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← PRAIRIE RESEARCH AND EDUCATION COOPERATIVE

Form 990 for tax year 2022

Filed by PRAIRIE RESEARCH AND EDUCATION COOPERATIVE.

Totals

Total revenue
$4,083,136
Total expenses
$3,955,138
Contributions and grants received
$246,600
Grants paid
$600
Program service revenue
$3,784,917
Investment income
$51,619
Other revenue
$0
Total assets, end of year
$4,983,358
Total liabilities, end of year
$432,824
Net assets or fund balances, end of year
$4,550,534
Program services expenses (Part IX)
$3,469,774
Management and general expenses
$485,364
Fundraising expenses
$0
Program service expenses (Part III)
$3,469,774

Program services were 87.7% 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.

  • 1d · Related organizations

    $213,114

  • 1e · Government grants (contributions)

    $33,486

  • 2a · Program service revenue: CONTRACT REVENUE

    total $3,784,917 · related or exempt $3,784,917

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $45,574 · excluded $45,574

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $6,045

  • 7c · Gain or loss

    securities $6,045 · other assets $0

  • 7d · Net gain or loss

    total $6,045 · excluded $6,045

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $600 · program services $600

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,121,040 · program services $1,080,348 · management and general $40,692 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $1,700,324 · program services $1,410,249 · management and general $290,075

  • 8 · Pension plan contributions

    total $63,133 · program services $52,363 · management and general $10,770 · fundraising $0

  • 9 · Other employee benefits

    total $295,423 · program services $245,236 · management and general $50,187 · fundraising $0

  • 10 · Payroll taxes

    total $135,426 · program services $112,322 · management and general $23,104 · fundraising $0

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $12,053 · program services $12,053 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

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

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

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

  • 11g · Fees: other

    total $247,329 · program services $230,105 · management and general $17,224 · fundraising $0

  • 12 · Advertising and promotion

    total $330 · program services $330 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $8,829 · program services $7,719 · management and general $1,110 · fundraising $0

  • 14 · Information technology

    total $5,270 · program services $4,371 · management and general $899 · fundraising $0

  • 15 · Royalties

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

  • 16 · Occupancy

    total $246,675 · program services $204,595 · management and general $42,080 · fundraising $0

  • 17 · Travel

    total $29,974 · program services $29,925 · management and general $49

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $2,806 · program services $2,806 · management and general $0 · fundraising $0

  • 20 · Interest

    total $160 · program services $133 · management and general $27 · fundraising $0

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $10,980 · program services $10,403 · management and general $577 · fundraising $0

  • 23 · Insurance

    total $29,113 · program services $25,116 · management and general $3,997 · fundraising $0

  • 24a · Other expenses: Maintenance

    total $28,002 · program services $24,328 · management and general $3,674

  • 24b · Other expenses: Certifications

    total $8,850 · program services $8,850 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues, subscriptions, licenses

    total $3,514 · program services $3,514 · management and general $0 · fundraising $0

  • 24d · Other expenses: Employee Functions and gifts

    total $5,292 · program services $4,408 · management and general $884

  • 24e · All other expenses

    total $15 · program services $0 · management and general $15 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    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 $1,594,002 · end of year $1,817,903

  • 2 · Savings and temporary cash investments

    beginning of year $853,701 · end of year $869,375

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $572,394 · end of year $559,713

  • 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 $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,427 · end of year $35,293

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

    $268,051

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

    $246,941

  • 10c · Land, buildings and equipment, net

    beginning of year $25,360 · end of year $21,110

  • 11 · Investments: publicly traded securities

    beginning of year $1,223,320 · end of year $1,267,238

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $88,406 · end of year $412,726

  • 17 · Accounts payable and accrued expenses

    beginning of year $237,404 · end of year $268,391

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $73,439 · end of year $94,224

  • 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 $104,775 · end of year $70,209

  • 27 · Net assets without donor restrictions

    beginning of year $4,001,992 · end of year $4,550,534

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THE PURPOSE OF THE ORGANIZATION IS TO ENGAGE IN ACTIVE CONTINUOUS MEDICAL RESEARCH TO FURTHER THE UNDERSTANDING OF APPLICATIONS OF NEW MODES OF THERAPY FOR CARDIOVASCULAR DISEASE, DIABETES AND NEUROLOGICAL DISORDERS.

  • Continuing Education: Provide all forms of continuing education for the entire Hospital Sisters Health System. The program strives to provide educational activities that are based on identified gaps through a formal needs assessment involving the educational facilitators, program planners, and content reviewers. The scope of the programs include, but are not limited to: cardiac, vascular, and general medical care, including prevention, diagnosis, treatment, rehabilitation, quality improvement, and cost effectiveness. There were approximately 124 CME and 65 CNE events conducted in FY 2023.

    Expenses $1,907,254 · Revenue $2,046,658

  • -Participate in Phase I-IV clinical trials as an enrolling site in a wide range of therapeutic areas with a focus on cardiovascular, diabetes, and neurology research. Trials are sponsored and funded by device and pharmaceutical companies. Participated in approximately 54 cardiovascular trials, 12 diabetes trials, and 10 neurology trials in FY 2023. -Conduct Clinical Events Committee (CEC) and Data and Safety Monitoring Board (DSMB) management for medical device sponsors. Provide individuals with expertise to advise the sponsor on the continuing safety of trial subjects. Provide oversight of trial data to determine that sponsors are compliant with conducting trials that are ethical, safe for subjects, and produce good, reliable data. Provided CEC/DSMB management for approximately 5 clinical trials in FY 2023. -Provide analysis of angiographic images for clinical research trials sponsored by device or pharmaceutical companies. Provided angiographic analysis in approximately 4 clinical trials in FY 2023.

    Expenses $1,562,520 · Grants $600 · Revenue $1,738,259

As filed on the 2022 return.

Listed in Part VII

  • Brenda Jeffers

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Janet Roglis

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • John Voss

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Marc Shelton MD

    2022 PRESIDENT & CEO (until 4/6/23) / Physician

    Total calculated
    $1,494,059
    From this org
    $0
    From related orgs
    $1,330,720
    Other
    $163,339
    Hours/week
    2.5 + 57.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $859,848 related
    Bonus
    $0 + $181,018 related
    Other
    $0 + $289,854 related
    Deferred
    $0 + $131,320 related
    Nontaxable benefits
    $0 + $32,019 related
    Filer's total
    $0 + $1,494,059 related

  • Avinash Murthy

    DIRECTOR

    Total calculated
    $964,640
    From this org
    $0
    From related orgs
    $918,152
    Other
    $46,488
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $855,940 related
    Bonus
    $0 + $60,341 related
    Other
    $0 + $1,871 related
    Deferred
    $0 + $20,084 related
    Nontaxable benefits
    $0 + $26,404 related
    Filer's total
    $0 + $964,640 related

  • Bharath Rajagopalan MD

    Director / physician

    Total calculated
    $882,519
    From this org
    $839,776
    From related orgs
    $0
    Other
    $42,743
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $740,824
    Bonus
    $96,343
    Other
    $2,609
    Deferred
    $6,100
    Nontaxable benefits
    $36,643
    Filer's total
    $882,519

  • Jacob Kitchener

    DIRECTOR (until 1/31/23)

    Total calculated
    $348,952
    From this org
    $0
    From related orgs
    $274,205
    Other
    $74,747
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $265,155 related
    Bonus
    $0 + $8,750 related
    Other
    $0 + $300 related
    Deferred
    $0 + $62,466 related
    Nontaxable benefits
    $0 + $12,281 related
    Filer's total
    $0 + $348,952 related

  • Jenny Chambers

    COO

    Total calculated
    $238,520
    From this org
    $232,260
    From related orgs
    $0
    Other
    $6,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,061
    Bonus
    $0
    Other
    $48,199
    Deferred
    $5,146
    Nontaxable benefits
    $1,114
    Filer's total
    $238,520

  • Preetham Muskula

    Advanced Vascular Fellow

    Total calculated
    $174,260
    From this org
    $158,021
    From related orgs
    $0
    Other
    $16,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,021
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,239
    Filer's total
    $174,260

  • Suresh Kulandhaisamy MD

    physician

    Total calculated
    $524,399
    From this org
    $463,490
    From related orgs
    $0
    Other
    $60,909
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $453,109
    Bonus
    $7,801
    Other
    $2,580
    Deferred
    $24,211
    Nontaxable benefits
    $36,698
    Filer's total
    $524,399

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
PLEASE SEE RESPONSE TO FORM 990, PART VI, LINE 15A IN SCHEDULE O.

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.

  • KIARA CLINICAL INTEGRATION NETWORK LLC

    HEALTHCARE · IL · income -$105,950 · assets $447,864

    Directly controlled by HSSI

  • PHYSICIAN CLINICAL INTEGRATION NETWORK LLC

    HEALTHCARE · IL · income $554,315 · assets $15,980,466

    Directly controlled by KCIN

  • HSHS ACO LLC

    HEALTHCARE & SOCIAL ASSISTANCE · IL · income $1,805,698 · assets $3,189,003

    Directly controlled by KCIN

Related partnerships

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

  • SPRINGFIELD URGENT CARE REAL ESTATE LLC

    N/A · RENTAL REAL ESTATE · IL · 0% owned

    Directly controlled by LASANTE INC

  • PRAIRIE HEART INSTITUTE MANAGEMENT COMPANY LLC

    Related · MEDICAL · IL · 100% owned · share of income -$7,032 · share of assets $12,572 · general or managing partner

    Directly controlled by HSHS

  • SOUTHWEST ILLINOIS HEALTH SERVICES REAL ESTATE LLP

    Related · REAL ESTATE · IL · 50% owned · share of income -$126,650 · share of assets $1,434,911

    Directly controlled by St John's

  • REHABILITATION HOSPITAL OF WESTERN WISCONSIN LLC

    Related · Medical · DE · 50% owned · share of income -$80,505 · share of assets $4,187,830

    Directly controlled by HSHS

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • KIARA INC

    C Corporation · HEALTHCARE · IL · 100% owned · share of income $601,904 · share of assets $18,670,450 · controlled entity

    Directly controlled by HSHS

  • LASANTE WISCONSIN INC

    C Corporation · HEALTHCARE · IL · controlled entity

    Directly controlled by KIARA INC

  • LASANTE INC

    C Corporation · HEALTHCARE · IL · controlled entity

    Directly controlled by KIARA INC

  • PREVEA HEALTH SERVICES INC

    C Corporation · HEALTHCARE · WI · 50% owned · share of income -$1,641,640 · share of assets $24,425,128 · controlled entity

    Directly controlled by HSSI

  • PREVEA CLINIC INC

    C Corporation · HEALTHCARE · WI · controlled entity

    Directly controlled by PHSI

  • RENAISSANCE QUALITY INSURANCE LTD

    C Corporation · INSURANCE · CJ · 100% owned · share of income $0 · share of assets $156,895,227 · controlled entity

    Directly controlled by HSSI

  • OJV INC

    C Corporation · HEALTHCARE · IL · controlled entity

    Directly controlled by LASANTE INC

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202421319349304747

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