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Nonprofiteer
← OLMSTED MEDICAL CENTER

Form 990 for tax year 2023

Filed by OLMSTED MEDICAL CENTER.

Totals

Total revenue
$278,954,376
Total expenses
$273,475,611
Contributions and grants received
$456,867
Grants paid
$258,481
Program service revenue
$273,983,346
Investment income
$4,002,188
Other revenue
$511,975
Total assets, end of year
$295,849,044
Total liabilities, end of year
$55,026,006
Net assets or fund balances, end of year
$240,823,038
Program services expenses (Part IX)
$233,534,935
Management and general expenses
$39,842,973
Fundraising expenses
$97,703
Program service expenses (Part III)
$233,534,935

Program services were 85.4% 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

    $54,757

  • 1e · Government grants (contributions)

    $402,110

  • 2a · Program service revenue: NET PATIENT SERVICES

    total $267,599,841 · related or exempt $267,599,841

  • 2b · Program service revenue: PHARMACY

    total $6,383,505 · related or exempt $3,976,770 · unrelated business $2,406,735

  • 3 · Investment income

    total $4,144,280 · excluded $4,144,280

  • 6a · Gross rents

    real property $73,410

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $73,410

  • 6d · Net rental income or loss

    total $73,410 · excluded $73,410

  • 7a · Gross sales of assets other than inventory

    securities $5,703,660

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

    securities $5,829,832 · other assets $15,920

  • 7c · Gain or loss

    securities -$126,172 · other assets -$15,920

  • 7d · Net gain or loss

    total -$142,092 · excluded -$142,092

  • 10a · Gross sales of inventory

    $52,235

  • 10b · Cost of goods sold

    $35,870

  • 10c · Net income from sales of inventory

    total $16,365 · excluded $16,365

  • 11a · Other revenue: MISCELLANEOUS

    total $218,324 · excluded $218,324

  • 11b · Other revenue: CAFETERIA

    total $203,876 · excluded $203,876

  • 11e · Other revenue, total

    $422,200

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $258,481 · program services $258,481

  • 5 · Compensation of officers, directors and key employees

    total $2,424,144 · management and general $2,424,144

  • 7 · Other salaries and wages

    total $127,417,772 · program services $111,835,608 · management and general $15,582,164

  • 8 · Pension plan contributions

    total $6,819,210 · program services $5,409,117 · management and general $1,376,338 · fundraising $33,755

  • 9 · Other employee benefits

    total $19,123,474 · program services $14,668,436 · management and general $4,445,156 · fundraising $9,882

  • 10 · Payroll taxes

    total $8,045,949 · program services $6,854,557 · management and general $1,162,027 · fundraising $29,365

  • 11a · Fees: management

    total $731,685 · program services $103,940 · management and general $627,745

  • 11b · Fees: legal

    total $349,466 · management and general $349,466

  • 11c · Fees: accounting

    total $132,727 · management and general $132,727

  • 11g · Fees: other

    total $21,298,274 · program services $16,795,004 · management and general $4,503,270

  • 12 · Advertising and promotion

    total $819,085 · program services $9,772 · management and general $809,313

  • 13 · Office expenses

    total $417,927 · program services $116,140 · management and general $301,787

  • 14 · Information technology

    total $644,934 · program services $371,885 · management and general $273,049

  • 16 · Occupancy

    total $7,921,985 · program services $6,124,044 · management and general $1,797,941

  • 17 · Travel

    total $486,068 · program services $196,003 · management and general $290,065

  • 19 · Conferences, conventions and meetings

    total $1,064,333 · program services $629,027 · management and general $435,306

  • 20 · Interest

    total $385,116 · program services $11,461 · management and general $373,655

  • 22 · Depreciation, depletion and amortization

    total $10,954,649 · program services $10,954,649

  • 23 · Insurance

    total $2,462,603 · program services $531,319 · management and general $1,931,284

  • 24a · Other expenses: MEDICAL/GEN. SUPPLIES

    total $38,633,744 · program services $38,416,379 · management and general $217,365

  • 24b · Other expenses: EQUIP/SOFT. MAINTENANCE

    total $10,873,874 · program services $8,057,183 · management and general $2,791,990 · fundraising $24,701

  • 24c · Other expenses: BAD DEBT

    total $7,891,210 · program services $7,891,210

  • 24d · Other expenses: MN CARE TAX

    total $4,300,720 · program services $4,300,720

  • 24e · All other expenses

    total $18,181 · management and general $18,181

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $88,774,622 · end of year $94,865,292

  • 4 · Accounts receivable

    beginning of year $32,144,937 · end of year $42,878,900

  • 8 · Inventories for sale or use

    beginning of year $3,595,936 · end of year $3,717,462

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,626,108 · end of year $3,595,657

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

    $202,103,907

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

    $105,186,445

  • 10c · Land, buildings and equipment, net

    beginning of year $94,558,692 · end of year $96,917,462

  • 11 · Investments: publicly traded securities

    beginning of year $46,626,913 · end of year $46,094,945

  • 15 · Other assets

    beginning of year $7,991,390 · end of year $7,779,326

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,917,798 · end of year $41,881,668

  • 19 · Deferred revenue

    beginning of year $69,063 · end of year $69,063

  • 23 · Secured mortgages and notes payable

    beginning of year $4,789,108 · end of year $4,140,756

  • 25 · Other liabilities

    beginning of year $8,171,534 · end of year $8,934,519

  • 27 · Net assets without donor restrictions

    beginning of year $232,371,095 · end of year $240,823,038

Mission and programs · 2023

Mission

PARTNERING FOR BETTER HEALTH AND BETTER LIVES.

  • PERSONAL APPROACH TO CARE THROUGH MORE THAN 25 SPECIALTIES. ALL OF OUR SPECIALTY SERVICES COMPLIMENT PRIMARY CARE AND OFFER PATIENTS GREATER CONVENIENCE AND PEACE OF MIND. WE CONTINUE TO WORK TO POSITION OMC AS A PREFERRED HEALTHCARE PROVIDER FOR PRIMARY AND SECONDARY CARE AMONG SOUTHEASTERN MINNESOTA RESIDENTS. OMC'S 218 CLINICIANS AND 1,100+ HEALTHCARE PROFESSIONALS SERVE AT 27 LOCATIONS, INCLUDING PHYSICAL/OCCUPATIONAL THERAPY, TWO MULTI-SPECIALTY CLINICS, SPORTS MEDICINE FACILITIES, A LEVEL IV TRAUMA HOSPITAL WITH 24-HOUR EMERGENCY ROOM AND BIRTHCENTER, TWO WALK-IN FASTCARE RETAIL CLINICS, A SKYWAY CLINIC IN DOWNTOWN ROCHESTER, AND 11 COMMUNITY BRANCH CLINICS. IN 2023, OMC HAD 354,344 PATIENT VISITS SERVING 82,081 UNIQUE PATIENTS. (CONTINUED ON SCHEDULE O)THE HOSPITAL PROVIDED CARE FOR 2,657 PATIENT ADMISSIONS RESULTING IN 6,413 PATIENT DAYS INCLUDING 887 BIRTHS.

    Expenses $233,358,386 · Grants $258,481 · Revenue $271,576,611

  • OMC WELCOMES ITS MANY OPPORTUNITIES TO BE AN ACTIVE, CONTRIBUTING PARTNER TO SOUTHEASTERN MINNESOTA'S HEALTH AND WELLNESS EFFORTS. AS A 501(C)(3) NON-PROFIT ORGANIZATION, OMC ACTIVELY SUPPORTS SOUTHEASTERN MINNESOTA'S HEALTH AND WELLNESS EFFORTS THROUGH THE CONTRIBUTION OF STAFF TIME/TALENT, IN-KIND RESOURCES, AND FINANCIAL ASSISTANCE. IN 2023, OUR COMMUNITY CONTRIBUTIONS MADE UP 29.93% OF OUR ANNUAL OPERATING EXPENSE - MORE THAN $79,786,000 IN SUPPORT OF OUR COMMITMENT TO BE AN ACTIVE, CONTRIBUTING PARTNER IN THE COMMUNITIES WE SERVE. ANOTHER WAY OMC ACTIVELY SUPPORTS COMMUNITY HEALTH IS THROUGH ITS PARTNERSHIP WITH MAYO CLINIC, OLMSTED COUNTY PUBLIC HEALTH, AND SEVERAL OTHER COMMUNITY-SERVICE ORGANIZATIONS AS TOGETHER WE IMPLEMENTED (CONTINUED ON SCHEDULE O)THE YEAR-THREE ACTION PLAN BASED ON OUR COLLABORATIVE COMMUNITY HEALTH NEEDS ASSESSMENT (CHNA). OVER THE PAST YEAR, WE CONTINUED TO MAKE IT EASIER FOR COMMUNITY MEMBERS TO DONATE THEIR TIME AND TALENT TO OMC. IN ADDITION TO ADDING AN ONLINE VOLUNTEER APPLICATION FORM TO OUR WEBSITE, WE EXPANDED OUR VOLUNTEERS IN PATIENT CARE OPPORTUNITIES LIKE CANINE COMPANIONS AND ESCORT/GREETER ROLES TO HELP PATIENTS NAVIGATE OUR EXPANDING HOSPITAL CAMPUS.

    Expenses $176,549

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

Listed in Part VII

  • MATTHEW KIRSCH MD

    PHYSICIAN

    Total calculated
    $1,182,794
    From this org
    $1,140,560
    From related orgs
    $0
    Other
    $42,234
    Hours/week
    36

    Schedule J breakdown matched by us

    Base
    $1,140,560
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $30,034
    Filer's total
    $1,182,794

  • VIDHAN CHANDRA MD

    PHYSICIAN

    Total calculated
    $1,080,057
    From this org
    $1,065,088
    From related orgs
    $0
    Other
    $14,969
    Hours/week
    36

    Schedule J breakdown matched by us

    Base
    $1,064,538
    Bonus
    $0
    Other
    $550
    Deferred
    $12,200
    Nontaxable benefits
    $2,769
    Filer's total
    $1,080,057

  • SAMER ABDEL-AZIZ MD

    PHYSICIAN

    Total calculated
    $1,072,997
    From this org
    $1,030,524
    From related orgs
    $0
    Other
    $42,473
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,030,524
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $30,273
    Filer's total
    $1,072,997

  • MARK HERR MD

    PHYSICIAN

    Total calculated
    $1,067,178
    From this org
    $1,051,783
    From related orgs
    $0
    Other
    $15,395
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,051,783
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $3,195
    Filer's total
    $1,067,178

  • TIM WEIR FACHE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $976,809
    From this org
    $945,667
    From related orgs
    $0
    Other
    $31,142
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $726,809
    Bonus
    $218,858
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $18,942
    Filer's total
    $976,809

  • SRDAN BABOVIC MD

    PHYSICIAN

    Total calculated
    $966,089
    From this org
    $951,501
    From related orgs
    $0
    Other
    $14,588
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $951,001
    Bonus
    $0
    Other
    $500
    Deferred
    $12,200
    Nontaxable benefits
    $2,388
    Filer's total
    $966,089

  • JAMES HOFFMANN DO

    PRESIDENT

    Total calculated
    $677,747
    From this org
    $645,762
    From related orgs
    $0
    Other
    $31,985
    Hours/week
    32 + 1 related

    Schedule J breakdown matched by us

    Base
    $535,333
    Bonus
    $109,429
    Other
    $1,000
    Deferred
    $12,200
    Nontaxable benefits
    $19,785
    Filer's total
    $677,747

  • KEVIN HIGGINS

    CHIEF FINANCIAL OFFICER

    Total calculated
    $629,607
    From this org
    $578,825
    From related orgs
    $0
    Other
    $50,782
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $454,823
    Bonus
    $107,271
    Other
    $16,731
    Deferred
    $12,200
    Nontaxable benefits
    $38,582
    Filer's total
    $629,607

  • TAMARA ALEXANDROV MD

    CLINIC TRUSTEE

    Total calculated
    $506,043
    From this org
    $493,641
    From related orgs
    $0
    Other
    $12,402
    Hours/week
    37.2

    Schedule J breakdown matched by us

    Base
    $493,441
    Bonus
    $0
    Other
    $200
    Deferred
    $12,200
    Nontaxable benefits
    $202
    Filer's total
    $506,043

  • KEITH KLEIS MD

    CLINIC TRUSTEE

    Total calculated
    $445,349
    From this org
    $403,115
    From related orgs
    $0
    Other
    $42,234
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $403,115
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $30,034
    Filer's total
    $445,349

  • MARAL KENDARIAN MD

    CLINIC TRUSTEE

    Total calculated
    $406,430
    From this org
    $391,807
    From related orgs
    $0
    Other
    $14,623
    Hours/week
    34

    Schedule J breakdown matched by us

    Base
    $391,807
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $2,423
    Filer's total
    $406,430

  • MARK WILBUR MD CHIEF

    MEDICAL OFFICER (STARTING JULY 2023)

    Total calculated
    $401,111
    From this org
    $385,476
    From related orgs
    $0
    Other
    $15,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $368,354
    Bonus
    $16,572
    Other
    $550
    Deferred
    $12,200
    Nontaxable benefits
    $3,435
    Filer's total
    $401,111

  • RANDY HEMANN MD CHIEF

    MEDICAL OFFICER (THROUGH JUNE 2023)

    Total calculated
    $399,551
    From this org
    $376,634
    From related orgs
    $0
    Other
    $22,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,186
    Bonus
    $94,448
    Other
    $1,000
    Deferred
    $12,200
    Nontaxable benefits
    $10,717
    Filer's total
    $399,551

  • MIKE MALUGANI

    PUBLIC TRUSTEE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL TUOHY

    PUBLIC TRUSTEE-CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • CASSIE HARRINGTON

    PUBLIC TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CAROLE NISTLER MD

    PUBLIC TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WENDY SHANNON

    PUBLIC TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DON SUPALLA

    PUBLIC TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • CORENIA WALZ

    PUBLIC TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 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

  • 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 4B
OLMSTED MEDICAL CENTER HAS A 457 (F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN FOR CERTAIN INDIVIDUALS IN LEADERSHIP POSITIONS. DURING 2023, THE EMPLOYEES EARNED A N0N-VESTED CONTRIBUTION. SAID CONTRIBUTION WILL VEST WHEN THE PARTICIPANTS HAVE MET THE VESTING QUALIFICATIONS, AT WHICH TIME THE AMOUNT WILL BECOME TAXABLE TO THE EMPLOYEE. THE AMOUNT, NET OF TAXES, WILL RESIDE IN THE EMPLOYEE'S VESTED ACCOUNT UNTIL THE EMPLOYEE'S RETIREMENT OR DEPARTURE FROM THE ORGANIZATION. THE FOLLOWING AMOUNTS WERE EARNED IN 2023. THE VESTING YEAR IS SHOWN BELOW. TIM WEIR - $92,300 (2027) KEVIN HIGGINS - $41,499 (2027) DR. JAMES HOFFMANN - $46,150 (2024) DR. MARK WILBUR - $7,327 (2027)

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

  • OMC REGIONAL FOUNDATION

    $258,481

    PROVIDE FUNDING TO OMC REGIONAL FOUNDATION FOR HEALTHCARE EDUCATION AND COMMUNITY PURPOSES.

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.

  • OMC REGIONAL FOUNDATION

    501(C)(3) · HEALTHCARE EDUCATION AND COMMUNITY PURPOSES · MN · controlled entity

    Directly controlled by OLMSTED 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.

  • OMC RETAIL SERVICES LLC

    PHARMACY · MN · income $10,977,590 · assets $1,110,085

    Directly controlled by OLMSTED MEDICAL CENTER

Provenance

Return type
form_990
Tax year
2023
Filed
26 September 2024
IRS schema version
2023v5.1
Source object
202402749349301335

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