Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $314,623

• 1f · All other contributions, gifts and grants

  $5,041,759

• 1g · Noncash contributions included above

  $302,271

• 3 · Investment income

  total $1,706,190 · unrelated business $147 · excluded $1,706,043

• 7a · Gross sales of assets other than inventory

  securities $58,799,813

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

  securities $46,420,527

• 7c · Gain or loss

  securities $12,379,286

• 7d · Net gain or loss

  total $12,379,286 · excluded $12,379,286

• 8a · Fundraising events: gross income

  $255,935

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

  $314,623

• 8b · Fundraising events: direct expenses

  $311,548

• 8c · Net income from fundraising events

  total -$55,613 · excluded -$55,613

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,153,585 · program services $7,153,585

• 11f · Fees: investment management

  total $292,882 · management and general $292,882

• 11g · Fees: other

  total $62,750 · management and general $62,750

• 12 · Advertising and promotion

  total $36,230 · management and general $36,230

• 13 · Office expenses

  total $25,810 · management and general $22,586 · fundraising $3,224

• 14 · Information technology

  total $732 · management and general $732

• 16 · Occupancy

  total $305 · management and general $305

• 17 · Travel

  total $17,559 · fundraising $17,559

• 22 · Depreciation, depletion and amortization

  total $5,203 · management and general $5,203

• 24a · Other expenses: PURCHASED SALARIES

  total $2,026,193 · fundraising $2,026,193

• 24b · Other expenses: FUNDRAISING MATERIALS

  total $12,506 · fundraising $12,506

• 24c · Other expenses: PURCHASED SERVICES

  total $12,273 · management and general $12,273

• 24d · Other expenses: ALL OTHER EXPENSES

  total $522 · management and general $522

• 24e · All other expenses

  total -$2,492,965 · management and general -$433,483 · fundraising -$2,059,482

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,864,897 · end of year $1,563,204

• 3 · Pledges and grants receivable

  beginning of year $6,687,576 · end of year $5,713,217

• 4 · Accounts receivable

  beginning of year $2,447,600 · end of year $10,997

• 11 · Investments: publicly traded securities

  beginning of year $22,333,508 · end of year $25,423,722

• 12 · Investments: other securities

  beginning of year $117,563,923 · end of year $128,478,199

• 15 · Other assets

  beginning of year $80,862 · end of year $85,581

• 17 · Accounts payable and accrued expenses

  beginning of year $115,535 · end of year $1,132,363

• 25 · Other liabilities

  beginning of year $462,026 · end of year $434,698

• 27 · Net assets without donor restrictions

  beginning of year $99,636,249 · end of year $109,057,373

• 28 · Net assets with donor restrictions

  beginning of year $50,764,556 · end of year $50,650,486

The filer's explanations (Part III)

PART I, LINE 3

THE MARSHFIELD CLINIC HEALTH SYSTEM'S (MCHS) INDEPENDENT COMPENSATION COMMITTEE (THE COMMITTEE) HAS FINAL AUTHORITY FOR APPROVING COMPENSATION AND BENEFITS OF ALL DISQUALIFIED PERSONS EMPLOYED BY ANY OF THE ORGANIZATIONS IN THE SYSTEM. THE COMMITTEE USES COMBINATIONS OF THE FOLLOWING TO EVALUATE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE, AND WRITTEN EMPLOYMENT CONTRACTS.

PART I, LINES 4A-B

LINE 4A: IN 2024, SUSAN TURNEY, MD RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $1,879,544, AND CATHY BUKOWSKI RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $631,969. LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN AND RECEIVED A DISTRIBUTION FROM OR HAD AMOUNTS VEST IN THE PLAN: SUSAN TURNEY, MD - $362,171