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← UNIVERSITY OF MINNESOTA HEALTH CLINICS AND SURGERY CENTER INC

Form 990 for tax year 2023

Filed by UNIVERSITY OF MINNESOTA HEALTH CLINICS AND SURGERY CENTER INC.

Totals

Total revenue
$167,301,882
Total expenses
$223,174,831
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$167,301,112
Investment income
$770
Other revenue
$0
Total assets, end of year
$124,195,222
Total liabilities, end of year
$217,993,228
Net assets or fund balances, end of year
-$93,798,006
Program services expenses (Part IX)
$161,164,765
Management and general expenses
$62,010,066
Fundraising expenses
$0
Program service expenses (Part III)
$161,164,765

Program services were 72.2% 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: PATIENT SERVICE REVENU

    total $163,691,910 · related or exempt $163,691,910

  • 2b · Program service revenue: OTHER REVENUE

    total $3,609,202 · related or exempt $3,609,202

  • 7a · Gross sales of assets other than inventory

    other assets $770

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

    other assets $0

  • 7c · Gain or loss

    other assets $770

  • 7d · Net gain or loss

    total $770 · excluded $770

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $1,558 · management and general $1,558

  • 11c · Fees: accounting

    total $87,282 · management and general $87,282

  • 11g · Fees: other

    total $16,642,792 · program services $6,508,101 · management and general $10,134,691

  • 12 · Advertising and promotion

    total $2,088 · program services $1,635 · management and general $453

  • 13 · Office expenses

    total $761,201 · program services $574,589 · management and general $186,612

  • 14 · Information technology

    total $39,832 · program services $38,215 · management and general $1,617

  • 16 · Occupancy

    total $10,820,589 · program services $96,276 · management and general $10,724,313

  • 19 · Conferences, conventions and meetings

    total $151,140 · program services $45,784 · management and general $105,356

  • 20 · Interest

    total $41,412 · program services $12,884 · management and general $28,528

  • 22 · Depreciation, depletion and amortization

    total $2,340,833 · program services $1,560,353 · management and general $780,480

  • 23 · Insurance

    total $41,254 · management and general $41,254

  • 24a · Other expenses: LEASED EMPLOYEES

    total $135,539,469 · program services $120,528,804 · management and general $15,010,665

  • 24b · Other expenses: MEDICAL SUPPLIES/DRUGS

    total $26,475,389 · program services $26,475,389

  • 24c · Other expenses: GENERAL AND ADMIN

    total $24,583,204 · management and general $24,583,204

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $2,808,851 · program services $2,808,851

  • 24e · All other expenses

    total $2,837,937 · program services $2,513,884 · management and general $324,053

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,746,836 · end of year $10,798,424

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $17,978,643 · end of year $16,953,198

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $2,405,747 · end of year $2,558,237

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,076,790 · end of year $7,695,013

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

    $41,944,446

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

    $36,214,060

  • 10c · Land, buildings and equipment, net

    beginning of year $6,664,141 · end of year $5,730,386

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $85,424,580 · end of year $80,459,964

  • 17 · Accounts payable and accrued expenses

    beginning of year $78,715,659 · end of year $128,500,591

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $93,506,135 · end of year $89,492,637

  • 27 · Net assets without donor restrictions

    beginning of year -$37,925,057 · end of year -$93,798,006

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

UNIVERSITY OF MINNESOTA HEALTH CLINICS & SURGERY CENTER, INC. (CSC) (THE ORGANIZATION) IS THE RESULT OF A JOINT-VENTURE AGREEMENT BETWEEN ITS MEMBERS, USING THE POWER OF AN INTEGRATED ACADEMIC HEALTH SYSTEM. THE ORGANIZATION IS COMPRISED OF MULTIPLE PHYSICIAN SPECIALTIES (CLINIC SERVICE UNITS). CSC THRU ITS MEMBER(S) IS AFFILIATED WITH VARIOUS MEDICAL DEPARTMENTS OF THE UNIVERSITY OF MINNESOTA'S SCHOOL OF MEDICINE (MEDICAL SCHOOL). THE RELATIONSHIP AFFILIATION DEFINS THE ORGANIZATION'S MAIN PURPOSE WHICH IS TO DEVELOP AND OPERATE AN AMBULATORY CARE CENTER DEDICATED TO ADVANCING MEDICAL RESEARCH AND EDUCATION AND PROVIDING HEALTH CARE SERVICES.

Activities or mission (Part I)

JOINT VENTURE TO PROVIDE BREAKTHROUGH MEDICINE AND TRANSFORM THE HEALTH OF THE COMMUNITY USING THE POWER OF AN INTEGRATED ACADEMIC HEALTH SYSTEM.

  • THE ORGANIZATION PROVIDES COMPREHENSIVE HEALTHCARE SERVICES TO PATIENTS THROUGH ITS FACILITIES WHILE SUPPORTING THE EDUCATION AND RESEARCH MISSION OF THE UNIVERSITY'S ACADEMIC HEALTH CENTER. THROUGH THE DELIVERY OF PATIENT CARE, THE ORGANIZATION ADVANCES CLINICAL TRAINING, MEDICAL EDUCATION, AND RESEARCH INITIATIVES OF THE UNIVERSITY'S MEDICAL SCHOOL AND OTHER SCHOOLS IN THE ACADEMIC HEALTH CENTER.

    Expenses $161,164,765 · Revenue $167,301,112

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

Listed in Part VII

  • Jakub Tolar MD PhD

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Hereford

    TREASURER AND SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Myron Frans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Welton MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laura Reed

    DIRECTOR THRU DEC 2023

    Total calculated
    $0
    Hours/week
    1

  • Bevan Yueh MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Sibert

    DIRECTOR, CFO

    Total calculated
    $0
    Hours/week
    1

  • Joe Gaylord

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • INTEGRATED STRUCTURE LLC

    HOLDING COMPANY · MN

    Directly controlled by NONE

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443179349302544

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