International Falls Memorial Hospital Assn
- Assets
- $41.5m
- Revenue
- $38.8m
- Investments
- $677.9k
- Employees
- 228
- Location
- International Falls, MN
- Founding
- 03/1956
- Data as of
- 12/2021
- EIN
- 41-0726171
Organization Overview
International Falls Memorial Hospital Assn, operating under the name Rainy Lake Medical Center, is located in International Falls, MN. The organization was established in 1956. 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 12/2021, Rainy Lake Medical Center employed 228 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainy Lake 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 12/2021, Rainy Lake Medical Center generated $38.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $32.0m during the year ending 12/2021. While expenses have increased by 3.8% per year over the past 7 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND PROVIDE HEALTH CARE AND WELLNESS SERVICES IN OUR REGION THAT EXCEED EXPECTATIONS.
Describe the Organization's Program Activity:
PROVIDED HEALTH CARE SERVICES TO THE COMMUNITY OF INTERNATIONAL FALLS AND SURROUNDING AREA. IN ADDITION TO PROVIDING DIRECT PATIENT CARE AND IN FURTHERANCE OF ITS CHARITABLE PURPOSE, RAINY LAKE MEDICAL CENTER (RLMC) PROVIDES A WIDE VARIETY OF BENEFITS TO THE COMMUNITY INCLUDING OFFERING VARIOUS COMMUNITY BASED SERVICE PROGRAMS, CASH CONTRIBUTIONS TO NON-PROFIT AGENCIES, THE DONATION OF SPACE FOR USE BY COMMUNITY GROUPS, AND STAFF TIME TO MENTORING/JOB SHADOWING. ADDITIONALLY, A NUMBER OF HEALTH RELATED EDUCATION PROGRAMS ARE PROVIDED FOR THE BENEFIT OF THE COMMUNITY, INCLUDING HEALTH ENHANCEMENTS AND WELLNESS, CLASSES ON SPECIFIC CONDITIONS, AND PROGRAMS DESIGNED TO IMPROVE THE GENERAL STANDARDS OF THE HEALTH OF THE COMMUNITY. RLMC ALSO ACTIVELY PROMOTES ITS COMMUNITY CARE PROGRAM, WHICH PROVIDES FREE OR REDUCED COST HEALTHCARE TO PATIENTS WHO ARE UNABLE TO PAY FULLY FOR SERVICES RECEIVED. THE ORGANIZATION DISCONTINUED LABOR AND DELIVERY SERVICES IN 2021. WE STILL PROVIDE OBGYN SERVICES, JUST NOT LABOR AND DELIVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Pastor II CEO | Officer | 40 | $332,125 |
David Moyer Physician | 40 | $301,577 | |
Daniel Margo General Surgeon | 20 | $296,391 | |
Jay Knaak Physician | 40 | $246,201 | |
Celene Cannon-Tinder Hospitalist | 40 | $182,799 | |
Julie Dolphin Hospitalist | 40 | $165,505 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acute Care Inc Physician Fees | 12/30/21 | $1,783,678 |
R C Shefland Anesthesia Ltd Anesthesiologist Fees | 12/30/21 | $517,162 |
Sanford Laboratories Lab Testing Service | 12/30/21 | $387,449 |
Rachel Contracting Construction Services | 12/30/21 | $514,610 |
Sanford Health Providing Meal Service And Software Main | 12/30/21 | $381,043 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,220 |
| Government grants | $4,825,490 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,601 |
| Noncash contributions included in lines 1a–1f | $25,501 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,895,311 |
| Total Program Service Revenue | $33,310,872 |
| Investment income | $280,006 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $69,227 |
| Net Gain/Loss on Asset Sales | $74,374 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,830,378 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $522,795 |
| Compensation of current officers, directors, key employees. | $522,795 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,557,940 |
| Pension plan accruals and contributions | $353,499 |
| Other employee benefits | $1,791,422 |
| Payroll taxes | $954,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,474 |
| Fees for services: Accounting | $129,181 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,162,980 |
| Advertising and promotion | $93,162 |
| Office expenses | $111,651 |
| Information technology | $383,849 |
| Royalties | $0 |
| Occupancy | $326,958 |
| Travel | $39,836 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,697 |
| Interest | $234,930 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,493,925 |
| Insurance | $157,234 |
| All other expenses | $960,059 |
| Total functional expenses | $31,963,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,487,187 |
| Savings and temporary cash investments | $13,125,476 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,843,347 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $644,788 |
| Prepaid expenses and deferred charges | $519,908 |
| Net Land, buildings, and equipment | $13,221,141 |
| Investments—publicly traded securities | $6,914,808 |
| Investments—other securities | $677,878 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,109 |
| Total assets | $41,507,642 |
| Accounts payable and accrued expenses | $3,468,382 |
| Grants payable | $0 |
| Deferred revenue | $1,036,907 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $20,000 |
| Secured mortgages and notes payable | $6,266,680 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,339,269 |
| Total liabilities | $17,131,238 |
| Net assets without donor restrictions | $24,223,794 |
| Net assets with donor restrictions | $152,610 |
| 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 | $41,507,642 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that International Falls Memorial Hospital Assn has recieved totaling $17,304.
| Awarding Organization | Amount |
|---|---|
Minnesota Hospital Association St Paul, MN PURPOSE: SPECIAL PATHOGEN PREPAREDNESS AND RESPONSE | $17,304 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fort Madison Community Hospital West Burlington, IA | $0 | $63,917,889 |
Avera Queen Of Peace Mitchell, SD | $173,794,004 | $133,877,982 |
St Nicholas Hospital Of The Hospita Sisters Of The Third Order Of St F Sheboygan, WI | $160,864,409 | $138,043,178 |
Winona Health Services Winona, MN | $149,374,764 | $114,059,975 |
Beaver Dam Community Hospitals Inc Beaver Dam, WI | $193,989,750 | $109,285,462 |
Jennie Edmundson Memorial Hospital Council Bluffs, IA | $159,830,825 | $120,935,401 |
Prohealth Oconomowoc Memorial Hospital Inc Oconomowoc, WI | $128,184,799 | $110,175,380 |
Door County Memorial Hospital Sturgeon Bay, WI | $145,062,000 | $121,509,372 |
Pella Regional Health Center Pella, IA | $175,318,188 | $109,674,630 |
Aurora Medical Center Bay Area Inc Milwaukee, WI | $215,907,747 | $109,452,768 |
Prairie Lakes Health Care System Inc Watertown, SD | $318,634,035 | $115,979,854 |
Memorial Medical Center Inc Ashland, WI | $199,460,507 | $111,327,895 |