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Nonprofiteer
← MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE INC

Form 990 for tax year 2023

Filed by MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE INC.

Totals

Total revenue
$32,289,863
Total expenses
$33,882,498
Contributions and grants received
$119,601
Grants paid
$0
Program service revenue
$32,024,503
Investment income
$145,759
Other revenue
$0
Total assets, end of year
$230,201,131
Total liabilities, end of year
$231,568,899
Net assets or fund balances, end of year
-$1,367,768
Program services expenses (Part IX)
$14,843,826
Management and general expenses
$19,038,672
Fundraising expenses
$0
Program service expenses (Part III)
$14,843,826

Program services were 43.8% 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

    $119,601

  • 1g · Noncash contributions included above

    $119,601

  • 2a · Program service revenue: SERVICE REVENUE

    total $32,024,503 · related or exempt $32,024,503

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $145,759 · excluded $145,759

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 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.

  • 11b · Fees: legal

    total $349,414 · management and general $349,414

  • 11c · Fees: accounting

    total $35,192 · management and general $35,192

  • 11g · Fees: other

    total $725,499 · program services $0 · management and general $725,499 · fundraising $0

  • 13 · Office expenses

    total $233,087 · management and general $233,087

  • 16 · Occupancy

    total $172,876 · management and general $172,876

  • 17 · Travel

    total $14,358 · program services $14,358

  • 20 · Interest

    total $9,352,707 · management and general $9,352,707

  • 22 · Depreciation, depletion and amortization

    total $7,942,914 · management and general $7,942,914

  • 23 · Insurance

    total $966,031 · program services $966,031

  • 24a · Other expenses: OPERATIONAL EXPENSE

    total $9,077,392 · program services $9,077,392

  • 24b · Other expenses: OPERATING MANAGEMENT

    total $4,786,045 · program services $4,786,045

  • 24c · Other expenses: Miscellaneous

    total $226,983 · management and general $226,983

  • 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 $16,962,395 · end of year $7,636,845

  • 4 · Accounts receivable

    beginning of year $3,556,331 · end of year $7,036,916

  • 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

  • 8 · Inventories for sale or use

    beginning of year $737,446 · end of year $723,274

  • 9 · Prepaid expenses and deferred charges

    beginning of year $518,811 · end of year $319,258

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

    $260,738,211

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

    $46,253,373

  • 10c · Land, buildings and equipment, net

    beginning of year $214,406,490 · end of year $214,484,838

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,765,930 · end of year $7,576,459

  • 20 · Tax-exempt bond liabilities

    beginning of year $228,585,502 · end of year $223,387,266

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $518,157 · end of year $605,174

  • 27 · Net assets without donor restrictions

    beginning of year $311,884 · end of year -$1,367,768

Mission and programs · 2023

Mission

Milwaukee Regional Medical Center Thermal Service, Inc. purpose is to provide steam and chilled water to the members of MRMC.

Activities or mission (Part I)

Purpose is to provide steam and chilled water to the members of MRMC.

  • Milwaukee Regional Medical Center Thermal Service, Inc. purpose is to provide steam and chilled water to the members of MRMC. In April 2016, MRMC Thermal began providing heating and cooling services to Members.

    Expenses $14,843,826 · Revenue $32,024,503

As filed on the 2023 return.

Listed in Part VII

  • Jeff Bornemann

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Matt Wade

    vice chair

    Total calculated
    $0
    Hours/week
    1

  • Matthew Lester

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Robert Simi

    President

    Total calculated
    $0
    Hours/week
    5 + 35 related

  • Scott Hawig

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Marc Cadieux

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ryan Marks

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rachel Stauffer

    VP OF FINANCE

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

  • Robert W Mlynarek

    VP of Finance (term. 05/2023)

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

    Schedule J breakdown matched by us

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

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

None.

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 UNRELATED ORGANIZATION: FROEDTERT MEMORIAL LUTHERAN HOSPITAL, EIN XXX-XX-XXXX. EMPLOYEE LEASING ARRANGEMENT WITH MILWAUKEE REGIONAL MEDICAL CENTER, INC. (RELATED PARTY) EMPLOYEE: ROBERT SIMI BASE COMPENSATION: $260,116 BONUS: $52,508
Schedule J, Part I, Line 3
COMPENSATION FOR OFFICERS IS NOT PAID BY THE ORGANIZATION BUT BY THE RELATED ORGANIZATION MILWAUKEE REGIONAL MEDICAL CENTER (MRMC). MRMC DETERMINES THE COMPENSATION OF THE OFFICERS USING THE FOLLOWING: 1. WRITTEN EMPLOYMENT CONTRACTS 2. COMPENSATION SURVEY OR STUDY 3. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433199349317943

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