Skip to content
Nonprofiteer
← MILWAUKEE REGIONAL MEDICAL CENTER INC

Form 990 for tax year 2024

Filed by MILWAUKEE REGIONAL MEDICAL CENTER INC.

Totals

Total revenue
$7,112,872
Total expenses
$4,088,473
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,396,786
Investment income
$711,964
Other revenue
$4,122
Total assets, end of year
$70,755,876
Total liabilities, end of year
$62,506,857
Net assets or fund balances, end of year
$8,249,019
Program services expenses (Part IX)
$2,462,018
Management and general expenses
$1,626,455
Fundraising expenses
$0
Program service expenses (Part III)
$2,462,018

Program services were 60.2% 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: CHARGES FOR SERVICES

    total $4,597,202 · related or exempt $4,597,202

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $1,799,584 · related or exempt $1,799,584

  • 3 · Investment income

    total $711,964 · excluded $711,964

  • 11a · Other revenue: OTHER REVENUE

    total $4,122 · excluded $4,122

  • 11e · Other revenue, total

    $4,122

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $269,264 · management and general $269,264

  • 7 · Other salaries and wages

    total $549,010 · management and general $549,010

  • 9 · Other employee benefits

    total $46,303 · management and general $46,303

  • 10 · Payroll taxes

    total $12,576 · management and general $12,576

  • 11g · Fees: other

    total $913,924 · program services $498,451 · management and general $415,473

  • 16 · Occupancy

    total $53,358 · program services -$79,069 · management and general $132,427

  • 17 · Travel

    total $24,341 · program services $17 · management and general $24,324

  • 20 · Interest

    total $1,043,149 · program services $1,043,149

  • 22 · Depreciation, depletion and amortization

    total $638,956 · program services $611,905 · management and general $27,051

  • 23 · Insurance

    total $233,797 · program services $207,833 · management and general $25,964

  • 24a · Other expenses: OTHER

    total $181,409 · program services $168,320 · management and general $13,089

  • 24b · Other expenses: SUPPLIES & MAINTENANCE

    total $122,386 · program services $11,412 · management and general $110,974

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,718,787 · end of year $3,298,333

  • 2 · Savings and temporary cash investments

    beginning of year $10,648,471 · end of year $22,711

  • 4 · Accounts receivable

    beginning of year $4,806,749 · end of year $2,930,348

  • 9 · Prepaid expenses and deferred charges

    beginning of year $363,818 · end of year $176,126

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

    $52,587,812

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

    $2,092,089

  • 10c · Land, buildings and equipment, net

    beginning of year $38,996,543 · end of year $50,495,723

  • 15 · Other assets

    beginning of year $31,786,742 · end of year $13,832,635

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,113,928 · end of year $1,854,215

  • 19 · Deferred revenue

    beginning of year $0 · end of year $432,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $47,262,603 · end of year $47,262,816

  • 23 · Secured mortgages and notes payable

    beginning of year $19,350 · end of year $0

  • 25 · Other liabilities

    beginning of year $33,415,644 · end of year $12,957,826

  • 27 · Net assets without donor restrictions

    beginning of year $3,447,875 · end of year $8,249,019

  • 28 · Net assets with donor restrictions

    beginning of year $61,710 · end of year $0

Mission and programs · 2024

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 $2,462,018 · Revenue $4,597,202

  • 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 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 $1,799,584

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark Geronime

    VP OF OPERATIONS

    Total calculated
    $307,226
    From this org
    $255,775
    From related orgs
    $0
    Other
    $51,451
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,534
    Bonus
    $33,241
    Other
    $0
    Deferred
    $25,577
    Nontaxable benefits
    $25,874
    Filer's total
    $307,226

  • Sheri Schmit

    VP OF TRANSPORTATION SERVICES

    Total calculated
    $254,335
    From this org
    $207,692
    From related orgs
    $0
    Other
    $46,643
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,712
    Bonus
    $31,980
    Other
    $0
    Deferred
    $20,769
    Nontaxable benefits
    $25,874
    Filer's total
    $254,335

  • Leif Erickson

    EXECUTIVE DIRECTOR FLIGHT FOR LIFE

    Total calculated
    $265,071
    From this org
    $217,452
    From related orgs
    $0
    Other
    $47,619
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $190,425
    Bonus
    $27,027
    Other
    $0
    Deferred
    $21,745
    Nontaxable benefits
    $25,874
    Filer's total
    $265,071

  • Rachel Stauffer

    VP OF FINANCE

    Total calculated
    $269,264
    From this org
    $230,127
    From related orgs
    $0
    Other
    $39,137
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $211,377
    Bonus
    $18,750
    Other
    $0
    Deferred
    $23,012
    Nontaxable benefits
    $16,125
    Filer's total
    $269,264

  • Craig Miller

    CIO

    Total calculated
    $162,946
    From this org
    $159,413
    From related orgs
    $0
    Other
    $3,533
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $159,413
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,533
    Filer's total
    $162,946

  • Tiffany L Mundt

    CLINICAL STAFF EDUCATION COORDINATOR

    Total calculated
    $190,159
    From this org
    $149,350
    From related orgs
    $0
    Other
    $40,809
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,350
    Bonus
    $0
    Other
    $0
    Deferred
    $14,935
    Nontaxable benefits
    $25,874
    Filer's total
    $190,159

  • Robert Simi

    EXECUTIVE DIRECTOR MRMC

    Total calculated
    $0
    Hours/week
    35 + 5 related

  • Marc Cadieux

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Dr John Raymond

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Matthew Lester

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Scott Hawig

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • John Ernst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Turner

    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. 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: $322,034 NON-TAXABLE BENEFITS: $69,600

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 & REPLACE TRANSPORT. & UTILITY INFRA. ON THE MRMC CAMPUS. · WI · income $4,930,442 · assets $54,893,077

    Directly controlled by MILWAUKEE REGIONAL MEDICAL CENTER INC

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202503169349304020

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.