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Nonprofiteer
← SOUTHEAST IOWA REGIONAL MEDICAL CENTER INC

Form 990 for tax year 2023

Filed by SOUTHEAST IOWA REGIONAL MEDICAL CENTER INC.

Totals

Total revenue
$438,248,210
Total expenses
$422,817,322
Contributions and grants received
$42,106,850
Grants paid
$22,991,999
Program service revenue
$394,108,263
Investment income
$520,415
Other revenue
$1,512,682
Total assets, end of year
$266,109,032
Total liabilities, end of year
$88,812,899
Net assets or fund balances, end of year
$177,296,133
Program services expenses (Part IX)
$401,049,036
Management and general expenses
$21,768,286
Fundraising expenses
$0
Program service expenses (Part III)
$401,049,036

Program services were 94.9% 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

    $40,094,913

  • 1f · All other contributions, gifts and grants

    $2,011,937

  • 2a · Program service revenue: PATIENT SERVICE INCOME

    total $368,617,299 · related or exempt $368,617,299

  • 2b · Program service revenue: OTHER OPERATING INCOME

    total $24,991,342 · related or exempt $24,950,111 · unrelated business $41,231

  • 2c · Program service revenue: PARTNERSHIP INCOME

    total $499,622 · related or exempt $499,622

  • 3 · Investment income

    total $538,582 · excluded $538,582

  • 6a · Gross rents

    real property $1,159,186

  • 6b · Less rental expenses

    real property $636,254

  • 6c · Rental income or loss

    real property $522,932

  • 6d · Net rental income or loss

    total $522,932 · unrelated business $51,857 · excluded $471,075

  • 7a · Gross sales of assets other than inventory

    other assets $26,000

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

    other assets $44,167

  • 7c · Gain or loss

    other assets -$18,167

  • 7d · Net gain or loss

    total -$18,167 · excluded -$18,167

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $989,750 · excluded $989,750

  • 11e · Other revenue, total

    $989,750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,842,453 · program services $14,842,453

  • 2 · Grants to domestic individuals

    total $8,149,546 · program services $8,149,546

  • 5 · Compensation of officers, directors and key employees

    total $4,357,866 · management and general $4,357,866

  • 7 · Other salaries and wages

    total $151,798,329 · program services $151,592,086 · management and general $206,243

  • 8 · Pension plan contributions

    total $5,245,843 · program services $5,200,981 · management and general $44,862

  • 9 · Other employee benefits

    total $15,813,811 · program services $15,627,223 · management and general $186,588

  • 10 · Payroll taxes

    total $9,664,145 · program services $9,649,301 · management and general $14,844

  • 11b · Fees: legal

    total $900,864 · program services $900,864

  • 11c · Fees: accounting

    total $445,383 · program services $445,383

  • 11d · Fees: lobbying

    total $80,082 · management and general $80,082

  • 11g · Fees: other

    total $96,090,523 · program services $95,299,670 · management and general $790,853

  • 13 · Office expenses

    total $1,416,872 · program services $1,403,551 · management and general $13,321

  • 16 · Occupancy

    total $3,889,070 · program services $3,887,498 · management and general $1,572

  • 17 · Travel

    total $427,892 · program services $393,789 · management and general $34,103

  • 20 · Interest

    total $731,809 · program services $36,259 · management and general $695,550

  • 22 · Depreciation, depletion and amortization

    total $13,617,943 · program services $13,009,861 · management and general $608,082

  • 23 · Insurance

    total $4,315,555 · program services $2,142,631 · management and general $2,172,924

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $28,326,208 · program services $28,323,396 · management and general $2,812

  • 24b · Other expenses: DRUGS

    total $24,304,061 · program services $24,598,803 · management and general -$294,742

  • 24c · Other expenses: BAD DEBT

    total $19,413,440 · program services $19,413,440

  • 24d · Other expenses: REPAIRS/MAINTENANCE

    total $3,724,043 · program services $3,722,132 · management and general $1,911

  • 24e · All other expenses

    total $15,261,584 · program services $2,410,169 · management and general $12,851,415

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,968,822 · end of year $1,756,226

  • 2 · Savings and temporary cash investments

    beginning of year $15,879,957 · end of year $8,228,629

  • 4 · Accounts receivable

    beginning of year $36,199,908 · end of year $57,053,055

  • 7 · Other notes and loans receivable

    beginning of year $4,016,575 · end of year $4,774,250

  • 8 · Inventories for sale or use

    beginning of year $2,350,197 · end of year $2,532,266

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,278,579 · end of year $2,515,827

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

    $451,148,539

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

    $289,628,172

  • 10c · Land, buildings and equipment, net

    beginning of year $162,191,289 · end of year $161,520,367

  • 12 · Investments: other securities

    beginning of year $22,944,537 · end of year $24,169,650

  • 13 · Investments: program-related

    beginning of year $3,284,900 · end of year $3,254,521

  • 14 · Intangible assets

    beginning of year $224,712

  • 15 · Other assets

    beginning of year $1,475,821 · end of year $304,241

  • 17 · Accounts payable and accrued expenses

    beginning of year $28,895,504 · end of year $29,317,857

  • 19 · Deferred revenue

    beginning of year $135,211 · end of year $41,325

  • 20 · Tax-exempt bond liabilities

    beginning of year $26,665,551 · end of year $20,025,677

  • 25 · Other liabilities

    beginning of year $35,350,437 · end of year $39,428,040

  • 27 · Net assets without donor restrictions

    beginning of year $151,262,966 · end of year $167,575,094

  • 28 · Net assets with donor restrictions

    beginning of year $10,505,628 · end of year $9,721,039

Mission and programs · 2023

Mission

SOUTHEAST IOWA REGIONAL MEDICAL CENTER IS DEDICATED TO IMPROVING THE REGION'S HEALTH BY PROVIDING HIGH-QUALITY CARE, WORLD-CLASS CUSTOMER SERVICE, AND UNCOMPROMISING VALUE FOR OUR PATIENTS AND THEIR FAMILIES.

Activities or mission (Part I)

IMPROVING THE REGION'S HEALTH BY PROVIDING HIGH-QUALITY HEALTH CARE.

  • SOUTHEAST IOWA REGIONAL MEDICAL CENTER (SIRMC) IS A TWO CAMPUS HOSPITAL. ONE IS LOCATED IN FORT MADISON, IOWA, A 50 BED HOSPITAL AND THE OTHER IS LOCATED IN WEST BURLINGTON, IOWA, IS A 378-BED REGIONAL MEDICAL CENTER OFFERING ACUTE AND INTERMEDIATE CARE TO RESIDENTS OF SOUTHEAST IOWA, WEST CENTRAL ILLINOIS AND NORTHEAST MISSOURI. THE HOSPITAL OFFERS COMPREHENSIVE MEDICAL, EXTENSIVE SURGICAL, AND EMERGENCY CARE SERVICES. DURING FISCAL YEAR ENDING 6/30/24, SIRMC HAD 7,083 PATIENT ADMISSIONS AND 63,837 PATIENT DAYS OF MEDICAL CARE. SIRMC ALSO HAD 415,353 OUTPATIENT VISITS, 45,499 EMERGENCY ROOM VISITS AND 39,321 HOME HEALTH-CARE VISITS. SIRMC PROVIDES MEDICAL SERVICES REGARDLESS OF ABILITY TO PAY AND ACCEPTS MEDICARE AND MEDICAID.THE HOSPITAL'S 160-BED KLEIN CENTER OFFERS LONG-TERM AND SKILLED CARE ON THE HOSPITAL'S CAMPUS. THE CANCER CENTER, WHICH PROVIDES MEDICAL AND RADIATION THERAPY SERVICES FOR THE TREATMENT OF VARIOUS FORMS OF CANCER AND BLOOD DISEASES, OFFERS THE LATEST THREE-DIMENSIONAL TREATMENT-PLANNING COMPUTER TECHNOLOGY AVAILABLE IN ONLY A FEW HEALTH-CARE CENTERS IN THE STATE. THE WELLNESS PLAZA IS HOME TO ONE OF THE STATE'S PREMIER REHABILITATION AND FITNESS PROGRAMS.

    Expenses $401,049,036 · Grants $22,991,999 · Revenue $394,067,032

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

Listed in Part VII

  • 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 + 16 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

  • Louis Kantzavelos

    PHYSICIAN

    Total calculated
    $1,285,090
    From this org
    $1,239,329
    From related orgs
    $0
    Other
    $45,761
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,232,495
    Bonus
    $0
    Other
    $6,834
    Deferred
    $16,500
    Nontaxable benefits
    $29,261
    Filer's total
    $1,285,090

  • Charles Frank

    PHYSICIAN

    Total calculated
    $1,042,600
    From this org
    $1,015,119
    From related orgs
    $0
    Other
    $27,481
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,008,555
    Bonus
    $0
    Other
    $6,564
    Deferred
    $0
    Nontaxable benefits
    $27,481
    Filer's total
    $1,042,600

  • Meghan Wooster

    PHYSICIAN

    Total calculated
    $929,182
    From this org
    $907,449
    From related orgs
    $0
    Other
    $21,733
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $906,303
    Bonus
    $0
    Other
    $1,146
    Deferred
    $8,034
    Nontaxable benefits
    $13,699
    Filer's total
    $929,182

  • Ajmal Muhammad

    PHYSICIAN

    Total calculated
    $920,370
    From this org
    $884,160
    From related orgs
    $0
    Other
    $36,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $880,386
    Bonus
    $0
    Other
    $3,774
    Deferred
    $12,254
    Nontaxable benefits
    $23,956
    Filer's total
    $920,370

  • Brent Woodbury

    PHYSICIAN

    Total calculated
    $908,111
    From this org
    $866,089
    From related orgs
    $0
    Other
    $42,022
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $859,525
    Bonus
    $0
    Other
    $6,564
    Deferred
    $12,008
    Nontaxable benefits
    $30,014
    Filer's total
    $908,111

  • Dr Michael McCoy

    PRESIDENT/CEO

    Total calculated
    $880,902
    From this org
    $0
    From related orgs
    $829,861
    Other
    $51,041
    Hours/week
    24 + 16 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

  • Jeremy Alexander

    CFO

    Total calculated
    $630,528
    From this org
    $0
    From related orgs
    $582,333
    Other
    $48,195
    Hours/week
    40 + 3 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

  • Dave Poland

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Vicki Stephenson

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joy Anderson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Neal Dodd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dr Doug Henrich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Bob Huffman

    DIRECTOR

    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

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

Answered no

  • 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 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. THIS AMOUNT 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

    RELATED · MEDICAL SERVICES · IA · 50% owned · share of income $484,357 · share of assets $3,256,255

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 & 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
202521139349300222

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