaxable benefits
    $22,172
    Filer's total
    $291,355

  • Sheri Schmit

    VP of Transportation Services

    Total calculated
    $285,611
    From this org
    $239,480
    From related orgs
    $0
    Other
    $46,131
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,772
    Bonus
    $26,708
    Other
    $0
    Deferred
    $23,959
    Nontaxable benefits
    $22,172
    Filer's total
    $285,611

  • Tiffany Mundt

    Education Coordinator

    Total calculated
    $154,456
    From this org
    $154,456
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,456
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $154,456

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Form 990, Part VII, Section A, Line 5: COMPENSATION FROM AN UNRELATED PARTY
COMPENSATION FROM AN UNRELATED PARTY UNRELATED ORGANIZATION: FROEDTERT MEMORIAL LUTHERAN HOSPITAL, EIN 39-6105970. EMPLOYEE LEASING ARRANGEMENT WITH MILWAUKEE REGIONAL MEDICAL CENTER, INC. (RELATED PARTY) EMPLOYEE: ROBERT SIMI BASE COMPENSATION: $260,116 BONUS: $52,508

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • milwaukee regional medical center infrastructure llc

    develop, maintain transport. & utility infra. on the MRMC campus. · WI · income $4,372,767 · assets $54,957,101

    Directly controlled by Milwaukee regional medical center inc

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

1 distribution to a recipient named as a person, $8,320,623. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423199349317687

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