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Nonprofiteer
← RIDGEVIEW MEDICAL CENTER

Form 990 for tax year 2024

Filed by RIDGEVIEW MEDICAL CENTER.

Totals

Total revenue
$407,074,551
Total expenses
$403,331,858
Contributions and grants received
$2,594,485
Grants paid
$54,107
Program service revenue
$367,926,397
Investment income
$10,243,680
Other revenue
$26,309,989
Total assets, end of year
$402,094,568
Total liabilities, end of year
$239,155,056
Net assets or fund balances, end of year
$162,939,512
Program services expenses (Part IX)
$297,683,799
Management and general expenses
$105,648,059
Fundraising expenses
$0
Program service expenses (Part III)
$297,683,799

Program services were 73.8% 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.

  • 1d · Related organizations

    $2,447,543

  • 1e · Government grants (contributions)

    $146,942

  • 2a · Program service revenue: NET PATIENT REVENUE

    total $367,926,397 · related or exempt $367,926,397

  • 3 · Investment income

    total $2,488,952 · excluded $2,488,952

  • 6a · Gross rents

    real property $7,647,625

  • 6b · Less rental expenses

    real property $279,037

  • 6c · Rental income or loss

    real property $7,368,588

  • 6d · Net rental income or loss

    total $7,368,588 · excluded $7,368,588

  • 7a · Gross sales of assets other than inventory

    securities $8,255,897

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

    securities $0 · other assets $501,169

  • 7c · Gain or loss

    securities $8,255,897 · other assets -$501,169

  • 7d · Net gain or loss

    total $7,754,728 · excluded $7,754,728

  • 10a · Gross sales of inventory

    $7,123,958

  • 10b · Cost of goods sold

    $1,662,286

  • 10c · Net income from sales of inventory

    total $5,461,672 · excluded $5,461,672

  • 11a · Other revenue: MISCELLANEOUS

    total $12,213,655 · unrelated business $992,366 · excluded $11,221,289

  • 11b · Other revenue: CAFETERIA REVENUE

    total $1,197,060 · excluded $1,197,060

  • 11c · Other revenue: PHARMACY SERVICES

    total $69,014 · excluded $69,014

  • 11e · Other revenue, total

    $13,479,729

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $54,107 · program services $54,107

  • 5 · Compensation of officers, directors and key employees

    total $5,311,092 · management and general $5,311,092

  • 7 · Other salaries and wages

    total $180,027,143 · program services $135,218,178 · management and general $44,808,965

  • 8 · Pension plan contributions

    total $4,799,487 · program services $3,693,003 · management and general $1,106,484

  • 9 · Other employee benefits

    total $12,342,077 · program services $9,288,332 · management and general $3,053,745

  • 10 · Payroll taxes

    total $11,794,689 · program services $8,632,798 · management and general $3,161,891

  • 11b · Fees: legal

    total $410,080 · management and general $410,080

  • 11c · Fees: accounting

    total $241,743 · management and general $241,743

  • 11f · Fees: investment management

    total $341,103 · management and general $341,103

  • 11g · Fees: other

    total $67,668,694 · program services $42,633,925 · management and general $25,034,769

  • 12 · Advertising and promotion

    total $371,707 · program services $234,190 · management and general $137,517

  • 13 · Office expenses

    total $8,114,773 · program services $5,112,625 · management and general $3,002,148

  • 14 · Information technology

    total $3,239,135 · program services $2,040,782 · management and general $1,198,353

  • 16 · Occupancy

    total $14,527,080 · program services $9,152,629 · management and general $5,374,451

  • 17 · Travel

    total $544,082 · program services $342,793 · management and general $201,289

  • 19 · Conferences, conventions and meetings

    total $281,904 · program services $177,611 · management and general $104,293

  • 20 · Interest

    total $6,892,711 · management and general $6,892,711

  • 22 · Depreciation, depletion and amortization

    total $17,929,965 · program services $17,929,965

  • 23 · Insurance

    total $1,239,583 · program services $487,744 · management and general $751,839

  • 24a · Other expenses: UBI TAXES

    total $62,663 · management and general $62,663

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $54,328,846 · program services $53,049,905 · management and general $1,278,941

  • 24c · Other expenses: MINNESOTA CARE TAX

    total $4,295,136 · program services $2,706,104 · management and general $1,589,032

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $4,123,239 · program services $4,123,239

  • 24e · All other expenses

    total $4,390,819 · program services $2,805,869 · management and general $1,584,950

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,228,240 · end of year $959,355

  • 2 · Savings and temporary cash investments

    beginning of year $70,463,167 · end of year $76,068,891

  • 4 · Accounts receivable

    beginning of year $47,365,654 · end of year $45,734,178

  • 8 · Inventories for sale or use

    beginning of year $5,494,006 · end of year $5,594,684

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,428,271 · end of year $4,504,474

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

    $402,317,620

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

    $244,592,776

  • 10c · Land, buildings and equipment, net

    beginning of year $166,102,937 · end of year $157,724,844

  • 12 · Investments: other securities

    beginning of year $24,830,415 · end of year $27,116,119

  • 13 · Investments: program-related

    beginning of year $13,229,686 · end of year $13,064,275

  • 15 · Other assets

    beginning of year $74,380,179 · end of year $71,327,748

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,889,756 · end of year $49,590,809

  • 19 · Deferred revenue

    beginning of year $1,766,542 · end of year $241,000

  • 23 · Secured mortgages and notes payable

    beginning of year $131,482,770 · end of year $120,595,291

  • 25 · Other liabilities

    beginning of year $71,327,568 · end of year $68,727,956

  • 27 · Net assets without donor restrictions

    beginning of year $149,658,086 · end of year $153,152,493

  • 28 · Net assets with donor restrictions

    beginning of year $8,397,833 · end of year $9,787,019

Mission and programs · 2024

Mission

RIDGEVIEW MEDICAL CENTER EXISTS TO ENHANCE THE LIFELONG HEALTH OF PEOPLE IT SERVES WITH A CULTURE THAT NURTURES THE WHOLE PERSON: MIND, BODY, AND SPIRIT.

Activities or mission (Part I)

RIDGEVIEW MEDICAL CENTER EXISTS TO ENHANCE THE LIFELONG HEALTH OF THE PEOPLE WE SERVE WITH A CULTURE THAT NURTURES THE WHOLE PERSONMIND, BODY AND SPIRIT.

  • RIDGEVIEW MEDICAL CENTER ENHANCED AND PROVIDED QUALITY HEALTHCARE SERVICES FOR THE COMMUNITY OF WACONIA AND SURROUNDING AREAS. THE HOSPITAL PROVIDED CHARITY CARE AND OTHER UNCOMPENSATED CARE IN THE AMOUNT OF $876,975 DURING 2024. THE UNPAID COST FOR SERVICES PROVIDED TO MEDICAID AND MEDICARE PATIENTS WAS $12,679,529 AND $45,968,162 IN 2024. IN 2024 THE HOSPITAL SPENT $11,942,761 ON UNCOMPENSATED COMMUNITY SERVICES INCLUDING TAXES AND FEES. THE HOSPITAL HAD 27,418 INPATIENT HOSPITAL STAYS, 48,025 EMERGENCY CARE VISITS, 46,168 URGENT CARE VISITS, 54,291 HOME HEALTH VISITS, 16,067 SURGERY CASES, 1,457 BIRTHS, 17,097 AMBULANCE CALLS, 176,584 PRIMARY AND SPECIALTY CLINIC VISITS, AND 720,968 LAB TESTS IN 2024 RIDGEVIEW MEDICAL CENTER SERVES MORE THAN 310,000 PEOPLE, WHILE OPERATING ONE HOSPITAL, ONE FREE-STANDING EMERGENCY AND URGENT CARE FACILITY, AND SEVEN MULTI-SPECIALTY CLINIC LOCATIONS.

    Expenses $297,683,799 · Grants $54,107 · Revenue $367,926,397

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

Listed in Part VII

  • Theresa Dalen

    BOARD CHAIR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brian Mark

    BOARD VICE CHAIR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Van Colson

    TREASURER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dave Kirsch

    SECRETARY

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Julie Osterberg

    BOARD MEMBER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeff Nelson

    BOARD MEMBER

    Total calculated
    $7,400
    From this org
    $5,000
    From related orgs
    $2,400
    Other
    $0
    Hours/week
    2 + 0.8 related

  • Stuart Groninga

    BOARD MEMBER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Heather Reighard

    BOARD MEMBER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kate Roehl

    BOARD MEMBER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mike Schuler

    BOARD MEMBER

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Phelps

    PRESIDENT/CEO

    Total calculated
    $1,224,841
    From this org
    $1,131,592
    From related orgs
    $0
    Other
    $93,249
    Hours/week
    41 + 9 related

    Schedule J breakdown matched by us

    Base
    $1,129,312
    Bonus
    $0
    Other
    $2,280
    Deferred
    $32,084
    Nontaxable benefits
    $61,165
    Filer's total
    $1,224,841

  • Aaron Bloomquist

    CFO

    Total calculated
    $895,572
    From this org
    $823,518
    From related orgs
    $0
    Other
    $72,054
    Hours/week
    30.5 + 19.5 related

    Schedule J breakdown matched by us

    Base
    $821,811
    Bonus
    $0
    Other
    $1,707
    Deferred
    $18,291
    Nontaxable benefits
    $53,763
    Filer's total
    $895,572

  • Stacey Lee

    VICE PRESIDENT

    Total calculated
    $509,236
    From this org
    $446,993
    From related orgs
    $0
    Other
    $62,243
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $446,169
    Bonus
    $0
    Other
    $824
    Deferred
    $24,994
    Nontaxable benefits
    $37,249
    Filer's total
    $509,236

  • Benjamin Nielsen

    COO

    Total calculated
    $379,128
    From this org
    $359,651
    From related orgs
    $0
    Other
    $19,477
    Hours/week
    44 + 6 related

    Schedule J breakdown matched by us

    Base
    $359,036
    Bonus
    $0
    Other
    $615
    Deferred
    $18,650
    Nontaxable benefits
    $827
    Filer's total
    $379,128

  • Lisa Schwartz

    CHRO

    Total calculated
    $381,953
    From this org
    $333,874
    From related orgs
    $0
    Other
    $48,079
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $332,947
    Bonus
    $0
    Other
    $927
    Deferred
    $16,579
    Nontaxable benefits
    $31,500
    Filer's total
    $381,953

  • Elaine Arion

    VICE PRESIDENT & CNO

    Total calculated
    $397,826
    From this org
    $327,910
    From related orgs
    $0
    Other
    $69,916
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $322,927
    Bonus
    $0
    Other
    $4,983
    Deferred
    $28,631
    Nontaxable benefits
    $41,285
    Filer's total
    $397,826

  • Andrew Kester

    CIO

    Total calculated
    $368,043
    From this org
    $296,015
    From related orgs
    $0
    Other
    $72,028
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $295,088
    Bonus
    $0
    Other
    $927
    Deferred
    $28,717
    Nontaxable benefits
    $43,311
    Filer's total
    $368,043

  • Dr Matt Herold

    VP OF MEDICAL AFFAIRS

    Total calculated
    $318,465
    From this org
    $290,196
    From related orgs
    $0
    Other
    $28,269
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $289,581
    Bonus
    $0
    Other
    $615
    Deferred
    $11,674
    Nontaxable benefits
    $16,595
    Filer's total
    $318,465

  • Sarah Urtel

    VP OF SYSTEM SUPPORT

    Total calculated
    $353,377
    From this org
    $288,533
    From related orgs
    $0
    Other
    $64,844
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $288,113
    Bonus
    $0
    Other
    $420
    Deferred
    $32,129
    Nontaxable benefits
    $32,715
    Filer's total
    $353,377

  • Paul Ham

    VP OF SUPPORT SERVICES

    Total calculated
    $336,787
    From this org
    $281,413
    From related orgs
    $0
    Other
    $55,374
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $280,486
    Bonus
    $0
    Other
    $927
    Deferred
    $31,708
    Nontaxable benefits
    $23,666
    Filer's total
    $336,787

  • Gordon Gablenz

    CIO (LEFT JAN 2024)

    Total calculated
    $94,865
    From this org
    $86,018
    From related orgs
    $0
    Other
    $8,847
    Hours/week
    30.5 + 19.5 related

  • Christopher Steffen

    EXECUTIVE DIRECTOR

    Total calculated
    $369,655
    From this org
    $326,334
    From related orgs
    $0
    Other
    $43,321
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $325,624
    Bonus
    $0
    Other
    $710
    Deferred
    $26,367
    Nontaxable benefits
    $16,954
    Filer's total
    $369,655

  • Gregory Erickson

    CRNA

    Total calculated
    $356,674
    From this org
    $301,298
    From related orgs
    $0
    Other
    $55,376
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $298,944
    Bonus
    $0
    Other
    $2,354
    Deferred
    $21,869
    Nontaxable benefits
    $33,507
    Filer's total
    $356,674

  • Jennifer Charbonnet

    CRNA

    Total calculated
    $323,735
    From this org
    $279,872
    From related orgs
    $0
    Other
    $43,863
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $278,204
    Bonus
    $0
    Other
    $1,668
    Deferred
    $12,363
    Nontaxable benefits
    $31,500
    Filer's total
    $323,735

  • Tyler Johnson

    ADVANCED PRACTICE PROVIDER

    Total calculated
    $359,890
    From this org
    $293,050
    From related orgs
    $0
    Other
    $66,840
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $220,253
    Bonus
    $72,488
    Other
    $309
    Deferred
    $12,790
    Nontaxable benefits
    $54,050
    Filer's total
    $359,890

  • Terry Larimer

    ADVANCED PRACTICE PROVIDER

    Total calculated
    $341,085
    From this org
    $293,265
    From related orgs
    $0
    Other
    $47,820
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,530
    Bonus
    $78,928
    Other
    $807
    Deferred
    $22,749
    Nontaxable benefits
    $25,071
    Filer's total
    $341,085

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
MICHAEL PHELPS PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. DURING 2024, $182,294 WAS CONTRIBUTED TO THE PLAN, $78,297 WAS ACCRUED WITHIN THE PLAN, AND $0 WAS PAID OUT OF THE PLAN. AARON BLOOMQUIST PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. DURING 2024, $428,739 WAS CONTRIBUTED TO THE PLAN, $11,876 ACCRUED WITHIN THE PLAN, AND $0 WAS PAID OUT OF THE PLAN. THESE DEFERRED COMPENSATION AMOUNTS ARE REPORTED ON A PRO-RATA BASIS WITHOUT REGARD TO THE INDIVIDUAL'S VESTING SCHEDULE. CURRENTLY, THE MAJORITY OF DEFERRED COMPENSATION IS NOT VESTED.
PART I, LINE 6
THE OFFICERS OF RIDGEVIEW MEDICAL CENTER AND AFFILIATES RECEIVE BONUSES CONTINGENT ON THE NET EARNINGS OF THE CONSOLIDATED ENTITY AND GOALS ACHIEVED. BONUSES WERE EARNED IN 2024 AND PAID IN 2025.

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

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.

  • RIDGEVIEW FOUNDATION

    501(C)(3) · RAISING FUNDS FOR RIDGEVIEW MEDICAL CENTER · MN · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW CLINICS

    501(C)(3) · HEALTH CARE SERVICES · MN · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW INSURANCE CO

    501(C)(3) · CAPTIVE INSURANCE COMPANY · UT · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • SIBLEY MEDICAL CENTER

    501(C)(3) · CRITICAL ACCESS HOSPITAL · MN · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • MINNESOTA VALLEY HEALTH CENTER

    501(C)(3) · CRITICAL ACCESS HOSPITAL · MN · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

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.

  • RIDGEVIEW REAL ESTATE LLC

    REAL ESTATE · MN · income $49,992 · assets $134,620

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW REAL ESTATE II LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW COMMUNITY NETWORK LLC

    ACCOUNTABLE CARE ORGANIZATION · MN · income $345,158 · assets $460,418

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW TWO TWELVE NORTH ADDITION LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW BELLE PLAINE REAL ESTATE LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW SIBLEY REAL ESTATE LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW 240 WEST LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW WINSTED REAL ESTATE LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW 200 HIGHWAY 5 WEST LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW 511 SOUTH MAPLE STREET LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW 801 HIGHWAY 284 LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • RIDGEVIEW 501 SOUTH MAPLE STREET LLC

    REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by RIDGEVIEW MEDICAL CENTER

Related partnerships

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

  • MINNEAPOLIS HEART INSTITITUE AT RIDGEVIEW HEART CENTER LLC

    RELATED · CARDIOLOGY SERVICES · MN · 50% owned · share of income -$205,806 · share of assets $11,135,449 · general or managing partner

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • CHASKA PLAZA SURGERY CENTER

    RELATED · SURGERY SERVICES · MN · 51% owned · share of income $3,743,336 · share of assets $3,525,706 · general or managing partner

    Directly controlled by RIDGEVIEW MEDICAL CENTER

Related corporations and trusts

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

  • EXECUTIVE HEALTH MANAGEMENT SERVICES

    C · MANAGEMENT SERVICES · MN · 100% owned · controlled entity

    Directly controlled by RIDGEVIEW MEDICAL CENTER

  • CHARITABLE REMAINDER UNITRUST (1)

    CHARITABLE TRUST · MN

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202513109349300436

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