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Nonprofiteer
← FREEPORT MEMORIAL HOSPITAL

Form 990 for tax year 2023

Filed by FREEPORT MEMORIAL HOSPITAL.

Totals

Total revenue
$175,350,247
Total expenses
$154,123,019
Contributions and grants received
$1,169,171
Grants paid
$0
Program service revenue
$173,534,554
Investment income
$646,522
Other revenue
$0
Total assets, end of year
$101,724,533
Total liabilities, end of year
$31,124,738
Net assets or fund balances, end of year
$70,599,795
Program services expenses (Part IX)
$149,413,637
Management and general expenses
$4,709,382
Fundraising expenses
$0
Program service expenses (Part III)
$149,413,637

Program services were 96.9% 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.

  • 1f · All other contributions, gifts and grants

    $1,169,171

  • 2a · Program service revenue: PATIENT REVENUE

    total $162,943,120 · related or exempt $162,912,715 · unrelated business $30,405

  • 2b · Program service revenue: PROVIDER TAX REVENUE

    total $10,399,946 · related or exempt $10,399,946

  • 2c · Program service revenue: OTHER INCOME

    total $141,942 · related or exempt $141,942

  • 2d · Program service revenue: GOVERNMENT PAYMENT

    total $39,479 · related or exempt $39,479

  • 2e · Program service revenue: CAFETERIA REVENUE

    total $9,682 · related or exempt $9,682

  • 2f · All other program service revenue

    total $385 · related or exempt $385

  • 3 · Investment income

    total $640,522 · excluded $640,522

  • 7a · Gross sales of assets other than inventory

    other assets $6,000

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

    other assets $0

  • 7c · Gain or loss

    other assets $6,000

  • 7d · Net gain or loss

    total $6,000 · related or exempt $6,000

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,051,285 · program services $1,128,056 · management and general $923,229

  • 7 · Other salaries and wages

    total $42,219,440 · program services $40,907,997 · management and general $1,311,443

  • 9 · Other employee benefits

    total $7,982,860 · program services $7,970,583 · management and general $12,277

  • 10 · Payroll taxes

    total $3,138,188 · program services $2,971,814 · management and general $166,374

  • 11b · Fees: legal

    total $26,391 · management and general $26,391

  • 11c · Fees: accounting

    total $95,636 · management and general $95,636

  • 13 · Office expenses

    total $108,880 · management and general $108,880

  • 16 · Occupancy

    total $1,303,081 · program services $1,303,081

  • 17 · Travel

    total $66,890 · program services $63,437 · management and general $3,453

  • 19 · Conferences, conventions and meetings

    total $172,454 · program services $72,811 · management and general $99,643

  • 20 · Interest

    total $3,143 · management and general $3,143

  • 22 · Depreciation, depletion and amortization

    total $4,396,940 · program services $4,306,357 · management and general $90,583

  • 23 · Insurance

    total $1,051,006 · program services $1,051,006

  • 24a · Other expenses: DRUGS

    total $14,751,224 · program services $14,751,224

  • 24b · Other expenses: CORPORATE ALLOCATION

    total $13,842,742 · program services $13,842,742

  • 24c · Other expenses: MEDICAL SPECIALIST

    total $13,669,592 · program services $13,669,592

  • 24d · Other expenses: SUPPLIES

    total $13,239,900 · program services $13,051,676 · management and general $188,224

  • 24e · All other expenses

    total $36,003,367 · program services $34,323,261 · management and general $1,680,106

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year -$1

  • 2 · Savings and temporary cash investments

    beginning of year $46,906,301 · end of year $42,627,699

  • 4 · Accounts receivable

    beginning of year $21,413,702 · end of year $21,828,524

  • 7 · Other notes and loans receivable

    beginning of year $1,514,903 · end of year $1,762,214

  • 8 · Inventories for sale or use

    beginning of year $3,146,402 · end of year $2,866,065

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,453,504 · end of year $3,141,019

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

    $105,972,431

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

    $87,233,785

  • 10c · Land, buildings and equipment, net

    beginning of year $19,323,838 · end of year $18,738,646

  • 12 · Investments: other securities

    beginning of year $3,938,778 · end of year $4,184,816

  • 15 · Other assets

    beginning of year $7,018,295 · end of year $6,575,551

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,366,234 · end of year $23,771,260

  • 25 · Other liabilities

    beginning of year $7,543,025 · end of year $7,353,478

  • 27 · Net assets without donor restrictions

    beginning of year $74,112,259 · end of year $68,562,934

  • 28 · Net assets with donor restrictions

    beginning of year $2,694,205 · end of year $2,036,861

Mission and programs · 2023

Mission

SEE SCHEDULE 0

Activities or mission (Part I)

OUR MISSION IS TO IMPROVE THE HEALTH OF OUR COMMUNITIES, WORKING TOGETHER WITH THOSE WE SERVE.

  • FREEPORT MEMORIAL HOSPITAL PROVIDES INPATIENT AND OUTPATIENT HOSPITAL SERVICES TO PATIENTS IN FIVE NORTHWESTERN ILLINOIS COUNTIES. THE HOSPITAL ENSURES CONTINIUED ACCESS TO CARE BY SERVING PATIENTS IN MEDICALLY UNDERSERVED AREAS. THE HOSPITAL QUALIFIES AS A MEDICARE DISPROPORTIONATE SHARE HOSPITAL BECAUSE IT SERVES A DISPROPORTIONATELY HIGH NUMBER OF LOW-INCOME PATIENTS.

    Expenses $80,966,171 · Revenue $127,950,182

  • OTHER UNCOMPENSATED CARE: THE HOSPITAL IS A LICENSED MEDICARE AND MEDICAID PROVIDER WITH APPROXIMATELLY 72% OF ITS' PATIENT BASE QUALIFYING FOR AT LEAST ONE OF THESE PROGRAMS. AT PRESENT THE REIMBURSEMENT RATES OF THESE PROGRAMS DO NOT FULLY COVER THE COST OF CARE TO THESE PATIENTS. THE ESTIMATED UNFUNDED COST OF SERVICE FOR MEDICARE PATIENTS WAS APPROXIMATELY $11,790,315 AND MEDICAID PATIENTS WAS APPROXIMATELY $9,732,303 FOR THE YEAR ENDING 12/31/2023.

    Expenses $66,709,558 · Revenue $45,186,940

  • CHARITY CARE: THE HOSPITAL PROVIDED CHARITY CARE BENEFITS FOR PATIENTS WHOSE INCOME WAS UP TO 300% OF THE FEDERALLY DETERMINED PROVERTY LEVEL. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO APPROXIMATELY $1,737,908 IN 2023. ESTIMATED COSTS OF PROVIDING THESE SERVICES AMOUNTED TO APPROXIMATELY $373,027 IN 2023.

    Expenses $1,737,908 · Revenue $373,027

  • OTHER COMMUNITY BENEFITS: THE HOSPITAL OPERATES AND SUPPORTS A NUMBER OF COMMUNITY BENEFIT PROGRAMS THAT INCLUDE BUT ARE NOT LIMITED TO COMMUNITY HEALTH EDUCATION, HEALTH CARE SUPPORT SERVICES AND HEALTH PROFESSIONAL EDUCATION.

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

Listed in Part VII

  • NEAL RICHARDSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • HEATHER MCPHERSON

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • MARK WRIGHT

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • RICH CHANG

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • GARY QUINN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SHOKRY TAWFIK MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BRUCE BALDWIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • GLENDA KOELLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • DAN SCHMITT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • AMY BAKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARK S GRIDLEY

    PRESIDENT/CEO

    Total calculated
    $798,252
    From this org
    $455,110
    From related orgs
    $278,939
    Other
    $64,203
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $421,966 + $258,625 related
    Bonus
    $0
    Other
    $33,144 + $20,314 related
    Deferred
    $13,085 + $8,020 related
    Nontaxable benefits
    $26,721 + $16,377 related
    Filer's total
    $494,916 + $303,336 related

  • MICHAEL C CLARK

    EXECUTIVE VP/CFO

    Total calculated
    $412,285
    From this org
    $218,321
    From related orgs
    $133,810
    Other
    $60,154
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $160,708 + $98,499 related
    Bonus
    $0
    Other
    $57,613 + $35,311 related
    Deferred
    $13,950 + $8,550 related
    Nontaxable benefits
    $23,345 + $14,309 related
    Filer's total
    $255,616 + $156,669 related

  • LEONARD CARTER

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $278,555
    From this org
    $148,628
    From related orgs
    $91,089
    Other
    $38,838
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $129,796 + $79,546 related
    Bonus
    $0
    Other
    $18,832 + $11,543 related
    Deferred
    $0
    Nontaxable benefits
    $24,080 + $14,758 related
    Filer's total
    $172,708 + $105,847 related

  • BETH KALNINS MD

    MEDICAL STAFF

    Total calculated
    $300,371
    From this org
    $272,722
    From related orgs
    $0
    Other
    $27,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,228
    Bonus
    $3,750
    Other
    $4,744
    Deferred
    $0
    Nontaxable benefits
    $27,649
    Filer's total
    $300,371

  • REBECCA PEDERSEN MD

    CHIEF QUALITY OFFICER

    Total calculated
    $431,174
    From this org
    $0
    From related orgs
    $394,511
    Other
    $36,663
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $354,480 related
    Bonus
    $0 + $9,253 related
    Other
    $0 + $30,778 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $36,663 related
    Filer's total
    $0 + $431,174 related

  • ROBERT GELLER MD

    HEAD OF INFECTIOUS DISEASES

    Total calculated
    $252,404
    From this org
    $0
    From related orgs
    $224,442
    Other
    $27,962
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,684 related
    Bonus
    $0 + $20,515 related
    Other
    $0 + $33,243 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $27,962 related
    Filer's total
    $0 + $252,404 related

  • TIMOTHY JESSEN MD

    CHAIR PHYSICIAN COUNCIL

    Total calculated
    $336,449
    From this org
    $0
    From related orgs
    $297,480
    Other
    $38,969
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $232,688 related
    Bonus
    $0 + $29,477 related
    Other
    $0 + $35,315 related
    Deferred
    $0 + $20,769 related
    Nontaxable benefits
    $0 + $18,200 related
    Filer's total
    $0 + $336,449 related

  • CLARENCE PARKS MD

    PRESIDENT MEDICAL STAFF

    Total calculated
    $529,271
    From this org
    $509,041
    From related orgs
    $0
    Other
    $20,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $456,596
    Bonus
    $17,833
    Other
    $34,612
    Deferred
    $17,717
    Nontaxable benefits
    $2,513
    Filer's total
    $529,271

  • KATHRYN J MARTINEZ

    VP OF PATIENT SERVICE

    Total calculated
    $298,414
    From this org
    $263,293
    From related orgs
    $0
    Other
    $35,121
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $242,831
    Bonus
    $0
    Other
    $20,462
    Deferred
    $0
    Nontaxable benefits
    $35,121
    Filer's total
    $298,414

  • ARSHAD SHAIKH MD

    PHYSICIAN

    Total calculated
    $728,061
    From this org
    $696,233
    From related orgs
    $0
    Other
    $31,828
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $664,993
    Bonus
    $29,925
    Other
    $1,315
    Deferred
    $0
    Nontaxable benefits
    $31,828
    Filer's total
    $728,061

  • ZACHARY FULTON

    PHYSICIAN

    Total calculated
    $341,897
    From this org
    $284,529
    From related orgs
    $0
    Other
    $57,368
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,647
    Bonus
    $3,750
    Other
    $23,132
    Deferred
    $22,500
    Nontaxable benefits
    $34,868
    Filer's total
    $341,897

  • DANIEL LEE MD

    PHYSICIAN

    Total calculated
    $322,581
    From this org
    $278,250
    From related orgs
    $0
    Other
    $44,331
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $241,278
    Bonus
    $1,404
    Other
    $35,568
    Deferred
    $0
    Nontaxable benefits
    $44,331
    Filer's total
    $322,581

  • IRENA MARKOVIC MD

    PHYSICIAN

    Total calculated
    $374,040
    From this org
    $343,054
    From related orgs
    $0
    Other
    $30,986
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,066
    Bonus
    $3,750
    Other
    $21,238
    Deferred
    $0
    Nontaxable benefits
    $30,986
    Filer's total
    $374,040

  • KARENMARIE MEYER MD

    PHYSICIAN

    Total calculated
    $375,826
    From this org
    $360,890
    From related orgs
    $0
    Other
    $14,936
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $322,047
    Bonus
    $27,615
    Other
    $11,228
    Deferred
    $0
    Nontaxable benefits
    $14,936
    Filer's total
    $375,826

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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)

PART I, LINE 1A
FREEPORT MEMORIAL HOSPITAL REIMBURSED A DIRECTOR/TRUSTEE FOR BUSINESS TRAVEL EXPENSES INCLUDING TRAVEL EXPENSES FOR A SPOUSE.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
20 November 2024
IRS schema version
2023v5.1
Source object
202423259349301117

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