Munson Medical Center
- Assets
- $1.2b
- Revenue
- $752.9m
- Investments
- $27.2m
- Employees
- 4,888
- Location
- Traverse City, MI
- Founding
- Data as of
- 06/2021
- EIN
- 38-1362830
Organization Overview
Munson Medical Center is located in Traverse City, MI. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2021, Munson Medical Center employed 4,888 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Munson Medical Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Munson Medical Center generated $752.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $658.2m during the year ending 06/2021. While expenses have increased by 4.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Munson Medical Center has awarded 15 individual grants totaling $1,156,367. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MUNSON MEDICAL CENTER AND ITS PARTNERS WORK TOGETHER TO PROVIDE SUPERIOR QUALITY CARE AND PROMOTE COMMUNITY HEALTH.
Describe the Organization's Program Activity:
EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF TRAVERSE CITY, MI AND THE SURROUNDING AREA WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY. MUNSON MEDICAL CENTER SERVES AS A RURAL REFERRAL CENTER FOR THE SURROUNDING 24-COUNTY AREA, WITH 20,057 INPATIENT ADMISSIONS IN FISCAL YEAR 2021 AND OVER 484,000 OUTPATIENT VISITS. THE HOSPITAL SERVED MORE THAN 15,000 SURGICAL CASES, 1,837 OBSTETRICAL BIRTHS, AND OVER 46,000 EMERGENCY ROOM VISITS. MUNSON MEDICAL CENTER ACCEPTS ALL PATIENTS, REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAS 620 ACTIVE MEDICAL STAFF. INCLUDED IN PROGRAM SERVICE EXPENSES ARE 10.7 MILLION OF EXPENSES RELATED TO THE COMPREHENSIVE CARE OF COVID-19 PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Schermerhorn MD Neurosurgeon | 40 | $1,017,558 | |
John Campbell MD Neurosurgeon | 40 | $929,737 | |
Joel Strehl DO Surgeon | 40 | $794,772 | |
Ashley Sachtleben DO Physician | 40 | $762,077 | |
Adrian Seah MD Surgeon | 40 | $759,737 | |
Matthew Wille CEO & Presid | OfficerTrustee | 40 | $470,044 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sound Physicians Medical | 6/29/21 | $7,886,980 |
Traverse Bay Rad Oncologists Medical | 6/29/21 | $3,040,377 |
Grand Traverse Oncology Hematol Medical | 6/29/21 | $3,934,701 |
Cardiothoracic Surgeons Gt Pc Medical | 6/29/21 | $6,300,661 |
Mayo Clinic Laboratories Laboratory | 6/29/21 | $4,245,975 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,483,776 |
| Government grants | $7,188,378 |
| All other contributions, gifts, grants, and similar amounts not included above | $205,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,877,904 |
| Total Program Service Revenue | $695,162,619 |
| Investment income | $14,138,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $144,467 |
| Net Gain/Loss on Asset Sales | $30,653,726 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $385 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $752,883,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $430,806 |
| Grants and other assistance to domestic individuals. | $470,142 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,905,922 |
| Compensation of current officers, directors, key employees. | $551,421 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $229,084,933 |
| Pension plan accruals and contributions | $15,693,976 |
| Other employee benefits | $28,956,447 |
| Payroll taxes | $15,988,355 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,047 |
| Fees for services: Accounting | $30,695 |
| Fees for services: Lobbying | $19,611 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,721,063 |
| Fees for services: Other | $131,508,115 |
| Advertising and promotion | $30,614 |
| Office expenses | $3,436,534 |
| Information technology | $9,402,219 |
| Royalties | $0 |
| Occupancy | $7,402,764 |
| Travel | $152,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $626,363 |
| Interest | $5,644,212 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,941,956 |
| Insurance | $1,130,718 |
| All other expenses | -$9,771,891 |
| Total functional expenses | $658,232,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,493 |
| Savings and temporary cash investments | $358,608,973 |
| Pledges and grants receivable | $999,022 |
| Accounts receivable, net | $92,319,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $122,670 |
| Inventories for sale or use | $14,195,225 |
| Prepaid expenses and deferred charges | $5,117,209 |
| Net Land, buildings, and equipment | $261,678,851 |
| Investments—publicly traded securities | $452,717,334 |
| Investments—other securities | $27,202,297 |
| Investments—program-related | $0 |
| Intangible assets | $280,000 |
| Other assets | $26,713,076 |
| Total assets | $1,240,001,316 |
| Accounts payable and accrued expenses | $78,001,807 |
| Grants payable | $0 |
| Deferred revenue | $2,989,721 |
| Tax-exempt bond liabilities | $137,877,639 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $197,738,712 |
| Total liabilities | $416,607,879 |
| Net assets without donor restrictions | $800,694,817 |
| Net assets with donor restrictions | $22,698,620 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,240,001,316 |
Grants Awarded
Over the last fiscal year, Munson Medical Center has awarded $430,806 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Traverse City, MI PURPOSE: COVID-19 | $422,750 |
Traverse City, MI PURPOSE: MEDICALLY UNDERSERVE | $8,056 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Munson Medical Center has recieved totaling $115,000.
| Awarding Organization | Amount |
|---|---|
Herbert H And Barbara C Dow Foundation Frankfort, MI PURPOSE: STROKE CENTER | $100,000 |
Robert J And Jennifer J Banks Charitable Tr Wilmington, DE PURPOSE: BEHAVIORAL HEALTH | $15,000 |
Endowment Analysis
| Beg. Balance | $341,383,492 |
| Earnings | $19,006,939 |
| Admin Expense | $1,512,275 |
| Net Contributions | $37,298,137 |
| Other Expense | $696,763 |
| Grants | $34,587,794 |
| Ending Balance | $360,891,736 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Deaconess Hospital Inc Evansville, IN | $1,921,220,397 | $1,102,144,618 |
Kettering College Miamisburg, OH | $1,728,903,615 | $1,055,020,178 |
Covenant Medical Center Inc Saginaw, MI | $1,038,790,282 | $776,913,978 |
Allegiance Health Jackson, MI | $830,742,312 | $709,583,429 |
Indiana University Health Bloomingon Inc Indianapolis, IN | $990,966,337 | $700,343,585 |
Munson Medical Center Traverse City, MI | $1,240,001,316 | $752,883,085 |
Bethesda Hospital Inc Cincinnati, OH | $1,219,368,332 | $686,286,971 |
Mercy Health System Corporation Janesville, WI | $590,598,309 | $634,611,105 |
The Good Samaritan Hospital Of Cincinnati Ohio Dtd 01251995 Cincinnati, OH | $942,007,823 | $651,965,819 |
St Vincent Hospital-Hospital Sisters-Third Order Of St Francis Green Bay, WI | $911,771,001 | $646,081,418 |
Munster Medical Research Foundation Inc Munster, IN | $297,008,950 | $660,640,751 |
Aspirus Wausau Hospital Inc Wausau, WI | $652,843,423 | $674,491,769 |