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← MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE INC

Form 990 for tax year 2024

Filed by MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE INC.

Totals

Total revenue
$32,455,789
Total expenses
$32,415,403
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$32,332,182
Investment income
$123,607
Other revenue
$0
Total assets, end of year
$227,296,317
Total liabilities, end of year
$228,372,549
Net assets or fund balances, end of year
-$1,076,232
Program services expenses (Part IX)
$13,627,129
Management and general expenses
$18,788,274
Fundraising expenses
$0
Program service expenses (Part III)
$13,627,129

Program services were 42.0% 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: SERVICE REVENUE

    total $32,332,182 · related or exempt $32,332,182

  • 3 · Investment income

    total $123,607 · excluded $123,607

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $575,176 · management and general $575,176

  • 11c · Fees: accounting

    total $121,827 · management and general $121,827

  • 11g · Fees: other

    total $427,327 · management and general $427,327

  • 13 · Office expenses

    total $147,974 · management and general $147,974

  • 16 · Occupancy

    total $150,167 · management and general $150,167

  • 17 · Travel

    total $18,261 · program services $18,261

  • 20 · Interest

    total $9,152,083 · management and general $9,152,083

  • 22 · Depreciation, depletion and amortization

    total $8,054,936 · management and general $8,054,936

  • 23 · Insurance

    total $810,369 · program services $810,369

  • 24a · Other expenses: OPERATIONAL EXPENSE

    total $8,024,199 · program services $8,024,199

  • 24b · Other expenses: OPERATIONAL MANAGEMENT

    total $4,774,300 · program services $4,774,300

  • 24c · Other expenses: MISCELLANEOUS

    total $158,784 · management and general $158,784

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,636,845 · end of year $9,476,540

  • 4 · Accounts receivable

    beginning of year $7,036,916 · end of year $4,054,894

  • 8 · Inventories for sale or use

    beginning of year $723,274 · end of year $821,905

  • 9 · Prepaid expenses and deferred charges

    beginning of year $319,258 · end of year $520,119

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

    $266,567,036

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

    $54,308,310

  • 10c · Land, buildings and equipment, net

    beginning of year $214,484,838 · end of year $212,258,726

  • 15 · Other assets

    beginning of year $0 · end of year $164,133

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,576,459 · end of year $5,583,395

  • 20 · Tax-exempt bond liabilities

    beginning of year $223,387,266 · end of year $222,204,367

  • 25 · Other liabilities

    beginning of year $605,174 · end of year $584,787

  • 27 · Net assets without donor restrictions

    beginning of year -$1,367,768 · end of year -$1,076,232

Mission and programs · 2024

Mission

MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE, INC. PURPOSE IS TO PROVIDE STEAM AND CHILLED WATER TO THE MEMBERS OF MRMC.

Activities or mission (Part I)

PURPOSE IS TO PROVIDE STEAM AND CHILLED WATER TO THE MEMBERS OF MRMC.

  • MILWAUKEE REGIONAL MEDICAL CENTER THERMAL SERVICE, INC. PURPOSE IS TO PROVIDE STEAM AND CHILLED WATER TO THE MEMBERS OF MRMC.

    Expenses $13,627,129 · Revenue $32,332,182

As filed on the 2024 return.

Listed in Part VII

  • Rachel Stauffer

    VP OF FINANCE

    Total calculated
    $269,265
    From this org
    $0
    From related orgs
    $230,127
    Other
    $39,138
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,377 related
    Bonus
    $0 + $18,750 related
    Other
    $0
    Deferred
    $0 + $23,013 related
    Nontaxable benefits
    $0 + $16,125 related
    Filer's total
    $0 + $269,265 related

  • Robert Simi

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5 + 35 related

  • Jeff Bornemann

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Matt Wade

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Lester

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Scott Hawig

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Marc Cadieux

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Marks

    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

None.

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)

PART I, LINE 3
COMPENSATION FOR OFFICERS IS NOT PAID BY THE ORGANIZATION BUT BY THE RELATED ORGANIZATION MILWAUKEE REGIONAL MEDICAL CENTER (MRMC). MRMC DETERMINES THE COMPENSATION OF THE OFFICERS USING THE FOLLOWING: 1. WRITTEN EMPLOYMENT CONTRACTS 2. COMPENSATION SURVEY OR STUDY 3. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
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.

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202523169349301147

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