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← NORTHEAST IOWA REAL ESTATE INVESTMENTS LTD

Form 990 for tax year 2022

Filed by NORTHEAST IOWA REAL ESTATE INVESTMENTS LTD.

Totals

Total revenue
$138,744
Total expenses
$171,804
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$138,744
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,217,423
Total liabilities, end of year
$36,782
Net assets or fund balances, end of year
$2,180,641
Program services expenses (Part IX)
$171,804
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$171,804

Program services were 100.0% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $138,744 · related or exempt $138,744

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $488 · program services $488

  • 16 · Occupancy

    total $67,884 · program services $67,884

  • 22 · Depreciation, depletion and amortization

    total $103,432 · program services $103,432

Balance sheet

Part X, book values.

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

    $2,301,130

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

    $83,707

  • 10c · Land, buildings and equipment, net

    beginning of year $2,381,306 · end of year $2,217,423

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,684 · end of year $36,782

  • 27 · Net assets without donor restrictions

    beginning of year $2,343,622 · end of year $2,180,641

Mission and programs · 2022

Mission

WE, NORTHEAST IOWA REAL ESTATE INVESTMENTS AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. NORTHEAST IOWA REAL ESTATE INVESTMENTS IS A MEMBER OF TRINITY HEALTH.

Activities or mission (Part I)

TO ACT AS A TITLE HOLDING COMPANY FOR THE BENEFIT OF AFFILIATED TAX-EXEMPT ORGANIZATIONS

  • NORTHEAST IOWA REAL ESTATE INVESTMENTS PROVIDES REAL ESTATE RENTALS FOR THE SUPPORT AND BENEFIT OF AFFILIATED HEALTH CARE INSTITUTIONS SERVING NORTHEAST IOWA.

    Expenses $171,804 · Revenue $138,744

As filed on the 2022 return.

Listed in Part VII

  • ROBERT RITZ

    DIRECTOR; CEO MERCY HEALTH NETWORK

    Total calculated
    $1,988,162
    From this org
    $0
    From related orgs
    $1,923,691
    Other
    $64,471
    Hours/week
    0.5 + 54.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,340,299 related
    Bonus
    $0 + $433,955 related
    Other
    $0 + $149,437 related
    Deferred
    $0 + $27,617 related
    Nontaxable benefits
    $0 + $36,854 related
    Filer's total
    $0 + $1,988,162 related

  • JACK DUSENBERRY

    DIR & PRES, MERCYONE NE IA THR 4/23

    Total calculated
    $750,828
    From this org
    $0
    From related orgs
    $705,049
    Other
    $45,779
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $569,178 related
    Bonus
    $0 + $120,621 related
    Other
    $0 + $15,250 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $27,479 related
    Filer's total
    $0 + $750,828 related

  • RACHELLE MAKINDE MD

    DIRECTOR; PHYSICIAN

    Total calculated
    $495,645
    From this org
    $0
    From related orgs
    $449,922
    Other
    $45,723
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $422,630 related
    Bonus
    $0
    Other
    $0 + $27,292 related
    Deferred
    $0 + $11,458 related
    Nontaxable benefits
    $0 + $34,265 related
    Filer's total
    $0 + $495,645 related

  • BRIAN BURNETT MD

    DIRECTOR; PHYSICIAN

    Total calculated
    $422,818
    From this org
    $0
    From related orgs
    $363,552
    Other
    $59,266
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $362,631 related
    Bonus
    $0
    Other
    $0 + $921 related
    Deferred
    $0 + $22,875 related
    Nontaxable benefits
    $0 + $36,391 related
    Filer's total
    $0 + $422,818 related

  • TIMOTHY HUBER

    ASSISTANT TREASURER; VP OF FINANCE

    Total calculated
    $348,273
    From this org
    $0
    From related orgs
    $288,515
    Other
    $59,758
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,137 related
    Bonus
    $0 + $36,164 related
    Other
    $0 + $5,214 related
    Deferred
    $0 + $22,697 related
    Nontaxable benefits
    $0 + $37,061 related
    Filer's total
    $0 + $348,273 related

  • NANCY SCHAEFER

    ASSISTANT SECRETARY; EXEC ASSISTANT

    Total calculated
    $70,880
    From this org
    $0
    From related orgs
    $65,485
    Other
    $5,395
    Hours/week
    0.5 + 39.5 related

  • DAVID DEAVER

    DIRECTOR; CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • SANDRA BENAK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • TIM BOETTGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • SHIRLEY DUNLAP

    DIRECTOR THROUGH 12/22

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • ALAN KRUGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 related

  • CASEY MCLAUGHLIN

    DIRECTOR THROUGH 12/22

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • GREGORY SCHMITZ

    DIRECTOR THROUGH 12/22

    Total calculated
    $0
    Hours/week
    0.5 + 2.5 related

  • CAROL TOUSLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 3.5 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 3
NORTHEAST IOWA REAL ESTATE INVESTMENTS' PRESIDENT IS PAID DIRECTLY BY A RELATED ENTITY, COVENANT MEDICAL CENTER. COVENANT MEDICAL CENTER USED THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF NORTHEAST IOWA REAL ESTATE INVESTMENTS' PRESIDENT: - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY, AND - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B
DURING THE 2022 CALENDAR YEAR, ROBERT RITZ WAS A PARTICIPANT IN THE COMMONSPIRIT HEALTH SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN EXECUTIVES. DUE TO THE "SUPER" VESTING RULES UNDER THIS PLAN, PARTICIPANTS WHO HAVE MET CERTAIN REQUIREMENTS SUCH AS AGE, OR AGE AND YEARS OF SERVICE, ARE ELIGIBLE TO RECEIVE THEIR 2022 CONTRIBUTIONS IN CASH. DURING 2022, THE FOLLOWING PAYMENT WAS MADE PURSUANT TO THE SUPER VESTING RULES AND IS INCLUDED IN COLUMN B(III) OF SCHEDULE J, PART II: ROBERT RITZ - $127,049

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411349349306931

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