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← MERITER FOUNDATION INC

Form 990 for tax year 2024

Filed by MERITER FOUNDATION INC.

Totals

Total revenue
$6,564,063
Total expenses
$2,138,701
Contributions and grants received
$3,617,423
Grants paid
$330,176
Program service revenue
$873,219
Investment income
$2,081,483
Other revenue
-$8,062
Total assets, end of year
$29,497,791
Total liabilities, end of year
$2,433,442
Net assets or fund balances, end of year
$27,064,349
Program services expenses (Part IX)
$430,497
Management and general expenses
$763,583
Fundraising expenses
$944,621
Program service expenses (Part III)
$430,497

Program services were 20.1% 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.

  • 1c · Fundraising events

    $94,645

  • 1e · Government grants (contributions)

    $855,352

  • 1f · All other contributions, gifts and grants

    $2,667,426

  • 2a · Program service revenue: MANAGEMENT FEES-HOSPITAL

    total $873,219 · related or exempt $873,219

  • 3 · Investment income

    total $1,556,000 · excluded $1,556,000

  • 7a · Gross sales of assets other than inventory

    securities $14,840,177

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

    securities $14,314,694

  • 7c · Gain or loss

    securities $525,483

  • 7d · Net gain or loss

    total $525,483 · excluded $525,483

  • 8a · Fundraising events: gross income

    $56,155

  • 8a · Fundraising events: contributions included on line 1c

    $94,645

  • 8b · Fundraising events: direct expenses

    $56,155

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total -$8,062 · related or exempt -$8,062

  • 11e · Other revenue, total

    -$8,062

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $330,176 · program services $330,176

  • 5 · Compensation of officers, directors and key employees

    total $294,928 · management and general $147,464 · fundraising $147,464

  • 7 · Other salaries and wages

    total $540,505 · program services $75,671 · management and general $108,101 · fundraising $356,733

  • 8 · Pension plan contributions

    total $37,084 · program services $5,192 · management and general $7,417 · fundraising $24,475

  • 9 · Other employee benefits

    total $81,345 · program services $11,388 · management and general $16,269 · fundraising $53,688

  • 10 · Payroll taxes

    total $57,640 · program services $8,070 · management and general $11,528 · fundraising $38,042

  • 11g · Fees: other

    total $140,952 · management and general $85,129 · fundraising $55,823

  • 13 · Office expenses

    total $24,029 · management and general $17,252 · fundraising $6,777

  • 16 · Occupancy

    total $46,827 · management and general $46,827

  • 17 · Travel

    total $23,314 · management and general $2,504 · fundraising $20,810

  • 19 · Conferences, conventions and meetings

    total $1,117 · fundraising $1,117

  • 24a · Other expenses: SHARED SERVICES FEES

    total $301,468 · management and general $301,468

  • 24b · Other expenses: MISCELLANEOUS

    total $165,382 · management and general $12,876 · fundraising $152,506

  • 24c · Other expenses: SPECIAL EVENTS

    total $70,013 · management and general $6,748 · fundraising $63,265

  • 24d · Other expenses: PRINTING & PUBLICATIONS

    total $19,266 · fundraising $19,266

  • 24e · All other expenses

    total $4,655 · fundraising $4,655

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $840,220 · end of year $805,042

  • 3 · Pledges and grants receivable

    beginning of year $536,421 · end of year $2,666,735

  • 4 · Accounts receivable

    beginning of year $38,674 · end of year $22,670

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,495 · end of year $9,621

  • 11 · Investments: publicly traded securities

    beginning of year $23,389,643 · end of year $25,993,523

  • 17 · Accounts payable and accrued expenses

    beginning of year $299,525 · end of year $1,022,003

  • 18 · Grants payable

    beginning of year $1,449,603 · end of year $1,278,021

  • 19 · Deferred revenue

    beginning of year $11,500 · end of year $133,418

  • 27 · Net assets without donor restrictions

    beginning of year $12,111,804 · end of year $12,573,601

  • 28 · Net assets with donor restrictions

    beginning of year $10,935,221 · end of year $14,490,748

Mission and programs · 2024

Mission

MERITER FOUNDATION EXISTS TO RAISE AND MANAGE GIFTS IN SUPPORT OF THE PROGRAMS AND SERVICES THAT ADVANCE THE MISSION OF MERITER HOSPITAL, INC.

Activities or mission (Part I)

RAISE, INVEST, GRANT AND STEWARD GIFTS ON BEHALF OF MERITER HOSPITAL, INC.

  • MERITER FOUNDATION, INC. IS A NOT-FOR-PROFIT 501 (C)(3) CHARITABLE ORGANIZATION THAT RAISES, INVESTS, GRANTS AND STEWARDS GIFTS ON BEHALF OF MERITER HOSPITAL, INC. THOUSANDS OF INDIVIDUALS AND ORGANIZATIONS HAVE OFFERED CHARITABLE GIVING SUPPORT THAT HAS HELPED ADVANCE MERITER'S COMMITMENT TO THE HEALTHCARE NEEDS OF OUR COMMUNITY. SUCH GIFTS HAVE A POSITIVE AND POWERFUL IMPACT THAT SPANS GENERATIONS AND EXTENDS BEYOND THE DOORS OF MERITER HOSPITAL, INC. INTO THE HEART OF DANE COUNTY AND BEYOND. PHILANTHROPY PROVIDES A MARGIN OF EXCELLENCE THAT ALLOWS MERITER TO ACCOMPLISH PROJECTS AND IMPLEMENT PROGRAMS THAT MIGHT NOT OTHERWISE BE POSSIBLE. IN ADDITION TO RAISING MONEY FOR PROGRAMS AND CAPITAL PROJECTS, THE FOUNDATION GRANTS FUNDS FROM EXISTING ASSETS TO SELECT RESEARCH AND HEALTH EDUCATION INITIATIVES.

    Expenses $430,497 · Grants $330,176 · Revenue $865,157

As filed on the 2024 return.

Listed in Part VII

  • JAMES ARNETT

    BOARD MEMBER & MARKET PRESIDENT/CEO

    Total calculated
    $707,912
    From this org
    $0
    From related orgs
    $616,026
    Other
    $91,886
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $435,082 related
    Bonus
    $0 + $171,471 related
    Other
    $0 + $9,473 related
    Deferred
    $0 + $58,729 related
    Nontaxable benefits
    $0 + $33,157 related
    Filer's total
    $0 + $707,912 related

  • BOBBY ADAMOV

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY BECKMANN TO 524

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HOLLY CREMER BERKENSTADT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SHERRY CASALI

    BOARD MEMBER & MARKET CNO

    Total calculated
    $512,494
    From this org
    $0
    From related orgs
    $448,831
    Other
    $63,663
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $286,363 related
    Bonus
    $0 + $151,417 related
    Other
    $0 + $11,051 related
    Deferred
    $0 + $48,968 related
    Nontaxable benefits
    $0 + $14,695 related
    Filer's total
    $0 + $512,494 related

  • MARY CULLEN

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BALTAZAR DE ANDA SANTANA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • REBECCA MADSON

    PRESIDENT, FOUNDATION

    Total calculated
    $294,927
    From this org
    $250,849
    From related orgs
    $0
    Other
    $44,078
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,791
    Bonus
    $36,741
    Other
    $317
    Deferred
    $10,317
    Nontaxable benefits
    $33,761
    Filer's total
    $294,927

  • DENA FRISCH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • VIRGINIA GRAVES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • THOMAS KEENEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY LEVY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHAS MARTIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TINA NOEL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JULIE OLSON DNP

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CESAR PINZON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH PRILLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KATIE SCHMITT MD

    BOARD MEMBER

    Total calculated
    $507,688
    From this org
    $0
    From related orgs
    $453,174
    Other
    $54,514
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $432,510 related
    Bonus
    $0 + $19,953 related
    Other
    $0 + $711 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $37,264 related
    Filer's total
    $0 + $507,688 related

  • JOHN SIMS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TONY SULLIVAN

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MATT VANDERLOO

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PAM WETZEL MD

    BOARD MEMBER & MARKET CMO

    Total calculated
    $665,360
    From this org
    $0
    From related orgs
    $627,345
    Other
    $38,015
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $451,528 related
    Bonus
    $0 + $160,864 related
    Other
    $0 + $14,953 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $24,215 related
    Filer's total
    $0 + $665,360 related

  • BETH ERDMAN

    MARKET CFO

    Total calculated
    $559,430
    From this org
    $0
    From related orgs
    $506,881
    Other
    $52,549
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $330,770 related
    Bonus
    $0 + $168,571 related
    Other
    $0 + $7,540 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $38,749 related
    Filer's total
    $0 + $559,430 related

  • LISA URBAN

    DIR PHILANTHROPY - GRANTS & PROGRAMS

    Total calculated
    $117,632
    From this org
    $102,613
    From related orgs
    $0
    Other
    $15,019
    Hours/week
    45

  • BRIANNA YANKE

    SR DIRECTOR DEVELOPMENT

    Total calculated
    $137,626
    From this org
    $126,827
    From related orgs
    $0
    Other
    $10,799
    Hours/week
    45

  • SUE ERICKSON TO 622

    FORMER CEO UPH MERITER

    Total calculated
    $402,174
    From this org
    $0
    From related orgs
    $390,202
    Other
    $11,972
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $33,328 related
    Bonus
    $0 + $248,958 related
    Other
    $0 + $107,916 related
    Deferred
    $0 + $9,684 related
    Nontaxable benefits
    $0 + $2,288 related
    Filer's total
    $0 + $402,174 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

  • 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 4B
NONQUALIFIED RETIREMENT PLAN CONTRIBUTIONS: THE FOLLOWING INDIVIDUAL(S) PARTICIPATED IN AND RECEIVED CONTRIBUTIONS IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: JAMES ARNETT $ 44,929 & SHERRY CASALI $ 35,168. NONQUALIFIED RETIREMENT PLAN DISTRIBUTIONS: THE FOLLOWING INDIVIDUAL(S) PARTICIPATED IN AND RECEIVED PAYMENTS FROM A SUPPLEMENTAL NON-QUALIFIED PLAN: SUE ERICKSON $ 106,853. PAYOUTS ARE MADE WITH VESTED FUNDS, AS ESTABLISHED BY PLAN DOCUMENTS.
SCHEDULE J, PART I, LINE 3 - ESTABLISHING COMPENSATION
THE EXECUTIVE COMMITTEE OF THE IOWA HEALTH SYSTEM BOARD OF DIRECTORS ("COMMITTEE") CONDUCTS A COMPREHENSIVE REVIEW OF ALL COMPENSATION AND BENEFITS PROVIDED TO THE ORGANIZATION'S OFFICERS AND KEY EMPLOYEES, INCLUDING THE IHS CHIEF EXECUTIVE OFFICER (THE "CEO"). THIS REVIEW COMPARES THE TOTAL COMPENSATION AND VALUE OF BENEFITS PROVIDED TO EACH EXECUTIVE, ON A POSITION BY POSITION BASIS, TO THAT PROVIDED TO FUNCTIONALLY SIMILAR POSITIONS IN SIMILARLY SITUATED ORGANIZATIONS. THIS REVIEW IS CONDUCTED BY THE COMMITTEE WITH THE ASSISTANCE OF A NATIONAL, INDEPENDENT COMPENSATION CONSULTANT REPORTING DIRECTLY TO THE COMMITTEE. THE COMMITTEE HAS BEEN DELEGATED THE RESPONSIBILITY FOR OVERSIGHT OF EXECUTIVE COMPENSATION AND IS MADE UP ENTIRELY OF INDEPENDENT DIRECTORS WITHIN THE MEANING OF THE "REBUTTABLE PRESUMPTION OF REASONABLENESS" UNDER THE FEDERAL INCOME TAX INTERMEDIATE SANCTIONS RULES. THE COMPENSATION CONSULTANT HOLDS ITSELF OUT TO THE PUBLIC AS A COMPENSATION CONSULTANT, PERFORMS THESE VALUATIONS ON A REGULAR BASIS, IS QUALIFIED TO MAKE THE VALUATIONS OF THE SERVICES INVOLVED, AND HAS SO INDICATED IN A WRITTEN CERTIFICATION TO THE COMMITTEE. BASED UPON THE ADVICE OF THE COMPENSATION CONSULTANT, AND APPLYING THE BOARD'S COMPENSATION PHILOSOPHY, THE COMMITTEE ESTABLISHES THE OVERALL ADJUSTMENT IN COMPENSATION AND BENEFITS FOR THE TOP EXECUTIVES IN THE ENTIRE HEALTH SYSTEM (SEVERAL OF WHICH ARE EMPLOYEES OF THE FILING ORGANIZATION) AND DELEGATES TO THE CEO THE AUTHORITY TO MAKE ADJUSTMENTS, CONSISTENT WITH THE COMMITTEE'S DIRECTION, FOR THE OTHER EXECUTIVES. THE COMMITTEE DETERMINES ALL ASPECTS OF THE COMPENSATION AND BENEFITS OF THE CEO. THE COMMITTEE INTENTIONALLY TAKES ALL THE STEPS NECESSARY TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE FEDERAL INCOME TAX LAW INTERMEDIATE SANCTIONS RULES, INCLUDING CONTEMPORANEOUS SUBSTANTIATION OF ALL COMMITTEE MEETINGS AND ACTIONS. THE ORGANIZATION BELIEVES IT IS IN FULL COMPLIANCE WITH SECTION 4958 OF THE IRC, PROVIDES NO MORE THAN REASONABLE AND FAIR MARKET VALUE COMPENSATION AND BENEFITS FOR ITS EMPLOYEES AND DOES NOT PROVIDE ANY EXCESS COMPENSATION OR BENEFITS AS PROHIBITED BY SECTION 4958.

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.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202523179349312362

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