Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $50,146,099

• 1e · Government grants (contributions)

  $37,832,459

• 1f · All other contributions, gifts and grants

  $397,754

• 2a · Program service revenue: NET PATIENT REVENUE

  total $1,038,280,172 · related or exempt $1,038,280,172

• 2b · Program service revenue: REFERENCE LABORATORY SERVICES

  total $29,773,019 · related or exempt $19,420,171 · unrelated business $10,352,848

• 2c · Program service revenue: SUBS & JOINT VENTURES

  total $15,927,164 · related or exempt $16,454,550 · unrelated business -$527,386

• 2d · Program service revenue: MGMT & SUPPORT SVCS

  total $13,999,775 · related or exempt $13,999,775

• 2e · Program service revenue: RETAIL PHARMACY REVENUE

  total $9,451,583 · related or exempt $9,242,950 · unrelated business $208,633

• 2f · All other program service revenue

  total $1,204,334 · related or exempt $1,204,334

• 3 · Investment income

  total $20,904,953 · related or exempt $1,459,903 · excluded $19,445,050

• 7a · Gross sales of assets other than inventory

  securities $72,204,712 · other assets $219,924

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

  securities $67,913,882 · other assets $170,663

• 7c · Gain or loss

  securities $4,290,830 · other assets $49,261

• 7d · Net gain or loss

  total $4,340,091 · excluded $4,340,091

• 11a · Other revenue: MISCELLANEOUS

  total $2,537,194 · related or exempt $2,537,194

• 11b · Other revenue: CHILDCARE AND ADULTCARE SERVICES

  total $1,603,119 · excluded $1,603,119

• 11c · Other revenue: SHARED SAVINGS REVENUE

  total $715,614 · related or exempt $715,614

• 11d · All other revenue

  total $105,643 · unrelated business $11,466 · excluded $94,177

• 11e · Other revenue, total

  $4,961,570

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $46,037,070 · program services $46,037,070

• 2 · Grants to domestic individuals

  total $119,216 · program services $119,216

• 5 · Compensation of officers, directors and key employees

  total $5,846,765 · management and general $5,846,765

• 6 · Compensation of disqualified persons

  total $538,526 · management and general $538,526

• 7 · Other salaries and wages

  total $488,212,075 · program services $449,342,149 · management and general $38,869,926

• 8 · Pension plan contributions

  total $15,529,694 · program services $14,293,268 · management and general $1,236,426

• 9 · Other employee benefits

  total $51,671,386 · program services $47,557,470 · management and general $4,113,916

• 10 · Payroll taxes

  total $27,465,100 · program services $25,278,414 · management and general $2,186,686

• 11a · Fees: management

  total $92,478,929 · program services $92,478,924 · management and general $5

• 11b · Fees: legal

  total $2,693,012 · program services $43,051 · management and general $2,649,961

• 11c · Fees: accounting

  total $1,495 · program services $1,495

• 11f · Fees: investment management

  total $3,427,962 · program services $955,616 · management and general $2,472,346

• 11g · Fees: other

  total $68,231,279 · program services $59,733,906 · management and general $8,497,373

• 12 · Advertising and promotion

  total $467,036 · program services $14,886 · management and general $452,150

• 13 · Office expenses

  total $3,939,074 · program services $2,899,897 · management and general $1,039,177

• 14 · Information technology

  total $2,433,257 · program services $2,433,257

• 16 · Occupancy

  total $24,607,296 · program services $22,814,187 · management and general $1,793,109

• 17 · Travel

  total $944,677 · program services $802,918 · management and general $141,759

• 19 · Conferences, conventions and meetings

  total $666,509 · program services $289,877 · management and general $376,632

• 20 · Interest

  total $6,904,516 · program services $6,904,516

• 22 · Depreciation, depletion and amortization

  total $29,054,293 · program services $26,839,226 · management and general $2,215,067

• 23 · Insurance

  total $11,135,694 · program services $11,113,058 · management and general $22,636

• 24a · Other expenses: MEDICAL SUPPLIES

  total $210,654,315 · program services $210,253,299 · management and general $401,016

• 24b · Other expenses: MISCELLANEOUS EXPENSE

  total $173,998 · program services -$66,739 · management and general $240,737

• 24c · Other expenses: BAD DEBT EXPENSE

  total $25,288 · program services $25,288

• 24d · Other expenses: INCOME TAXES

  total -$239,694 · program services $15,513 · management and general -$255,207

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,000,384 · end of year $24,328,334

• 2 · Savings and temporary cash investments

  beginning of year $10,926,223 · end of year $19,428,149

• 4 · Accounts receivable

  beginning of year $132,982,532 · end of year $143,383,712

• 7 · Other notes and loans receivable

  beginning of year $66,227,631 · end of year $114,810,233

• 8 · Inventories for sale or use

  beginning of year $18,479,086 · end of year $19,922,521

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,750,636 · end of year $3,259,124

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

  $999,370,618

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

  $677,248,335

• 10c · Land, buildings and equipment, net

  beginning of year $303,462,531 · end of year $322,122,283

• 11 · Investments: publicly traded securities

  beginning of year $751,484,468 · end of year $812,225,673

• 13 · Investments: program-related

  beginning of year $62,827,088 · end of year $70,160,575

• 14 · Intangible assets

  beginning of year $289,165 · end of year $285,705

• 15 · Other assets

  beginning of year $21,379,417 · end of year $18,660,620

• 17 · Accounts payable and accrued expenses

  beginning of year $84,479,463 · end of year $76,121,972

• 19 · Deferred revenue

  beginning of year $1,971,470 · end of year $1,185,060

• 23 · Secured mortgages and notes payable

  beginning of year $1,152,904 · end of year $879,610

• 24 · Unsecured notes and loans payable

  beginning of year $4,295,662 · end of year $1,226,406

• 25 · Other liabilities

  beginning of year $216,055,554 · end of year $208,265,840

• 27 · Net assets without donor restrictions

  beginning of year $1,027,223,618 · end of year $1,203,245,942

• 28 · Net assets with donor restrictions

  beginning of year $50,630,490 · end of year $57,662,099

The filer's explanations (Part III)

PART I, LINES 4A-B

SEVERANCE PAYMENTS: THE FOLLOWING INDIVIDUAL(S) RECEIVED SEVERANCE PAYMENTS DURING THE YEAR THAT WERE INCLUDED IN THEIR TAXABLE INCOME: KEVIN CARROLL $194,602, AND ERIC LOTHE $435,095. NONQUALIFIED RETIREMENT PLAN CONTRIBUTIONS: THE FOLLOWING INDIVIDUAL(S) PARTICIPATED IN AND RECEIVED CONTRIBUTIONS IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: DENISE CUNDY $31,436, JOYCE MCDANEL $58,661, THOMAS MULROONEY $46,141 AND DAVID STARK $51,076. NONQUALIFIED RETIREMENT PLAN DISTRIBUTIONS: THE FOLLOWING INDIVIDUAL(S) PARTICIPATED IN AND RECEIVED PAYMENTS FROM A SUPPLEMENTAL NON-QUALIFIED PLAN: ERIC LOTHE $574,615. PAYOUTS ARE MADE WITH VESTED FUNDS, AS ESTABLISHED BY PLAN DOCUMENTS.

SCHEDULE J, PART I, LINE 3 - ESTABLISHING COMPENSATION

THE EXECUTIVE COMMITTEE OF THE IOWA HEALTH SYSTEM BOARD OF DIRECTORS ("COMMITTEE") CONDUCTS A COMPREHENSIVE REVIEW OF ALL COMPENSATION AND BENEFITS PROVIDED TO THE ORGANIZATION'S OFFICERS AND KEY EMPLOYEES, INCLUDING THE IHS CHIEF EXECUTIVE OFFICER (THE "CEO"). THIS REVIEW COMPARES THE TOTAL COMPENSATION AND VALUE OF BENEFITS PROVIDED TO EACH EXECUTIVE, ON A POSITION BY POSITION BASIS, TO THAT PROVIDED TO FUNCTIONALLY SIMILAR POSITIONS IN SIMILARLY SITUATED ORGANIZATIONS. THIS REVIEW IS CONDUCTED BY THE COMMITTEE WITH THE ASSISTANCE OF A NATIONAL, INDEPENDENT COMPENSATION CONSULTANT REPORTING DIRECTLY TO THE COMMITTEE. THE COMMITTEE HAS BEEN DELEGATED THE RESPONSIBILITY FOR OVERSIGHT OF EXECUTIVE COMPENSATION AND IS MADE UP ENTIRELY OF INDEPENDENT DIRECTORS WITHIN THE MEANING OF THE "REBUTTABLE PRESUMPTION OF REASONABLENESS" UNDER THE FEDERAL INCOME TAX INTERMEDIATE SANCTIONS RULES. THE COMPENSATION CONSULTANT HOLDS ITSELF OUT TO THE PUBLIC AS A COMPENSATION CONSULTANT, PERFORMS THESE VALUATIONS ON A REGULAR BASIS, IS QUALIFIED TO MAKE THE VALUATIONS OF THE SERVICES INVOLVED, AND HAS SO INDICATED IN A WRITTEN CERTIFICATION TO THE COMMITTEE. BASED UPON THE ADVICE OF THE COMPENSATION CONSULTANT, AND APPLYING THE BOARD'S COMPENSATION PHILOSOPHY, THE COMMITTEE ESTABLISHES THE OVERALL ADJUSTMENT IN COMPENSATION AND BENEFITS FOR THE TOP EXECUTIVES IN THE ENTIRE HEALTH SYSTEM (SEVERAL OF WHICH ARE EMPLOYEES OF THE FILING ORGANIZATION) AND DELEGATES TO THE CEO THE AUTHORITY TO MAKE ADJUSTMENTS, CONSISTENT WITH THE COMMITTEE'S DIRECTION, FOR THE OTHER EXECUTIVES. THE COMMITTEE DETERMINES ALL ASPECTS OF THE COMPENSATION AND BENEFITS OF THE CEO. THE COMMITTEE INTENTIONALLY TAKES ALL THE STEPS NECESSARY TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE FEDERAL INCOME TAX LAW INTERMEDIATE SANCTIONS RULES, INCLUDING CONTEMPORANEOUS SUBSTANTIATION OF ALL COMMITTEE MEETINGS AND ACTIONS. THE ORGANIZATION BELIEVES IT IS IN FULL COMPLIANCE WITH SECTION 4958 OF THE IRC, PROVIDES NO MORE THAN REASONABLE AND FAIR MARKET VALUE COMPENSATION AND BENEFITS FOR ITS EMPLOYEES AND DOES NOT PROVIDE ANY EXCESS COMPENSATION OR BENEFITS AS PROHIBITED BY SECTION 4958.

Disregarded entities

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

• YOUNKER REHABILITATION THERAPY SERVICES LLC

  REHABILITATION THERAPY SERVICES · IA · income $4,889,895 · assets $4,694,561

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

Related partnerships

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

• ADVANCED IMAGING CENTER LLC

  DIAGNOSTIC RADIOLOGY CENTER · IA · general or managing partner

• ANKENY MEDICAL PARK SURGERY CENTER LC

  RELATED · AMBULATORY SURGERY CENTER · IA · 45% owned · share of income $3,267,685 · share of assets $4,960,431 · general or managing partner

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

• CENTRAL IOWA PHYSIO LLC

  PHYSICAL THERAPY SERVICES · IA · general or managing partner

• DUBUQUE ENDOSCOPY CENTER LC

  AMBULATORY SURGERY CENTER · IA · general or managing partner

• EASTERN IOWA SLEEP SUPPLY LLC

  MEDICAL EQUIPMENT RETAIL SALES · IA · general or managing partner

• HEALTH CARE AFFILIATES OF THE TRI-STATES LLC

  PROVIDE ACCESS TO LICENSED SOFTWARE · IA · general or managing partner

• IOWA DIAGNOSTIC IMAGING AND PROCEDURE CENTER LC

  RELATED · OUTPATIENT DIAGNOSTIC IMAGING · IA · 50% owned · share of income $2,771,142 · share of assets $5,064,703 · general or managing partner

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

• IOWA HEALTH SYSTEM CONTRACTING SERVICES LC

  GROUP PURCHASING · IA · general or managing partner

• LAKEVIEW SURGERY CENTER LC

  RELATED · SURGERY CENTER · IA · 50% owned · share of income $6,103,525 · share of assets $6,636,513 · general or managing partner

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

• MR ASSOCIATES LLP

  OWN AND OPERATE MR UNIT · IA · general or managing partner

• ORTHOPAEDIC OUTPATIENT SURGERY CENTER LC

  RELATED · AMBULATORY SURGERY CENTER · IA · 50% owned · share of income $4,832,356 · share of assets $6,354,167 · general or managing partner

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

• THE OUTPATIENT SURGERY CENTER OF CEDAR RAPIDS LLC

  AMBULATORY SURGERY CENTER. · IA · general or managing partner

• UNITED MEDICAL PARK ASC LLC DBA THE SURGERY CENTER AT UNITED MEDICAL PARK

  AMBULATORY SURGERY CENTER · IA · general or managing partner

• UPHT-SCA HOLDINGS LLC

  AMBULATORY SURGERY CENTER INVESTMENT · DE

• WEST LAKES SLEEP CENTER LLC

  RELATED · SLEEP DISORDER DIAGNOSTIC TESTING FACILITY · IA · 50% owned · share of income $12,635 · share of assets $254,094 · general or managing partner

  Directly controlled by CENTRAL IOWA HOSPITAL CORPORATION

Related corporations and trusts

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

• ABBE MANAGEMENT CORPORATION

  C · MANAGEMENT SERVICES · IA

• BROADBAND INC

  C · INFORMATION TECHNOLOGY MGMT. · IA

• DELHI POINT CONDO ASSOCIATION

  C · REAL ESTATE MANAGEMENT · IA

• HCP CORPORATION

  C · REAL ESTATE RENTAL · WI

• HANSEN CHARITABLE REMAINDER ANNUITY TRUST

  T · INVESTMENT · IA

• HANSEN CHARITABLE REMAINDER UNITRUST

  T · INVESTMENT · IA

• HEALTH ADVANTAGE PLUS INC

  C · PHYSICAL THERAPY · IA

• HNC SERVICES

  C · FIBER OPTIC NETWORK SERVICES · IA

• MEDIMORE INC

  C · MANAGED CARE · IA

• MERITER HEALTH ENTERPRISES INC

  C · MANAGEMENT SERVICES · WI

• MERITER MANAGEMENT SERVICES INC

  C · ADMINISTRATIVE SERVICES · WI

• PRECEDENCE INC

  C · MANAGED MENTAL CARE · IA

• PRECEDENCE PLUS INC

  C · MANAGED MENTAL CARE · IA

• STL HEALTH RESOURCES CO

  C · PHYSICIAN OFFICE RENTAL · IA

• TRINITY HEALTH ENTERPRISES INC

  C · RETAIL PHARMACY · IL