Riverwood Health Care Center & Comm Hospital Foundation
- Assets
- $5.9m
- Revenue
- $458.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Aitkin, MN
- Founding
- 03/1993
- Data as of
- 09/2021
- EIN
- 41-1738787
Organization Overview
Riverwood Health Care Center & Comm Hospital Foundation is located in Aitkin, MN. The organization was established in 1993. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverwood Health Care Center & Comm Hospital Foundation 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 09/2021, Riverwood Health Care Center & Comm Hospital Foundation generated $458.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.3% each year . All expenses for the organization totaled $319.3k during the year ending 09/2021. While expenses have increased by 6.3% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT CAPITAL IMPROVEMENTS AND ACTIVITIES OF AITKIN COMMUNITY HOSPITAL, INC. D/B/A RIVERWOOD HEALTHCARE CENTER; TO SPONSOR SPECIFIC PROJECTS AND PROGRAMS TO CONTINUE TO ENHANCE HEALTHCARE IN RURAL MINNESOTA; AND TO PROMOTE AND ENCOURAGE HEALTH EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HELPS RIVERWOOD HEALTHCARE CENTER BY RAISING FUNDS TO SUPPORT ADVANCED MEDICINE AND ALLOWING MEDICAL CARE TO BE DELIVERED LOCALLY SO THAT PATIENTS DON'T HAVE TO TRAVEL OUT OF THE AREA. IT RECOGNIZES THE IMPORTANCE OF QUALITY HEALTHCARE IN OUR RURAL AREA AND PURCHASES CAPITAL EQUIPMENT FOR THE HOSPITAL. THE FOUNDATION IS COMMITTED TO MAINTAINING AND EXPANDING QUALITY HEALTHCARE FOR RESIDENTS OF AITKIN COUNTY AND SURROUNDING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Butenhoff Secretary | OfficerTrustee | 1 | $0 |
Shirley Winegar Vice Chair | OfficerTrustee | 1 | $0 |
David Hommes Treasurer | OfficerTrustee | 1 | $0 |
Henry Brucker Chair | OfficerTrustee | 1 | $0 |
Todd Sandberg Rhcc CEO Until 7/31/21 | Officer | 1 | $0 |
Cynthia Baker Rhcc Interim CEO | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $55,203 |
| Related organizations | $119,198 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,213 |
| Noncash contributions included in lines 1a–1f | $122,538 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,614 |
| Total Program Service Revenue | $0 |
| Investment income | $142,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,291 |
| Net Income from Fundraising Events | -$8,576 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $458,610 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $162,706 |
| Grants and other assistance to domestic individuals. | $10,077 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $136,854 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $319,324 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $122,244 |
| Savings and temporary cash investments | $471,204 |
| Pledges and grants receivable | $68,129 |
| Accounts receivable, net | $61,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,345,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $856,414 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,924,710 |
| Accounts payable and accrued expenses | $11,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $11,000 |
| Net assets without donor restrictions | $5,085,637 |
| Net assets with donor restrictions | $828,073 |
| 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 | $5,924,710 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Riverwood Health Care Center & Comm Hospital Foundation has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Garrison Commercial Club Inc Garrison, MN | | $7,000 |
Endowment Analysis
| Beg. Balance | $593,667 |
| Earnings | $77,512 |
| Grants | $15,000 |
| Ending Balance | $656,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teamsters Local 346 Health Fund Trust Bloomington, MN | $55,790,921 | $66,782,892 |
Healthpartners Institute Minneapolis, MN | $92,324,263 | $47,741,048 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
Versiti Inc Milwaukee, WI | $31,675,126 | $28,432,711 |
Pioneer Healthcare Tr Fargo, ND | $21,487,108 | $28,269,563 |
Oklahoma Gas And Electric Company Employees Medical Benefit Trust Des Moines, IA | $55,573 | $22,996,745 |
Roofers Local 96 Health & Welfare Fund Bloomington, MN | $17,573,620 | $18,996,626 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Northern Minnesota-Wisconsin Area Retail Food Health & Welfare Fund Duluth, MN | $9,554,218 | $16,178,140 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |