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Nonprofiteer
← Mercy Hospital Foundation

Form 990 for tax year 2023

Filed by Mercy Hospital Foundation.

Totals

Total revenue
$1,807,663
Total expenses
$451,223
Contributions and grants received
$34,140
Grants paid
$0
Program service revenue
$0
Investment income
$1,773,523
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$0
Management and general expenses
$451,223
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1f · All other contributions, gifts and grants

    $34,140

  • 3 · Investment income

    total $253,293 · excluded $253,293

  • 7a · Gross sales of assets other than inventory

    securities $21,363,865

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

    securities $19,843,635

  • 7c · Gain or loss

    securities $1,520,230

  • 7d · Net gain or loss

    total $1,520,230 · excluded $1,520,230

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $113,580 · management and general $113,580

  • 7 · Other salaries and wages

    total $21,277 · management and general $21,277

  • 8 · Pension plan contributions

    total $309 · management and general $309

  • 9 · Other employee benefits

    total $6,797 · management and general $6,797

  • 10 · Payroll taxes

    total $9,009 · management and general $9,009

  • 11b · Fees: legal

    total $209,935 · management and general $209,935

  • 12 · Advertising and promotion

    total $2,035 · management and general $2,035

  • 13 · Office expenses

    total $343 · management and general $343

  • 14 · Information technology

    total $20,816 · management and general $20,816

  • 22 · Depreciation, depletion and amortization

    total $1,822 · management and general $1,822

  • 24a · Other expenses: Miscellaneous

    total $65,300 · management and general $65,300

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $150,753 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $146,308 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $2,630 · end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $4,400 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $17,995,687 · end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $37,694 · end of year $0

  • 25 · Other liabilities

    beginning of year $94,182 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $11,870,942 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $6,372,348 · end of year $0

Mission and programs · 2023

Mission

Generate private support for Mercy Hospital, Iowa City ("Mercy"); manage, invest and disburse funds with regard to donor's intentions.

Activities or mission (Part I)

Generate private support for Mercy Hospital, Iowa City and manage, invest and disburse funds.

  • Mercy Hospital Foundation ("The Foundation") supported the operations of Mercy Hospital, Iowa City as it navigated the bankruptcy process.

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

Listed in Part VII

  • Tom Clancy

    CEO & Administrator (End 10/23)

    Total calculated
    $321,021
    From this org
    $0
    From related orgs
    $315,704
    Other
    $5,317
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $315,704 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,317 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $321,021 related

  • Kim Volk

    Board Member (Beg 10/23)

    Total calculated
    $286,063
    From this org
    $0
    From related orgs
    $251,722
    Other
    $34,341
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,451 related
    Bonus
    $0
    Other
    $0 + $271 related
    Deferred
    $0 + $10,494 related
    Nontaxable benefits
    $0 + $23,847 related
    Filer's total
    $0 + $286,063 related

  • Lisa Steigleder

    President

    Total calculated
    $205,135
    From this org
    $0
    From related orgs
    $172,486
    Other
    $32,649
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $172,206 related
    Bonus
    $0
    Other
    $0 + $280 related
    Deferred
    $0 + $3,500 related
    Nontaxable benefits
    $0 + $29,149 related
    Filer's total
    $0 + $205,135 related

  • Denice Connell

    Board Member/Treasurer (Beg 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Jim Porter

    Treasurer (End 10/23)

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • Steven Anderson

    Chair (Beg 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Todd Jacobson

    Secretary (Beg 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Tor Nicklaus

    Secretary/Chair-Elect (Beg 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Ann Perino

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kim Casko

    Board Member (End 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Lynn Skopec

    Chair (End 10/23)/Board Member

    Total calculated
    $0
    Hours/week
    1

  • Patricia Heiden

    Board Member (End 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Scott Fisher

    Board Member (End 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Stephen Scheckel

    Board Member (End 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Dawna Miller

    Treasurer

    Total calculated
    $122,216
    From this org
    $0
    From related orgs
    $122,216
    Other
    $0
    Hours/week
    1 + 41 related

  • Stuart Elkin

    Asst. Treas. (End 5/23)

    Total calculated
    $94,046
    From this org
    $0
    From related orgs
    $86,167
    Other
    $7,879
    Hours/week
    1 + 40 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

  • 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 3
The Foundation relied on Mercy Hospital, a related organization, to establish the compensation of the Foundation's top management official. Mercy Hospital used the following methods to establish compensation for the Foundation President: - Compensation Committee - Independent Compensation Consultant - Form 990 of Other Organizations - Compensation Survey or Study - Approval by the Board or Compensation Committee
Part I, Line 4a
During 2023, Dawna Miller received a severance payment in the amount of $122,216

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

No itemized grants to organizations 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.

Related corporations and trusts

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
16 December 2024
IRS schema version
2023v5.1
Source object
202443519349300224

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