Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $73,868

• 2a · Program service revenue: INTERCOMPANY REVENUE

  total $336,299,361 · related or exempt $336,299,361

• 2b · Program service revenue: CONTRACT REVENUE

  total $311,865 · related or exempt $311,865

• 3 · Investment income

  total $12,561,287 · excluded $12,561,287

• 7a · Gross sales of assets other than inventory

  securities $52,846,673 · other assets $7,809,052

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

  securities $46,773,541 · other assets $6,550,574

• 7c · Gain or loss

  securities $6,073,132 · other assets $1,258,478

• 7d · Net gain or loss

  total $7,331,610 · related or exempt $1,258,478 · excluded $6,073,132

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $601,302 · program services $601,302

• 2 · Grants to domestic individuals

  total $66,232 · program services $66,232

• 5 · Compensation of officers, directors and key employees

  total $9,508,200 · management and general $9,508,200

• 7 · Other salaries and wages

  total $116,806,362 · program services $113,683,106 · management and general $3,123,256

• 8 · Pension plan contributions

  total $3,620,175 · program services $3,258,157 · management and general $362,018

• 9 · Other employee benefits

  total $21,928,572 · program services $19,735,715 · management and general $2,192,857

• 10 · Payroll taxes

  total $8,544,565 · program services $7,690,108 · management and general $854,457

• 11b · Fees: legal

  total $2,729,472 · program services $2,456,525 · management and general $272,947

• 11c · Fees: accounting

  total $701,173 · program services $631,056 · management and general $70,117

• 11f · Fees: investment management

  total $466,820 · program services $420,138 · management and general $46,682

• 11g · Fees: other

  total $50,055,470 · program services $45,049,923 · management and general $5,005,547

• 12 · Advertising and promotion

  total $2,428,849 · program services $2,185,964 · management and general $242,885

• 13 · Office expenses

  total $2,948,633 · program services $2,653,770 · management and general $294,863

• 14 · Information technology

  total $65,674,320 · program services $59,106,888 · management and general $6,567,432

• 16 · Occupancy

  total $3,721,142 · program services $3,349,028 · management and general $372,114

• 17 · Travel

  total $1,787,487 · program services $1,608,738 · management and general $178,749

• 19 · Conferences, conventions and meetings

  total $22,498 · program services $20,248 · management and general $2,250

• 20 · Interest

  total $12,329,518 · program services $11,096,566 · management and general $1,232,952

• 22 · Depreciation, depletion and amortization

  total $26,033,580 · program services $23,430,222 · management and general $2,603,358

• 23 · Insurance

  total $6,438,256 · program services $5,794,430 · management and general $643,826

• 24a · Other expenses: DUES, SUBS., LICENSES

  total $1,045,098 · program services $940,588 · management and general $104,510

• 24b · Other expenses: EXCISE TAX AND PPT

  total $908,379 · program services $817,541 · management and general $90,838

• 24c · Other expenses: RECRUITMENT EXPENSES

  total $402,096 · program services $361,886 · management and general $40,210

• 24d · Other expenses: EQUIPMENT EXPENSES

  total $147,298 · program services $132,568 · management and general $14,730

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $27,494,867 · end of year $14,422,818

• 2 · Savings and temporary cash investments

  beginning of year $1,001,864 · end of year $123,049,219

• 4 · Accounts receivable

  beginning of year $15,453,635 · end of year $33,497,543

• 7 · Other notes and loans receivable

  beginning of year $53,274,225 · end of year $53,274,225

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $1,879

• 9 · Prepaid expenses and deferred charges

  beginning of year $19,409,091 · end of year $20,663,866

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

  $221,263,980

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

  $152,915,213

• 10c · Land, buildings and equipment, net

  beginning of year $93,260,548 · end of year $68,348,767

• 11 · Investments: publicly traded securities

  beginning of year $102,590,560 · end of year $107,569,023

• 12 · Investments: other securities

  beginning of year $146,880,752 · end of year $100,137,726

• 13 · Investments: program-related

  beginning of year $146,074,693 · end of year $165,869,693

• 15 · Other assets

  beginning of year $781,445 · end of year $633,214

• 17 · Accounts payable and accrued expenses

  beginning of year $1,966,939,312 · end of year $126,958,292

• 19 · Deferred revenue

  beginning of year $32,999 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $50,000,000 · end of year $169,362,853

• 25 · Other liabilities

  beginning of year $603,013 · end of year $437,358

• 27 · Net assets without donor restrictions

  beginning of year -$1,411,353,644 · end of year $390,709,470

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION MAY OCCASIONALLY REIMBURSE OR PROVIDE A HOUSING ALLOWANCE FOR KEY EXECUTIVES IN ORDER TO ASSIST WITH RELOCATING TO THE AREA. THE ORGANIZATION MAY ALSO CONTRIBUTE TO OR REIMBURSE FOR HEALTH AND SOCIAL CLUB DUES AS DEEMED NECESSARY IN ORDER TO SUPPORT A BUSINESS NEED.

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 2023, SUSAN TURNEY, MD RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $614,466, WILLIAM MELMS, MD RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $610,615, AND CATHY BUKOWSKI RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $82,431. 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 - $275,424 THE FOLLOWING INDIVIDUALS PARTICATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN BUT DID NOT RECEIVE A DISTRIBUTION OR HAVE AN AMOUNT VEST IN THE PLAN. UNDER THE PLAN, AMOUNTS DO NOT VEST UNTIL TWO YEARS AFTER SEPARATION FROM THE ORGANIZATION: SUMITHRA TIRUNAGARAM, MD WILLIAM MELMS, MD ALPA SHAH, MD EDWARD FERNANDEZ, MD KRISTA HOGLUND JERARD JENSEN TERRI NEWMIER TYLER DAHL, MD ELVIS PETER, MD PATRICK WOLF, DO JOHN NEAL, MD DAVID JUNKER, MD JAYANTH VEDRE, MD KENT RAY, DO BARBARA BOYER, MD MATTHEW THOMAS, MD MATTHEW OELSTROM, MD BART ISAACSON, MD BRIAN HOERNMAN, MD CATHY BUKOWSKI SAMANTHA KLEBE, DO

PART I, LINE 7

SEVERAL INDIVIDUALS MAY RECEIVE INCENTIVE COMPENSATION BASED ON A VARIETY OF FACTORS, INCLUDING NOT ONLY FINANCIAL MEASURES SUCH AS REVENUE GROWTH OR EARNINGS, BUT ALSO QUALITY, SERVICE, MARKET EXPANSION, COMMUNITY & EMPLOYEE ENGAGEMENT, AND OTHER OUTCOMES OR EXPECTATIONS SET BY THE BOARD AND/OR CEO. ANY PERFORMANCE BONUS IS SUBJECT TO REVIEW BY THE SYSTEM'S INDEPENDENT COMPENSATION COMMITTEE FOR REASONABLENESS.

Related partnerships

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

• THE DIAGNOSTIC & TREATMENT CENTER LLC

  MEDICAL SERVICES · WI