Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $128,706

• 1e · Government grants (contributions)

  $11,008,979

• 1f · All other contributions, gifts and grants

  $3,511,829

• 2a · Program service revenue: Pharmacy

  total $221,292,597 · related or exempt $215,034,591 · unrelated business $6,258,006

• 2b · Program service revenue: Laboratory

  total $122,882,999 · related or exempt $122,270,739 · unrelated business $612,260

• 2c · Program service revenue: Surgical Services

  total $96,584,311 · related or exempt $96,584,311

• 2d · Program service revenue: MIS CT Scan

  total $45,438,130 · related or exempt $45,438,130

• 2e · Program service revenue: Cardiac Services

  total $20,510,690 · related or exempt $20,510,690

• 2f · All other program service revenue

  total $476,340,507 · related or exempt $475,113,786 · unrelated business $1,226,721

• 3 · Investment income

  total $11,079,598 · excluded $11,079,598

• 4 · Income from investment of tax-exempt bond proceeds

  total $704,420 · excluded $704,420

• 6a · Gross rents

  real property $1,184,447

• 6b · Less rental expenses

  real property $977,928

• 6c · Rental income or loss

  real property $206,519

• 6d · Net rental income or loss

  total $206,519 · excluded $206,519

• 7a · Gross sales of assets other than inventory

  other assets $21,198,115

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

  other assets $0

• 7c · Gain or loss

  other assets $21,198,115

• 7d · Net gain or loss

  total $21,198,115 · excluded $21,198,115

• 8a · Fundraising events: gross income

  $802,780

• 8a · Fundraising events: contributions included on line 1c

  $128,706

• 8b · Fundraising events: direct expenses

  $109,590

• 8c · Net income from fundraising events

  total $693,190 · excluded $693,190

• 10a · Gross sales of inventory

  $277,407

• 10b · Cost of goods sold

  $153,865

• 10c · Net income from sales of inventory

  total $123,542 · related or exempt $123,542

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,512,792 · program services $1,512,792

• 5 · Compensation of officers, directors and key employees

  total $6,030,486 · program services $1,034,422 · management and general $4,996,064

• 6 · Compensation of disqualified persons

  total $386,385 · program services $386,385

• 7 · Other salaries and wages

  total $375,283,553 · program services $308,599,868 · management and general $66,125,422 · fundraising $558,263

• 8 · Pension plan contributions

  total $9,215,264 · program services $7,484,724 · management and general $1,717,062 · fundraising $13,478

• 9 · Other employee benefits

  total $1,525,901 · program services $1,239,351 · management and general $284,318 · fundraising $2,232

• 10 · Payroll taxes

  total $23,604,812 · program services $18,745,093 · management and general $4,821,147 · fundraising $38,572

• 11a · Fees: management

  total $8,918,934 · program services $810,228 · management and general $8,096,206 · fundraising $12,500

• 11b · Fees: legal

  total $1,104,153 · management and general $1,104,153

• 11c · Fees: accounting

  total $372,915 · management and general $372,915

• 11d · Fees: lobbying

  total $42,029 · management and general $42,029

• 11g · Fees: other

  total $140,778,177 · program services $106,982,356 · management and general $33,794,811 · fundraising $1,010

• 12 · Advertising and promotion

  total $1,142,095 · program services $28,441 · management and general $1,093,251 · fundraising $20,403

• 13 · Office expenses

  total $15,935,897 · program services $7,502,333 · management and general $8,104,410 · fundraising $329,154

• 14 · Information technology

  total $23,704,685 · program services $4,475,595 · management and general $19,177,746 · fundraising $51,344

• 16 · Occupancy

  total $30,893,540 · program services $11,300,301 · management and general $19,591,255 · fundraising $1,984

• 17 · Travel

  total $1,893,445 · program services $1,335,647 · management and general $547,949 · fundraising $9,849

• 19 · Conferences, conventions and meetings

  total $1,265,855 · program services $15,088 · management and general $1,250,767

• 20 · Interest

  total $10,490,031 · program services $10,476,107 · management and general $13,924

• 22 · Depreciation, depletion and amortization

  total $55,424,054 · program services $39,664,001 · management and general $15,729,443 · fundraising $30,610

• 23 · Insurance

  total $4,529,201 · program services $877,092 · management and general $3,652,109

• 24a · Other expenses: Medical Supplies

  total $203,517,677 · program services $203,224,335 · management and general $293,057 · fundraising $285

• 24b · Other expenses: Interco Supplies/Servic

  total $65,240,126 · program services $63,851,042 · management and general $1,389,084

• 24c · Other expenses: All other expenses

  total $4,124,977 · program services $598,061 · management and general $3,525,915 · fundraising $1,001

• 24d · Other expenses: UBI Tax

  total $33,006 · management and general $33,006

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $26,082,675 · end of year $52,052,042

• 2 · Savings and temporary cash investments

  beginning of year $31,325,460 · end of year $9,765,128

• 4 · Accounts receivable

  beginning of year $120,275,308 · end of year $133,132,371

• 8 · Inventories for sale or use

  beginning of year $27,397,609 · end of year $28,753,819

• 9 · Prepaid expenses and deferred charges

  beginning of year $13,839,488 · end of year $17,773,530

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

  $960,879,137

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

  $467,210,820

• 10c · Land, buildings and equipment, net

  beginning of year $522,125,485 · end of year $493,668,317

• 11 · Investments: publicly traded securities

  beginning of year $241,276,882 · end of year $312,214,814

• 12 · Investments: other securities

  beginning of year $351,347,903 · end of year $356,323,249

• 14 · Intangible assets

  beginning of year $7,767,722 · end of year $7,223,666

• 15 · Other assets

  beginning of year $13,643,973 · end of year $11,548,088

• 17 · Accounts payable and accrued expenses

  beginning of year $84,891,254 · end of year $94,745,939

• 20 · Tax-exempt bond liabilities

  beginning of year $337,498,000 · end of year $329,259,000

• 23 · Secured mortgages and notes payable

  beginning of year $26,285,258 · end of year $26,285,000

• 25 · Other liabilities

  beginning of year $81,519,719 · end of year $75,105,950

• 27 · Net assets without donor restrictions

  beginning of year $803,564,484 · end of year $870,979,020

• 28 · Net assets with donor restrictions

  beginning of year $21,323,790 · end of year $26,080,115

The filer's explanations (Part III)

Part I, Line 3

The Executive Committee, which is a committee of the Monument Health (parent) Board, reviews and approves base salary and total compensation ranges for all executives within the Monument Health System.

Part I, Line 4b

Monument Health provides a supplemental nonqualified retirement plan and a flexible benefit plan that can include deferred compensation for its executives and physicians. The following individuals had amounts deferred into the account as reported in Schedule J, Column C: Paulette Davidson 209,620 Brad Archer MD 84,592 Patrick Woodard 44,176 Austin Willuweit 13,920 Nicole Kerkenbush 6,342 Barbara Hespen 15,471 John Pierce 59,744 Michael Tilles 17,541 Mark Longacre 15,908 Mark Schulte 14,888 Tasha Frisinger 11,760 Joseph Tuma MD 88,355 Charan Mungara MD 77,280 Bhaskar Purushottam MD 93,580 Siri Knutsen Larson MD 83,145 Kyle Schmidt MD 67,060 Bobbie Schneller MD 21,227 Jacob Weasel MD 31,200 The following individuals had supplemental non-qualified retirement plan amounts included in Schedule J, column B(iii) that were previously reported as deferred compensation on Form 990. These amounts are identified in Schedule J, Column F: Paulette Davidson 176,555 Brad Archer MD 71,687 Mark Thompson 150,096 Austin Willuweit 10,653 Nicole Kerkenbush 27,979 John Pierce 40,877 Michael Tilles 14,887 Mark Longacre 15,177 Mark Schulte 10,981 Joseph Tuma MD 63,266 Bhaskar Purushottam MD 80,441 Siri Knutsen Larson MD 39,556 Bobbie Schneller 16,451 Jacob Weasel MD 14,627

Part I, Line 7

Executives and Other Employees of System Entities will be eligible to receive annual incentive awards that are competitive with the incentives offered by the organizations in the System's Peer group(s) in accordance with the terms of the Monument Health, Inc. Annual Incentive Plan for Selected Executives and Other Employees (Incentive Plan). In accordance with this plan, the parent Board's Executive Committee will review and approve all incentive compensation performance measures and all awards, if any. The committee ensures that the total compensation, including incentive awards, is reasonable.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Monument Health Home Plus LLC

  Healthcare Services · SD · income $131,278,174 · assets $20,428,059

  Directly controlled by Monument Health Rapid City Hospital Inc

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Same Day Surgery Center

  RELATED · Medical Services · SD · 40% owned · share of income $2,416,400 · share of assets $1,764,779 · general or managing partner

  Directly controlled by Monument Health Rapid City Hospital Inc

• Medical & Dental Building

  Investment · Medical Office Bldg · SD · 71.45% owned · share of income $511,146 · share of assets $1,798,292 · general or managing partner

  Directly controlled by Monument Health Rapid City Hospital Inc