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Nonprofiteer
← GRHS HOLDINGS INC

Form 990 for tax year 2023

Filed by GRHS HOLDINGS INC.

Totals

Total revenue
$8,039,869
Total expenses
$40,248,153
Contributions and grants received
$0
Grants paid
$40,000,000
Program service revenue
$0
Investment income
$8,039,119
Other revenue
$750
Total assets, end of year
$260,663,070
Total liabilities, end of year
$1,066,943
Net assets or fund balances, end of year
$259,596,127
Program services expenses (Part IX)
$40,000,000
Management and general expenses
$248,153
Fundraising expenses
$0
Program service expenses (Part III)
$40,000,000

Program services were 99.4% 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.

  • 3 · Investment income

    total $7,567,288 · excluded $7,567,288

  • 7a · Gross sales of assets other than inventory

    securities $62,043,321

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

    securities $61,571,490

  • 7c · Gain or loss

    securities $471,831

  • 7d · Net gain or loss

    total $471,831 · excluded $471,831

  • 11a · Other revenue: MISCALLANEOUS INCOME

    total $750 · excluded $750

  • 11e · Other revenue, total

    $750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000,000 · program services $40,000,000

  • 11g · Fees: other

    total $248,091 · management and general $248,091

  • 13 · Office expenses

    total $62 · management and general $62

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,067,084 · end of year $2,117,290

  • 11 · Investments: publicly traded securities

    beginning of year $268,408,243 · end of year $257,478,597

  • 15 · Other assets

    beginning of year $1,143,995 · end of year $1,067,183

  • 25 · Other liabilities

    beginning of year $1,143,756 · end of year $1,066,943

  • 27 · Net assets without donor restrictions

    beginning of year $270,475,566 · end of year $259,596,127

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT TO SOUTHEAST IOWA REGIONAL MEDICAL CENTER AND HENRY COUNTY HEALTH CENTER, EACH OF WHICH IS A NON-PROFIT 501(C)(3) ORGANIZATION THAT PROVIDES HEALTH CARE SERVICES TO ALL INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY.

Activities or mission (Part I)

PROVIDE SUPPORT TO SOUTHEAST IOWA REGIONAL MEDICAL CENTER AND HENRY COUNTY MEDICAL CENTER.

  • SUPPORT SOUTHEAST IOWA REGIONAL MEDICAL CENTER AND HENRY COUNTY HEALTH CENTER, EACH OF WHICH IS A NON-PROFIT 501(C)(3) ORGANIZATION.

    Expenses $40,000,000 · Grants $40,000,000

As filed on the 2023 return.

Listed in Part VII

  • Jeremy Alexander

    SECRETARY/TREASURER/CFO

    Total calculated
    $630,528
    From this org
    $0
    From related orgs
    $582,333
    Other
    $48,195
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $556,475 related
    Bonus
    $0 + $24,550 related
    Other
    $0 + $1,308 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $31,695 related
    Filer's total
    $0 + $630,528 related

  • Dr Michael McCoy

    PRESIDENT/CEO

    Total calculated
    $880,902
    From this org
    $0
    From related orgs
    $829,861
    Other
    $51,041
    Hours/week
    24 + 19 related

    Schedule J breakdown matched by us

    Base
    $0 + $751,696 related
    Bonus
    $0 + $56,250 related
    Other
    $0 + $21,915 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $34,541 related
    Filer's total
    $0 + $880,902 related

  • Hope Dunn

    VICE CHAIRMAN

    Total calculated
    $328,296
    From this org
    $0
    From related orgs
    $308,293
    Other
    $20,003
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $294,000 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $4,293 related
    Deferred
    $0 + $4,958 related
    Nontaxable benefits
    $0 + $15,045 related
    Filer's total
    $0 + $328,296 related

  • Matt Wenzel

    FORMER PRESIDENT/CEO

    Total calculated
    $1,380,867
    From this org
    $0
    From related orgs
    $1,369,580
    Other
    $11,287
    Hours/week
    24 + 19 related

    Schedule J breakdown matched by us

    Base
    $0 + $326,969 related
    Bonus
    $0
    Other
    $0 + $1,042,611 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,287 related
    Filer's total
    $0 + $1,380,867 related

  • James Kammerer

    FORMER VICE CHAIRMAN

    Total calculated
    $859,410
    From this org
    $0
    From related orgs
    $843,427
    Other
    $15,983
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,041 related
    Bonus
    $0
    Other
    $0 + $619,386 related
    Deferred
    $0 + $11,278 related
    Nontaxable benefits
    $0 + $4,705 related
    Filer's total
    $0 + $859,410 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
DR. MICHAEL MCCOY, HEALTH/SOCIAL CLUB DUES, $74.90. THIS AMOUNT WAS INCLUDED IN TAXABLE COMPENSATION.
PART I, LINE 3
THE COMPENSATION OF THE OFFICERS IS PAID BY AND DETERMINED BY GREAT RIVER HEALTH SYSTEM. THE FOLLOWING WERE USED BY GREAT RIVER HEALTH SYSTEM IN DETERMINING THE OFFICERS COMPENSATION: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. FORM 990 OF OTHER ORGANIZATIONS 4. WRITTEN EMPLOYMENT CONTRACT 5. COMPENSATION SURVEY OR STUDY 6. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4A
MATT WENZEL RECEIVED A SEVERANCE PAYMENT OF $855,096. JAMES KAMMERER RECEIVED A SEVERANCE PAYMENT OF $459,928. THESE AMOUNTS WERE INCLUDED IN W-2 WAGES.

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.

  • SOUTHEAST RENAL DIALYSIS LC

    MEDICAL SERVICES · IA

Related corporations and trusts

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

  • RIVERVIEW SYSTEM LTD

    C · MEDICAL SERVICES · IA

  • GREAT RIVER MEDICAL SERVICES INC

    C · MEDICAL SERVICES · IA

  • MUTUAL CONSULTING AND MANAGEMENT SERVICES

    C · MANAGEMENT SERVICES · IA

  • HERITAGE PARK PHARMACY

    C · PHARMACY · IA

  • HERITAGE MEDICAL EQUIPMENT & SUPPLY

    C · MEDICAL SUPPLY · IA

  • RIGHTCHOICE INC

    C · STAFFING AGENCY · IA

Provenance

Return type
form_990
Tax year
2023
Filed
22 April 2025
IRS schema version
2023v6.0
Source object
202501139349300640

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