Catholic Health Initiatives-Iowa Corp
- Assets
- $1.0b
- Revenue
- $817.2m
- Investments
- $272.4m
- Employees
- 6,086
- Location
- Des Moines, IA
- Founding
- 03/1946
- Data as of
- 06/2020
- EIN
- 42-0680448
Organization Overview
Catholic Health Initiatives-Iowa Corp, operating under the name Mercy Medical Center - Des Moines, is located in Des Moines, IA. The organization was established in 1946. 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 06/2020, Mercy Medical Center - Des Moines employed 6,086 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes.
For the year ending 06/2020, Mercy Medical Center - Des Moines generated $817.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $803.1m during the year ending 06/2020. While expenses have increased by 1.5% 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, Mercy Medical Center - Des Moines has awarded 199 individual grants totaling $382,831,976. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC HEALTH INITIATIVES - IOWA CORP IS A NOT-FOR-PROFIT CATHOLIC HEALTH CARE ORGANIZATION CREATING HEALTHIER COMMUNITIES THROUGH THE OPERATION OF A 802-BED ACUTE CARE HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE H
SEE SCHEDULE H
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Tannenbaum Director/physician | Trustee | 40 | $853,893 |
Rakshak Sarda Cardiologist | 40 | $737,127 | |
David Hockmuth Cardiothoracic Surgeon | 40 | $727,329 | |
Aaron From Physician-Cardiologist | 40 | $714,166 | |
John Justice Cardiologist | 40 | $711,363 | |
Michael Wegner Interim CEO Of Chi Iowa Corp (partial Year) | 40 | $697,154 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rcg Des Moines Acute Medical Services | 6/29/20 | $2,291,731 |
Rcg Des Moines Acute Medical Services | 6/29/20 | $2,291,731 |
Primary Health Care Medical Services | 6/29/20 | $1,976,784 |
Primary Health Care Medical Services | 6/29/20 | $1,976,784 |
Medical Ctr Anesthesiologist Physician Services | 6/29/20 | $1,835,619 |
Sigler Companies Marketing Services | 6/29/20 | $1,203,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $27,046,747 |
| Government grants | $14,193,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,476,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,716,744 |
| Total Program Service Revenue | $688,280,431 |
| Investment income | $5,466,649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,929,043 |
| Net Gain/Loss on Asset Sales | $10,564,965 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $817,241,108 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $68,544,697 |
| 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. | $3,360,191 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $255,754,034 |
| Pension plan accruals and contributions | $13,036,769 |
| Other employee benefits | $27,922,402 |
| Payroll taxes | $17,375,528 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $46,497 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,890,033 |
| Advertising and promotion | $3,992,704 |
| Office expenses | $10,303,967 |
| Information technology | $53,570,924 |
| Royalties | $0 |
| Occupancy | $18,813,416 |
| Travel | $734,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,716 |
| Interest | $3,701,470 |
| Payments to affiliates | $8,202,012 |
| Depreciation, depletion, and amortization | $32,353,759 |
| Insurance | $4,956,033 |
| All other expenses | $5,343,824 |
| Total functional expenses | $803,069,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,675 |
| Savings and temporary cash investments | $149,006,081 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $130,735,676 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,454,055 |
| Prepaid expenses and deferred charges | $2,020,767 |
| Net Land, buildings, and equipment | $357,536,029 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $272,391,981 |
| Investments—program-related | $0 |
| Intangible assets | $4,080,015 |
| Other assets | $84,795,047 |
| Total assets | $1,021,035,326 |
| Accounts payable and accrued expenses | $148,893,683 |
| Grants payable | $0 |
| Deferred revenue | $171,148 |
| 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 | $216,120,021 |
| Total liabilities | $365,184,852 |
| Net assets without donor restrictions | $655,850,474 |
| Net assets with donor restrictions | $0 |
| 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 | $1,021,035,326 |
Grants Awarded
Over the last fiscal year, Catholic Health Initiatives-Iowa Corp has awarded $136,978,708 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $61,999,272 |
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $61,999,272 |
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $2,400,000 |
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $2,400,000 |
Des Moines, IA PURPOSE: COMMUNITY SUPPORT | $2,024,284 |
Des Moines, IA PURPOSE: COMMUNITY SUPPORT | $2,024,284 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Catholic Health Initiatives-Iowa Corp has recieved totaling $10,993.
| Awarding Organization | Amount |
|---|---|
Iowa Consortium For Comprehensive Cancer Control North Liberty, IA PURPOSE: WORK & SERVICES | $10,993 |
Endowment Analysis
| Beg. Balance | $1,189,648 |
| Earnings | $154,005 |
| Net Contributions | $2,722,449 |
| Ending Balance | $4,066,102 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Wisconsin Medical Foundation Inc Middleton, WI | $1,086,870,157 | $956,685,711 |
St Lukes Hospital Of Kansas City Kansas City, MO | $1,392,812,481 | $948,488,426 |
Mercy Hospital Springfield Springfield, MO | $580,000,472 | $1,006,677,358 |
St Cloud Hospital St Cloud, MN | $1,486,537,959 | $931,948,044 |
Ascension St John Hospital St Louis, MO | $420,361,390 | $924,193,769 |
Central Iowa Hospital Corporation Des Moines, IA | $1,259,331,686 | $914,986,157 |
The Carle Foundation Hospital Urbana, IL | $396,914,947 | $1,026,211,585 |
North Memorial Health Care Robbinsdale, MN | $661,551,956 | $865,106,386 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,021,035,326 | $817,241,108 |
Regions Hospital Minneapolis, MN | $984,406,424 | $834,995,997 |
Ascension Providence Hospital St Louis, MO | $465,661,519 | $850,694,127 |
Monument Health Rapid City Hospital Inc Rapid City, SD | $1,290,053,350 | $799,060,312 |