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← MHIC

Form 990 for tax year 2022

Filed by MHIC.

Totals

Total revenue
$164,462,075
Total expenses
$193,174,817
Contributions and grants received
$110,521
Grants paid
$12,000
Program service revenue
$163,519,230
Investment income
-$108,897
Other revenue
$941,221
Total assets, end of year
$160,030,077
Total liabilities, end of year
$136,653,461
Net assets or fund balances, end of year
$23,376,616
Program services expenses (Part IX)
$135,777,255
Management and general expenses
$57,397,562
Fundraising expenses
$0
Program service expenses (Part III)
$135,777,255

Program services were 70.3% 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

    $110,521

  • 2a · Program service revenue: Patient Serv. Revenue

    total $79,029,550 · related or exempt $79,029,550

  • 2b · Program service revenue: Medicare/Medicaid

    total $75,118,929 · related or exempt $75,118,929

  • 2c · Program service revenue: Lab Outreach

    total $4,909,844 · unrelated business $4,909,844

  • 2d · Program service revenue: ASC/DIC Income

    total $2,704,664 · related or exempt $2,704,664

  • 2e · Program service revenue: Wellmark Incentive

    total $652,116 · related or exempt $652,116

  • 2f · All other program service revenue

    total $1,104,127 · related or exempt $1,104,127

  • 3 · Investment income

    total -$896,234 · excluded -$896,234

  • 6a · Gross rents

    real property $1,182,580

  • 6b · Less rental expenses

    real property $985,762

  • 6c · Rental income or loss

    real property $196,818

  • 6d · Net rental income or loss

    total $196,818 · excluded $196,818

  • 7a · Gross sales of assets other than inventory

    securities $49,534,360

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

    securities $48,747,023

  • 7c · Gain or loss

    securities $787,337

  • 7d · Net gain or loss

    total $787,337 · excluded $787,337

  • 11a · Other revenue: Cafeteria Income

    total $507,791 · excluded $507,791

  • 11b · Other revenue: Emerson Point Meal Svc

    total $114,202 · related or exempt $114,202

  • 11d · All other revenue

    total $122,410 · related or exempt $122,410

  • 11e · Other revenue, total

    $744,403

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,000 · program services $12,000

  • 5 · Compensation of officers, directors and key employees

    total $1,123,830 · program services $119,519 · management and general $1,004,311

  • 7 · Other salaries and wages

    total $55,609,733 · program services $44,054,665 · management and general $11,555,068

  • 8 · Pension plan contributions

    total $135,316 · program services $94,302 · management and general $41,014

  • 9 · Other employee benefits

    total $5,803,587 · program services $4,044,520 · management and general $1,759,067

  • 10 · Payroll taxes

    total $3,993,160 · program services $2,782,833 · management and general $1,210,327

  • 11a · Fees: management

    total $848,792 · management and general $848,792

  • 11b · Fees: legal

    total $1,073,674 · management and general $1,073,674

  • 11c · Fees: accounting

    total $206,535 · management and general $206,535

  • 11d · Fees: lobbying

    total $28,315 · management and general $28,315

  • 11g · Fees: other

    total $40,213,949 · program services $25,617,885 · management and general $14,596,064

  • 12 · Advertising and promotion

    total $412,397 · management and general $412,397

  • 13 · Office expenses

    total $12,709,410 · program services $8,354,811 · management and general $4,354,599

  • 14 · Information technology

    total $8,932,545 · program services $151,434 · management and general $8,781,111

  • 16 · Occupancy

    total $2,777,251 · program services $113,856 · management and general $2,663,395

  • 17 · Travel

    total $389,127 · program services $70,908 · management and general $318,219

  • 20 · Interest

    total $4,107,263 · program services $1,620,890 · management and general $2,486,373

  • 22 · Depreciation, depletion and amortization

    total $9,130,077 · program services $6,876,589 · management and general $2,253,488

  • 23 · Insurance

    total $2,140,642 · management and general $2,140,642

  • 24a · Other expenses: Medical Supplies

    total $18,694,714 · program services $18,683,685 · management and general $11,029

  • 24b · Other expenses: Pharmacy Supplies

    total $10,704,804 · program services $10,704,804 · management and general $0

  • 24c · Other expenses: Bad Debt Expense

    total $9,558,655 · program services $9,558,655 · management and general $0

  • 24d · Other expenses: Food Expense

    total $895,392 · program services $895,392 · management and general $0

  • 24e · All other expenses

    total $3,673,649 · program services $2,020,507 · management and general $1,653,142

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,790,517 · end of year $9,838,383

  • 2 · Savings and temporary cash investments

    beginning of year $133,521 · end of year $68,269

  • 4 · Accounts receivable

    beginning of year $31,243,280 · end of year $27,890,458

  • 8 · Inventories for sale or use

    beginning of year $3,579,601 · end of year $2,992,970

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,610,445 · end of year $3,164,673

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

    $259,054,727

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

    $204,475,259

  • 10c · Land, buildings and equipment, net

    beginning of year $62,380,441 · end of year $54,579,468

  • 11 · Investments: publicly traded securities

    beginning of year $52,778,600 · end of year $11,032,514

  • 13 · Investments: program-related

    beginning of year -$91,318,072 · end of year -$109,415,759

  • 15 · Other assets

    beginning of year $142,224,980 · end of year $159,879,101

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,705,862 · end of year $37,200,486

  • 20 · Tax-exempt bond liabilities

    beginning of year $70,127,406 · end of year $69,158,372

  • 23 · Secured mortgages and notes payable

    beginning of year $2,316,111 · end of year $1,736,338

  • 25 · Other liabilities

    beginning of year $45,467,512 · end of year $28,558,265

  • 27 · Net assets without donor restrictions

    beginning of year $55,806,422 · end of year $23,376,616

Mission and programs · 2022

Mission

Mercy Iowa City ("Mercy") heals and comforts the sick and works to improve the health of the community in the spirit of Jesus Christ and the Catholic tradition of the Sisters of Mercy.

Activities or mission (Part I)

To heal and comfort the sick and improve the health of the community in the spirit of Jesus Christ.

  • Hospital Services. In keeping with our mission of healing and comforting the sick, providing hospital medical services is at the heart of what we do. These services are provided in inpatient and outpatient settings, in situations that may be emergent, acute or chronic. Services include a 24 hour emergency unit, intensive and cardiovascular care. We also service a maternity unit and newborn nursery along with other surgical services, cardiac cath lab, cancer care, digestive care, telemetry monitored care, medical care, stroke care.

    Expenses $124,731,710 · Grants $12,000 · Revenue $163,656,643

  • Education. The ongoing education of Mercy staff is critical in the fast changing field of health care and it necessary to meet regulations and certifications. Mercy hosts a number of professional continuing education classes each year, which is attended by it's own staff and staff from other institutions. Mercy provides a setting for students who are considering a career in health care including a class of insight to possible careers and preparation for CNA exam.

    Expenses $137,092 · Revenue $99,199

  • Community Benefit. Mercy's largest community benefit is the unpaid cost of Medicaid ($10.9 million). Other examples include cash donations to community non-for-profits such as the Free Medical Clinic, leadership time and skills that further the work of the non-for-profits, first aid booth provided at public events including the Johnson Co Fair. As a trusted, longtime member of the community, Mercy plays an important role not only in further community health but the general community good.

    Expenses $10,908,453

As filed on the 2022 return.

Listed in Part VII

  • Dawna Miller

    Treasurer (End 7/22)

    Total calculated
    $399,550
    From this org
    $366,748
    From related orgs
    $0
    Other
    $32,802
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $207,266
    Bonus
    $54,638
    Other
    $104,844
    Deferred
    $8,332
    Nontaxable benefits
    $24,470
    Filer's total
    $399,550

  • Kim Volk

    VP - Nursing

    Total calculated
    $277,606
    From this org
    $251,722
    From related orgs
    $0
    Other
    $25,884
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,038
    Bonus
    $12,150
    Other
    $534
    Deferred
    $4,523
    Nontaxable benefits
    $21,361
    Filer's total
    $277,606

  • Scott Alderman

    VP - Information and Tech(End 12/22)

    Total calculated
    $262,235
    From this org
    $249,028
    From related orgs
    $0
    Other
    $13,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,140
    Bonus
    $11,788
    Other
    $100
    Deferred
    $6,187
    Nontaxable benefits
    $7,020
    Filer's total
    $262,235

  • Jeffrey Rooney

    Treasurer (8/22-4/23)

    Total calculated
    $0
    Hours/week
    40 + 2 related

  • Jim Porter

    Treasurer (Beg 5/23)

    Total calculated
    $0
    Hours/week
    40 + 2 related

  • Lynn Whisler

    Board Member(End 3/23)/Sec(Beg 4/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Madeline Windauer

    Vice Chair (Beg 10/22)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike Trachta

    CEO & Administrator (End 3/23)

    Total calculated
    $0
    Hours/week
    40 + 2 related

  • Tom Clancy

    Chair/Sec (End 3/23)/CEO (Beg 4/23)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tom McLaughlin

    Chair (End 10/22)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bob Ritz

    Board Member (End 3/23)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dave Vellinga

    Board Member (End 3/23)

    Total calculated
    $0
    Hours/week
    1

  • Dr Chris Scott

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Karin Franklin

    Board Member (End 10/22)

    Total calculated
    $0
    Hours/week
    1

  • Jack Dusenbery

    Board Member (End 10/22)

    Total calculated
    $0
    Hours/week
    1

  • Mary Westbrook

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Peter Gardner

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • SR Helen Marie Burns

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • SR Linda Bechen

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • SR Rita Specht

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Steven Anderson

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kimberley Rossiter

    Assistant Treasurer (End 8/22)

    Total calculated
    $229,973
    From this org
    $208,788
    From related orgs
    $0
    Other
    $21,185
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $194,183
    Bonus
    $7,750
    Other
    $6,855
    Deferred
    $5,002
    Nontaxable benefits
    $16,183
    Filer's total
    $229,973

  • Stuart Elkin

    Assistant Treasurer (Beg 9/22)

    Total calculated
    $176,195
    From this org
    $170,462
    From related orgs
    $0
    Other
    $5,733
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $170,317
    Bonus
    $0
    Other
    $145
    Deferred
    $5,733
    Nontaxable benefits
    $0
    Filer's total
    $176,195

  • Andrew Ashby

    Physician

    Total calculated
    $574,595
    From this org
    $538,134
    From related orgs
    $0
    Other
    $36,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $517,684
    Bonus
    $2,000
    Other
    $18,450
    Deferred
    $7,175
    Nontaxable benefits
    $29,286
    Filer's total
    $574,595

  • Craig Huston

    Physician

    Total calculated
    $574,316
    From this org
    $533,131
    From related orgs
    $0
    Other
    $41,185
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $488,131
    Bonus
    $45,000
    Other
    $0
    Deferred
    $10,213
    Nontaxable benefits
    $30,972
    Filer's total
    $574,316

  • Michael Hoffman

    Physician

    Total calculated
    $538,557
    From this org
    $498,496
    From related orgs
    $0
    Other
    $40,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $482,196
    Bonus
    $2,400
    Other
    $13,900
    Deferred
    $10,675
    Nontaxable benefits
    $29,386
    Filer's total
    $538,557

  • Luke Brunkhorst

    Physician

    Total calculated
    $534,816
    From this org
    $502,463
    From related orgs
    $0
    Other
    $32,353
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $500,063
    Bonus
    $2,000
    Other
    $400
    Deferred
    $5,125
    Nontaxable benefits
    $27,228
    Filer's total
    $534,816

  • Steven Udelhofen

    Physician

    Total calculated
    $467,287
    From this org
    $453,981
    From related orgs
    $0
    Other
    $13,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $415,781
    Bonus
    $38,000
    Other
    $200
    Deferred
    $6,429
    Nontaxable benefits
    $6,877
    Filer's total
    $467,287

  • Martin Izakovic

    Former VP/Physician

    Total calculated
    $232,633
    From this org
    $211,649
    From related orgs
    $0
    Other
    $20,984
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,495
    Bonus
    $19,865
    Other
    $18,289
    Deferred
    $4,928
    Nontaxable benefits
    $16,056
    Filer's total
    $232,633

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4a
Dawna Miller, Chief Financial Officer received severance payments amounting to $103,884 in calendar year 2022 as part of her employment contract.
Part I, Line 7
Non-fixed payments were provided to administrators and physicians who met stated criteria that included meeting certain RVU (Relative Value Unit), productivity levels, specified CMS/JACHO performance core indicators and certain patient satisfaction and/or nursing satisfaction survey scores.

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.

  • Iowa City Ambulatory Surgical Center LLC

    Related · Outpatient Surgery · IA · 40% owned · share of income $2,828,785 · share of assets $1,622,733 · general or managing partner

    Directly controlled by Mercy Hospital

  • Corridor Radiology LLC

    Related · Radiology Services · IA · 51% owned · share of income $192,489 · share of assets -$55,239

    Directly controlled by Mercy Hospital

  • Eastern Iowa Rehabilitation Hospital LLC

    Related · Inpatient Rehabilitation Care · IA · 51% owned · share of income -$801,558 · share of assets $7,942,126

    Directly controlled by Mercy Hospital

Related corporations and trusts

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

  • Mercy Services Iowa City Inc

    C · Medical Clinic Services · IA · 100% owned · share of income $21,944,593 · share of assets $20,776,448 · controlled entity

    Directly controlled by Mercy Hospital

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349311017

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