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Nonprofiteer
← FREEPORT REGIONAL HEALTH CARE FOUND ATION

Form 990 for tax year 2023

Filed by FREEPORT REGIONAL HEALTH CARE FOUND ATION.

Totals

Total revenue
$44,131,773
Total expenses
$69,216,336
Contributions and grants received
$93,865
Grants paid
$0
Program service revenue
$43,797,247
Investment income
$8,948
Other revenue
$231,713
Total assets, end of year
$42,191,160
Total liabilities, end of year
$36,898,584
Net assets or fund balances, end of year
$5,292,576
Program services expenses (Part IX)
$46,186,550
Management and general expenses
$22,747,818
Fundraising expenses
$281,968
Program service expenses (Part III)
$46,186,550

Program services were 66.7% 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

    $93,865

  • 2a · Program service revenue: PATIENT SERV. REVENUE

    total $22,758,189 · related or exempt $22,752,720 · unrelated business $5,469

  • 2b · Program service revenue: CORPORATE ALLOCATION

    total $19,957,300 · related or exempt $19,957,300

  • 2c · Program service revenue: OTHER MISC REVENUE

    total $863,612 · related or exempt $863,612

  • 2d · Program service revenue: GOVERNMENT PAYMENT

    total $218,146 · related or exempt $218,146

  • 3 · Investment income

    total $47,482 · excluded $47,482

  • 6a · Gross rents

    real property $182,120

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $182,120

  • 6d · Net rental income or loss

    total $182,120 · excluded $182,120

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

    securities $38,534

  • 7c · Gain or loss

    securities -$38,534

  • 7d · Net gain or loss

    total -$38,534 · related or exempt -$38,534

  • 8a · Fundraising events: gross income

    $49,593

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $49,593 · excluded $49,593

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,570,987 · program services $1,020,026 · management and general $550,961

  • 7 · Other salaries and wages

    total $30,818,745 · program services $24,021,481 · management and general $6,577,709 · fundraising $219,555

  • 9 · Other employee benefits

    total $5,760,281 · program services $573,844 · management and general $5,182,010 · fundraising $4,427

  • 10 · Payroll taxes

    total $1,937,121 · program services $1,459,675 · management and general $461,714 · fundraising $15,732

  • 11b · Fees: legal

    total $151,009 · management and general $151,009

  • 12 · Advertising and promotion

    total $775,062 · management and general $775,062

  • 14 · Information technology

    total $1,138,966 · management and general $1,138,966

  • 16 · Occupancy

    total $511,881 · program services $244,897 · management and general $266,984

  • 17 · Travel

    total $67,458 · program services $38,051 · management and general $29,407

  • 19 · Conferences, conventions and meetings

    total $199,724 · program services $184,499 · management and general $14,744 · fundraising $481

  • 20 · Interest

    total $736,560 · management and general $736,560

  • 22 · Depreciation, depletion and amortization

    total $2,168,226 · program services $793,085 · management and general $1,375,141

  • 23 · Insurance

    total $1,289,267 · program services $907,329 · management and general $381,938

  • 24a · Other expenses: CORPORATE ALLOCATION

    total $5,689,175 · program services $5,689,175 · management and general $0

  • 24b · Other expenses: MEDICAL SSPECIALIST

    total $5,318,568 · program services $5,318,568

  • 24c · Other expenses: CONTRACTED SERVICES

    total $4,439,635 · program services $1,587,170 · management and general $2,842,476 · fundraising $9,989

  • 24d · Other expenses: DRUGS

    total $1,940,347 · program services $1,939,693 · management and general $654

  • 24e · All other expenses

    total $4,703,324 · program services $2,409,057 · management and general $2,262,483 · fundraising $31,784

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,457,481 · end of year $3,816,795

  • 4 · Accounts receivable

    beginning of year $2,723,557 · end of year $2,652,691

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,124,948 · end of year $2,190,214

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

    $59,415,973

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

    $41,326,596

  • 10c · Land, buildings and equipment, net

    beginning of year $18,136,720 · end of year $18,089,377

  • 11 · Investments: publicly traded securities

    beginning of year $2,466,230 · end of year $2,794,923

  • 12 · Investments: other securities

    beginning of year $2,553,695 · end of year $2,717,286

  • 13 · Investments: program-related

    beginning of year $1,639,282 · end of year $1,639,282

  • 15 · Other assets

    beginning of year $9,101,066 · end of year $8,290,592

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,914,608 · end of year $2,637,613

  • 20 · Tax-exempt bond liabilities

    beginning of year $31,350,000 · end of year $30,290,000

  • 25 · Other liabilities

    beginning of year $3,883,079 · end of year $3,970,971

  • 27 · Net assets without donor restrictions

    beginning of year $42,281 · end of year $1,929,482

  • 28 · Net assets with donor restrictions

    beginning of year $3,013,011 · end of year $3,363,094

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

OUR MISSION IS TO IMPROVE THE HEALTH OF OUR COMMUNITIES, WORKING TOGETHER WITH THOSE WE SERVE.

  • FREEPORT REGIONAL HEALTH CARE FOUNDATION PROVIDES PHYSICIAN SERVICES TO PATIENTS IN FIVE NORTHWESTERN ILLINOIS COUNTIES. THE FOUNDATION ENSURES CONTINUED ACCESS TO CARE BY SERVING PATIENTS IN MEDICALLY UNDERSERVED AREAS.

    Expenses $12,345,714 · Revenue $31,089,409

  • OTHER UNCOMPENSATED CARE: THE FOUNDATION IS A LICENSED MEDICARE AND MEDICAID PROVIDER WITH APPROXIMATELY 69% OF ITS PATIENTS BASE QUALIFYING FOR AT LEAST ON OF THESE PROGRAMS. AT PRESENT THE REIMBURSEMENT RATES OF THESE PROGRAMS DO NOT FULLY COVER THE COST OF CARE TO THESE PATIENTS. THE ESTIMATED UNFUNDED COSTS OF THE SERVICES FOR MEDICARE AND MEDICAID PATIENTS WAS APPROXIMATELY $20,283,502 FOR THE YEAR ENDING 12/31/2023.

    Expenses $33,761,006 · Revenue $12,996,332

  • CHARITY CARE: THE FOUNDATION PROVIDED CARE BENEFITS UP TO 300% OF THE FEDERALLY DETERMINED PROVERTY LEVEL. CHARGES FOREGONE FOR CHARITY CARE AMOUNTED TO APPROXIMATELY $79,830 IN 2023. ESTIMATED COSTS OF PROVIDING THESE SERVICES AMOUNTED TO APPROXIMATELY $52,565 IN 2023.

    Expenses $79,830 · Revenue $52,565

  • FHN OPERATES AND/OR SUPPORTS A VARIETY OF COMMUNITY BENEFIT PROGRAMS THAT INCLUDED BUT WERE NOT LIMITED TO THE FOLLOWING:COMMUNITY HEALTH EDUCATION PROGRAMS: AS PART OF FHN'S COMMITMENT TO PROVIDING HEALTH EDUCATION TO AREA COMMUNITIES, FHN PROVIDED NUMEROUS COMMUNITY EDUCATION EVENTS AND SCHOOL HEALTH PROGRAMS AND SUPPORT GROUP EVENTS. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS AND DEVELOPMENT OF RESOURCES WERE APPROXIMATELY $27,000.COMMUNITY-BASED CLINICAL SERVICES: AS PART OF FHN'S MISSION TO IMPROVE HEALTH, FHN AND THE STEPHENSON COUNTY HEALTH DEPARTMENT HAVE PARTNERED TO PROVIDE PRIMARY HEALTH CARE SERVICES TO ANYONE IN NEED OF MEDICAL CARE AT THE FHN COMMUNITY HEALTHCARE CENTER. APPROXIMATELY 2,000 PATIENT VISITS WERE PROVIDED IN 2023. SERVICES OFFERED INCLUDE DIAGNOSIS AND TREATMENT OF COMMON ACUTE ILLNESSES AS WELL AS MANAGEMENT OF CHRONIC HEALTH PROBLEMS, INCLUDING NURSE PRACTITIONER EXAMS AND CONSULTATIONS, LAB TESTS, X-RAYS AND HEALTH EDUCATION.FHN ALSO PROVIDED 2,637 HEALTH SCREENS AND SPORTS PHYSICALS, 387 HOURS OF CONDITIONING AND TRAINING SUPPORT AND SPORTS MEDICINE TRAINERS AT SEVERAL EVENTS. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS WERE APPROXIMATELY $443,000.HEALTH CARE SUPPORT SERVICES: SINCE COMMUNITY MEMBERS MAY REQUIRE DIFFERENT TYPES OF ASSISTANCE, FHN PROVIDES INFORMATION AND REFERRAL SERVICES, TRANSLATION SERVICES AND TRANSPORTATION ASSISTANCE. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS WERE APPROXIMATELY $122,000. HEALTH PROFESSIONAL EDUCATION: FHN SUPPORTS THE TRAINING OF HEALTH CARE PROFESSIONALS BY PROVIDING SCHOLARSHIPS, CLINICAL SETTINGS AND SUPERVISION TO NON-FHN EMPLOYEES. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS WERE APPROXIMATELY $269,000.FINANCIAL CONTRIBUTIONS: FHN RECOGNIZES THE IMPORTANCE OF GIVING BACK TO THE COMMUNITY THROUGH CHARITABLE ORGANIZATION AND OTHERS INVOLVED IN PROMOTING HEALTH AND WELLNESS IN OUR COMMUNITY. IN 2023, FHN PROVIDED SUPPORT TO A NUMBER OF COMMUNITY GROUPS THROUGH DIRECT FINANCIAL CONTRIBUTIONS AND PROVIDING ROOMS OR STAFF TIME. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS WERE APPROXIMATELY $42,000.COMMUNITY-BUILDING ACTIVITIES: FHN VALUES THE CONTRIBUTIONS AND EFFORTS OF OTHER ORGANIZATIONS IN IMPROVING THE HEALTH OF OUR COMMUNITIES. AS SUCH, FHN PROVIDED FINANCIAL AND IN-KIND SUPPORT TO ASSIST OTHER LOCAL COMMUNITY DEVELOPMENT ORGANIZATIONS. THE ESTIMATED DIRECT AND INDIRECT COSTS OF THESE PROGRAMS WERE APPROXIMATELY $38,000.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Neal Richardson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Heather McPherson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Wright

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Rich Chang

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Quinn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Shokry Tawfik MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    50

  • Bruce Baldwin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Glenda Koeller

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Dan Schmitt

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Amy Baker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Mark S Gridley

    PRESIDENT & CEO

    Total calculated
    $798,252
    From this org
    $271,598
    From related orgs
    $462,451
    Other
    $64,203
    Hours/week
    14 + 26 related

    Schedule J breakdown matched by us

    Base
    $251,819 + $428,772 related
    Bonus
    $0
    Other
    $19,779 + $33,679 related
    Deferred
    $7,809 + $13,296 related
    Nontaxable benefits
    $15,946 + $27,152 related
    Filer's total
    $295,353 + $502,899 related

  • Michael Clark

    EXECUTIVE VP & CFO

    Total calculated
    $412,285
    From this org
    $130,289
    From related orgs
    $221,842
    Other
    $60,154
    Hours/week
    14 + 26 related

    Schedule J breakdown matched by us

    Base
    $95,907 + $163,300 related
    Bonus
    $0
    Other
    $34,382 + $58,542 related
    Deferred
    $8,325 + $14,175 related
    Nontaxable benefits
    $13,932 + $23,722 related
    Filer's total
    $152,546 + $259,739 related

  • Leonard M Carter

    VP - HUMAN RESOURCES

    Total calculated
    $278,545
    From this org
    $88,692
    From related orgs
    $151,015
    Other
    $38,838
    Hours/week
    14 + 26 related

    Schedule J breakdown matched by us

    Base
    $77,453 + $131,879 related
    Bonus
    $0
    Other
    $11,239 + $19,136 related
    Deferred
    $0
    Nontaxable benefits
    $14,370 + $24,468 related
    Filer's total
    $103,062 + $175,483 related

  • Rebecca Pedersen MD

    CHIEF QUALITY CONTROL

    Total calculated
    $431,173
    From this org
    $394,510
    From related orgs
    $0
    Other
    $36,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,480
    Bonus
    $9,253
    Other
    $30,777
    Deferred
    $0
    Nontaxable benefits
    $36,663
    Filer's total
    $431,173

  • Timothy Jessen MD

    CHAIR PHYSICIAN COUNCIL

    Total calculated
    $336,449
    From this org
    $297,480
    From related orgs
    $0
    Other
    $38,969
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,688
    Bonus
    $29,477
    Other
    $35,315
    Deferred
    $20,769
    Nontaxable benefits
    $18,200
    Filer's total
    $336,449

  • Beth Kalnins MD

    EMPLOYED PHYSICIAN

    Total calculated
    $300,371
    From this org
    $0
    From related orgs
    $272,722
    Other
    $27,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $264,228 related
    Bonus
    $0 + $3,750 related
    Other
    $0 + $4,744 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $27,649 related
    Filer's total
    $0 + $300,371 related

  • Clarence Parks MD

    PRESIDENT OF MEDICAL STAFF

    Total calculated
    $529,271
    From this org
    $0
    From related orgs
    $509,041
    Other
    $20,230
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $456,596 related
    Bonus
    $0 + $17,833 related
    Other
    $0 + $34,612 related
    Deferred
    $0 + $17,717 related
    Nontaxable benefits
    $0 + $2,513 related
    Filer's total
    $0 + $529,271 related

  • Robert Geller MD

    HEAD OF INFECTIOUS DISEASE

    Total calculated
    $252,404
    From this org
    $224,442
    From related orgs
    $0
    Other
    $27,962
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,684
    Bonus
    $20,515
    Other
    $33,243
    Deferred
    $0
    Nontaxable benefits
    $27,962
    Filer's total
    $252,404

  • Kathryn Martinez

    CNO/COO

    Total calculated
    $298,414
    From this org
    $0
    From related orgs
    $263,293
    Other
    $35,121
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $242,831 related
    Bonus
    $0
    Other
    $0 + $20,462 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $35,121 related
    Filer's total
    $0 + $298,414 related

  • Dammann Gregory

    PHYSICIAN

    Total calculated
    $1,022,149
    From this org
    $984,283
    From related orgs
    $0
    Other
    $37,866
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $673,755
    Bonus
    $279,620
    Other
    $30,908
    Deferred
    $0
    Nontaxable benefits
    $37,866
    Filer's total
    $1,022,149

  • Barnes Barry

    PHYSICIAN

    Total calculated
    $758,362
    From this org
    $726,270
    From related orgs
    $0
    Other
    $32,092
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $653,036
    Bonus
    $32,652
    Other
    $40,582
    Deferred
    $0
    Nontaxable benefits
    $32,092
    Filer's total
    $758,362

  • Madhusudan R Malladi MD

    PHYSICIAN

    Total calculated
    $761,585
    From this org
    $704,172
    From related orgs
    $0
    Other
    $57,413
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $613,639
    Bonus
    $42,469
    Other
    $48,064
    Deferred
    $16,632
    Nontaxable benefits
    $40,781
    Filer's total
    $761,585

  • Kilaru Prasad

    PHYSICIAN

    Total calculated
    $710,217
    From this org
    $689,655
    From related orgs
    $0
    Other
    $20,562
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $665,717
    Bonus
    $0
    Other
    $23,938
    Deferred
    $0
    Nontaxable benefits
    $20,562
    Filer's total
    $710,217

  • Khan Farhan

    PHYSICIAN

    Total calculated
    $513,266
    From this org
    $511,688
    From related orgs
    $0
    Other
    $1,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $443,451
    Bonus
    $37,057
    Other
    $31,180
    Deferred
    $0
    Nontaxable benefits
    $1,578
    Filer's total
    $513,266

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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 1A
FREEPORT REGIONAL HEALTH CARE FOUNDATION REIMBURSED A DIRECTOR/TRUSTEE FOR BUSINESS TRAVEL EXPENSES INCLUDING TRAVEL EXPENSES FOR A SPOUSE.

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.

Related corporations and trusts

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

  • MEMORIAL ENTERPRISES INC

    C · HEALTH CARE · IL · 100% owned

    Directly controlled by FREEPORT REGIONAL HEALTH CARE FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423239349301232

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