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Nonprofiteer
← MONUMENT HEALTH NETWORK INC

Form 990 for tax year 2023

Filed by MONUMENT HEALTH NETWORK INC.

Totals

Total revenue
$220,042,314
Total expenses
$205,549,800
Contributions and grants received
$1,030,788
Grants paid
$5,100
Program service revenue
$218,968,659
Investment income
$17,671
Other revenue
$25,196
Total assets, end of year
$160,854,015
Total liabilities, end of year
$69,300,423
Net assets or fund balances, end of year
$91,553,592
Program services expenses (Part IX)
$164,947,766
Management and general expenses
$40,602,034
Fundraising expenses
$0
Program service expenses (Part III)
$164,947,766

Program services were 80.2% 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.

  • 1e · Government grants (contributions)

    $986,964

  • 1f · All other contributions, gifts and grants

    $43,824

  • 2a · Program service revenue: Acute Care Hospital IP and OP

    total $152,352,093 · related or exempt $152,352,093

  • 2b · Program service revenue: Physician Clinics

    total $52,443,673 · related or exempt $52,443,673

  • 2c · Program service revenue: Long Term Care Facilities

    total $4,826,499 · related or exempt $4,826,499

  • 2f · All other program service revenue

    total $9,346,394 · related or exempt $9,167,433 · unrelated business $178,961

  • 3 · Investment income

    total $17,671 · excluded $17,671

  • 6a · Gross rents

    real property $34,548

  • 6b · Less rental expenses

    real property $9,352

  • 6c · Rental income or loss

    real property $25,196

  • 6d · Net rental income or loss

    total $25,196 · excluded $25,196

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,100 · program services $5,100

  • 5 · Compensation of officers, directors and key employees

    total $2,309,516 · program services $1,095,787 · management and general $1,213,729

  • 7 · Other salaries and wages

    total $90,193,784 · program services $82,728,390 · management and general $7,465,394

  • 8 · Pension plan contributions

    total $1,987,628 · program services $1,801,139 · management and general $186,489

  • 9 · Other employee benefits

    total $13,701,807 · program services $12,416,235 · management and general $1,285,572

  • 10 · Payroll taxes

    total $5,565,765 · program services $5,012,987 · management and general $552,778

  • 11b · Fees: legal

    total $96,813 · management and general $96,813

  • 11c · Fees: accounting

    total $69,850 · management and general $69,850

  • 11d · Fees: lobbying

    total $19,346 · management and general $19,346

  • 11g · Fees: other

    total $12,611,379 · program services $12,375,393 · management and general $235,986

  • 12 · Advertising and promotion

    total $115,139 · program services $2,799 · management and general $112,340

  • 13 · Office expenses

    total $5,681,980 · program services $5,044,411 · management and general $637,569

  • 14 · Information technology

    total $1,215,579 · program services $1,018,866 · management and general $196,713

  • 16 · Occupancy

    total $5,862,780 · program services $3,487,523 · management and general $2,375,257

  • 17 · Travel

    total $376,370 · program services $334,621 · management and general $41,749

  • 20 · Interest

    total $917,045 · program services $917,045

  • 22 · Depreciation, depletion and amortization

    total $3,457,532 · program services $3,023,411 · management and general $434,121

  • 23 · Insurance

    total $803,475 · program services $265,832 · management and general $537,643

  • 24a · Other expenses: Medical Supplies

    total $30,674,531 · program services $30,525,383 · management and general $149,148

  • 24b · Other expenses: Interco supplies/servic

    total $29,055,225 · program services $4,820,854 · management and general $24,234,371

  • 24c · Other expenses: Miscellaneous

    total $829,156 · program services $71,990 · management and general $757,166

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,924,404 · end of year $353,007

  • 4 · Accounts receivable

    beginning of year $24,650,265 · end of year $35,257,955

  • 8 · Inventories for sale or use

    beginning of year $3,220,393 · end of year $2,805,944

  • 9 · Prepaid expenses and deferred charges

    beginning of year $859,689 · end of year $942,882

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

    $150,770,373

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

    $85,740,954

  • 10c · Land, buildings and equipment, net

    beginning of year $63,622,032 · end of year $65,029,419

  • 12 · Investments: other securities

    beginning of year $1,497,372 · end of year $1,751,101

  • 13 · Investments: program-related

    beginning of year $28,698

  • 14 · Intangible assets

    beginning of year $54,656 · end of year $54,656

  • 15 · Other assets

    beginning of year $40,063,655 · end of year $54,659,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,109,740 · end of year $25,556,044

  • 25 · Other liabilities

    beginning of year $43,532,848 · end of year $43,744,379

  • 27 · Net assets without donor restrictions

    beginning of year $76,888,282 · end of year $91,138,086

  • 28 · Net assets with donor restrictions

    beginning of year $390,294 · end of year $415,506

Mission and programs · 2023

Mission

Our vision at Monument Health Network is to be one team, to listen, to be inclusive, and to show we care. Monument Health Network is dedicated to improving the health of individuals and our communities.

Activities or mission (Part I)

Improving the health of individuals and our communities.

  • Monument Health Network (MHN) owns the following acute care hospitals (including physician clinics) and senior care facilities: Monument Health Custer Hospital (CAH) / Monument Health Custer Senior Care, Monument Health Lead-Deadwood Hospital, Monument Health Spearfish Hospital and Monument Health Sturgis Hospital /Monument Health Care Center - Sturgis. MHN also owns, leases and operates provider based physician clinics in Belle Fourche, Spearfish, Lead-Deadwood, Hill City, Sturgis & Custer. In addition, MHN operates free standing clinics in Hot Springs and Buffalo. Together, these facilities provide common access to compassionate, quality, advanced health care through its numerous healing environments in the greater Black Hills region.

    Expenses $164,947,766 · Grants $5,100 · Revenue $218,789,698

As filed on the 2023 return.

Listed in Part VII

  • Paulette Davidson

    President and CEO

    Total calculated
    $1,980,795
    From this org
    $0
    From related orgs
    $1,727,313
    Other
    $253,482
    Hours/week
    9.06 + 50.94 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,158,268 related
    Bonus
    $0 + $369,600 related
    Other
    $0 + $199,445 related
    Deferred
    $0 + $224,622 related
    Nontaxable benefits
    $0 + $28,860 related
    Filer's total
    $0 + $1,980,795 related

  • Ray Jensen MD

    Physician - Orthopedic Surgery

    Total calculated
    $1,973,662
    From this org
    $1,828,915
    From related orgs
    $0
    Other
    $144,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,754,532
    Bonus
    $5,980
    Other
    $68,403
    Deferred
    $109,231
    Nontaxable benefits
    $35,517
    Filer's total
    $1,973,663

  • Andrew VanOsdol MD

    Physician - Surgery

    Total calculated
    $1,152,204
    From this org
    $1,041,404
    From related orgs
    $0
    Other
    $110,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,006,591
    Bonus
    $8,020
    Other
    $26,793
    Deferred
    $75,700
    Nontaxable benefits
    $35,100
    Filer's total
    $1,152,204

  • Christopher Milnes MD

    Physician - Radiologist

    Total calculated
    $1,083,535
    From this org
    $993,291
    From related orgs
    $0
    Other
    $90,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $973,291
    Bonus
    $20,000
    Other
    $0
    Deferred
    $62,949
    Nontaxable benefits
    $27,295
    Filer's total
    $1,083,535

  • Wesley Badger

    Physician -Surgery

    Total calculated
    $1,058,420
    From this org
    $977,339
    From related orgs
    $0
    Other
    $81,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $939,710
    Bonus
    $25,020
    Other
    $12,609
    Deferred
    $67,713
    Nontaxable benefits
    $13,368
    Filer's total
    $1,058,420

  • Garrett Cox

    Physician - Radiologist

    Total calculated
    $1,022,747
    From this org
    $913,713
    From related orgs
    $0
    Other
    $109,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $874,733
    Bonus
    $0
    Other
    $38,980
    Deferred
    $73,788
    Nontaxable benefits
    $35,246
    Filer's total
    $1,022,747

  • Brad Archer MD

    Chief Medical Officer

    Total calculated
    $1,001,419
    From this org
    $0
    From related orgs
    $876,666
    Other
    $124,753
    Hours/week
    8.3 + 46.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $643,589 related
    Bonus
    $0 + $148,000 related
    Other
    $0 + $85,077 related
    Deferred
    $0 + $98,862 related
    Nontaxable benefits
    $0 + $25,891 related
    Filer's total
    $0 + $1,001,419 related

  • Mark A Thompson

    CFO/CBDO From 01/2024

    Total calculated
    $918,564
    From this org
    $0
    From related orgs
    $868,581
    Other
    $49,983
    Hours/week
    8.3 + 46.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $593,215 related
    Bonus
    $0 + $116,600 related
    Other
    $0 + $158,766 related
    Deferred
    $0 + $25,504 related
    Nontaxable benefits
    $0 + $24,478 related
    Filer's total
    $0 + $918,563 related

  • Thomas Worsley

    Pres Spearfish Hosp/Hills Markets

    Total calculated
    $659,435
    From this org
    $568,278
    From related orgs
    $0
    Other
    $91,157
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $427,446
    Bonus
    $100,100
    Other
    $40,732
    Deferred
    $58,062
    Nontaxable benefits
    $33,096
    Filer's total
    $659,436

  • Patrick Woodard

    Chief Healthcare Infor. Officer

    Total calculated
    $631,900
    From this org
    $0
    From related orgs
    $565,975
    Other
    $65,925
    Hours/week
    8.3 + 46.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $426,049 related
    Bonus
    $0 + $65,528 related
    Other
    $0 + $74,398 related
    Deferred
    $0 + $57,376 related
    Nontaxable benefits
    $0 + $8,549 related
    Filer's total
    $0 + $631,900 related

  • Heather Brewer MD

    Board member/Employed Physician

    Total calculated
    $619,896
    From this org
    $533,301
    From related orgs
    $0
    Other
    $86,595
    Hours/week
    40.87

    Schedule J breakdown matched by us

    Base
    $480,888
    Bonus
    $10,000
    Other
    $42,413
    Deferred
    $53,913
    Nontaxable benefits
    $32,682
    Filer's total
    $619,896

  • Mark Schulte

    VP Rapid city market

    Total calculated
    $425,620
    From this org
    $0
    From related orgs
    $364,167
    Other
    $61,453
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,862 related
    Bonus
    $0 + $54,200 related
    Other
    $0 + $26,105 related
    Deferred
    $0 + $27,611 related
    Nontaxable benefits
    $0 + $33,842 related
    Filer's total
    $0 + $425,620 related

  • Jason Knudson

    Board Member/Employed Physician

    Total calculated
    $423,949
    From this org
    $352,432
    From related orgs
    $0
    Other
    $71,517
    Hours/week
    40.58

    Schedule J breakdown matched by us

    Base
    $327,849
    Bonus
    $8,500
    Other
    $16,083
    Deferred
    $39,095
    Nontaxable benefits
    $32,422
    Filer's total
    $423,949

  • Mark Schmidt

    Pres Sturgis, Lead-Deadwood Market

    Total calculated
    $404,160
    From this org
    $352,841
    From related orgs
    $0
    Other
    $51,319
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $274,831
    Bonus
    $51,200
    Other
    $26,810
    Deferred
    $26,851
    Nontaxable benefits
    $24,468
    Filer's total
    $404,160

  • Austin Willuweit

    VP Finance/CFO from 01/2024

    Total calculated
    $400,279
    From this org
    $0
    From related orgs
    $340,040
    Other
    $60,239
    Hours/week
    8.3 + 46.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,550 related
    Bonus
    $0 + $50,700 related
    Other
    $0 + $24,790 related
    Deferred
    $0 + $27,071 related
    Nontaxable benefits
    $0 + $33,168 related
    Filer's total
    $0 + $400,279 related

  • Barbara Hespen

    Pres Custer Market/System CNO

    Total calculated
    $328,806
    From this org
    $276,143
    From related orgs
    $0
    Other
    $52,663
    Hours/week
    46.59 + 8.41 related

    Schedule J breakdown matched by us

    Base
    $222,768
    Bonus
    $37,700
    Other
    $15,675
    Deferred
    $23,781
    Nontaxable benefits
    $28,881
    Filer's total
    $328,805

  • Charles Lewis DO

    Board Member/Employed Physician

    Total calculated
    $275,215
    From this org
    $255,264
    From related orgs
    $0
    Other
    $19,951
    Hours/week
    40.29

    Schedule J breakdown matched by us

    Base
    $255,264
    Bonus
    $0
    Other
    $0
    Deferred
    $8,596
    Nontaxable benefits
    $11,355
    Filer's total
    $275,215

  • Nicole Kerkenbush

    Former-CNPO/Performance Officer

    Total calculated
    $221,492
    From this org
    $0
    From related orgs
    $203,850
    Other
    $17,642
    Hours/week
    8.3 + 46.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,529 related
    Bonus
    $0
    Other
    $0 + $34,321 related
    Deferred
    $0 + $15,612 related
    Nontaxable benefits
    $0 + $2,030 related
    Filer's total
    $0 + $221,492 related

  • Kathryn Johnson

    Board member-Chair

    Total calculated
    $0
    Hours/week
    1.19

  • Steven Williams

    Board Member Until 12/2023

    Total calculated
    $0
    Hours/week
    0.29

  • Dan Liekvold

    Board member

    Total calculated
    $0
    Hours/week
    0.29

  • Kenneth Meirose

    Board Member

    Total calculated
    $0
    Hours/week
    0.83

  • Fred Lamphere

    Board member

    Total calculated
    $0
    Hours/week
    0.29

  • John Williams

    Board member From 12/2023

    Total calculated
    $0
    Hours/week
    0.38

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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
The Executive Committee, which is a committee of the Monument Health (parent) Board, reviews and approves base salary and total compensation ranges for all executives within the Monument Health System.
Part I, Line 4b
Monument Health provides a supplemental nonqualified retirement plan and a flexible benefit plan that can include deferred compensation for its executives. The following individuals had amounts deferred into the account as reported in Schedule J, column C: Paulette Davidson $209,620 Brad Archer MD $84,592 Austin Willuweit $13,920 Nicole Kerkenbush $6,342 Mark Schulte $14,888 Thomas Worsley $43,532 Mark Schmidt $14,068 Heather Brewer $35,924 Jason Knudson $20,975 Ray Jensen $94,596 Andrew Vanosdol $61,065 Christopher Milnes $49,749 Wesley Badger $53,804 Garrett Cox $59,153 Barbara Hespen $15,471 The following individuals had supplemental non-qualified retirement plan amounts included in schedule J, column B(iii) that were previously reported as deferred compensation on Form 990. These amounts are identified in Schedule J, column F. Paulette Davidson $176,555 Ray Jensen MD $68,403 Brad Archer MD $71,687 Mark Thompson $150,096 Austin Willuweit $10,653 Heather Brewer MD $42,413 Andrew VanOsdol MD $26,793 Nicole Kerkenbush $27,979 Jason Knudson MD $16,083 Thomas Worsley $17,889 Mark Schmidt $12,519 Wesley Badger MD $12,609 Garrett Cox MD $38,980 Mark Schulte $10,981
Part I, Line 7
Executives and other employees of system entities will be eligible to receive annual incentive awards that are competitive with the incentives offered by the organizations in the system's peer group(s) in accordance with the terms of the Monument Health, Inc. annual incentive plan for selected executives and other employees (incentive plan). In accordance with this plan, the parent board's executive committee reviews and approves all incentive compensation performance measures and all awards, if any. The committee ensures that the total compensation, including incentive awards, is reasonable.

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

  • Spearfish High School

    $5,100

    Sponsorship

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 partnerships

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

  • Medical & Dental Building

    Medical Office Bldg · SD

  • Same Day Surgery Center

    Medical services · SD

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202541359349302324

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