Grinnell Regional Medical Center
- Assets
- $29.9m
- Revenue
- $60.1m
- Investments
- $0.0
- Employees
- 438
- Location
- Grinnell, IA
- Founding
- 05/1997
- Data as of
- 12/2021
- EIN
- 42-0933383
Organization Overview
Grinnell Regional Medical Center is located in Grinnell, IA. The organization was established in 1997. 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, Grinnell Regional Medical Center employed 438 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grinnell Regional 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, Grinnell Regional Medical Center generated $60.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $57.8m during the year ending 12/2021. While expenses have increased by 2.8% 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.
Since 2019, Grinnell Regional Medical Center has awarded 11 individual grants totaling $6,523,111. 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
TO TREAT, HEAL AND CARE FOR THE SICK AND DISABLED.
Describe the Organization's Program Activity:
THE ORGANIZATION IS A PROSPECTIVE PAYMENT SYSTEM HOSPITAL WITH 49 ACUTE BEDS. THE ORGANIZATION PROVIDES ACUTE AND ANCILLARY SERVICES TO INDIVIDUALS IN INPATIENT AND OUTPATIENT SETTINGS. IN ADDITION, THE ORGANIZATION OPERATES SEVERAL PHYSICIANS' CLINICS. DURING 2021, THE ORGANIZATION PROVIDED 4,869 DAYS OF ACUTE CARE, 671 DAYS OF SKILLED NURSING CARE AND 385 NURSERY DAYS.
CHARITY CARE, MEANS-TESTED PROGRAMS AND OTHER COMMUNITY BENEFITSCHARITY CARE AND MEANS-TESTED PROGRAMS: GRINNELL REGIONAL MEDICAL CENTER PROVIDES CHARITY CARE AND OTHER MEANS-TESTED PROGRAMS WITH THE GOAL TO IMPROVE THE COMMUNITY'S OVERALL HEALTH AND ACCESS TO CARE. THIS INCLUDES HEALTH-CARE SERVICES REGARDLESS OF THE PATIENT'S INSURANCE COVERAGE OR FINANCIAL STATUS. CHARITY CARE AND PARTIAL TO FULL FINANCIAL ASSISTANCE IS PROVIDED TO PATIENTS ON A CASE-BY-CASE BASIS. CHARITY CARE WAS MADE AVAILABLE AT A VALUE OF $223,271 IN 2021. OFTENTIMES, GRINNELL REGIONAL MEDICAL CENTER RECEIVES PAYMENTS FROM PAYORS OR PATIENTS THAT ARE LESS THAN IT CHARGES FOR SERVICES. GRINNELL REGIONAL MEDICAL CENTER PARTICIPATES IN MEDICAID AND OTHER GOVERNMENT-SPONSORED HEALTH-CARE PROGRAMS. NET COST OF PROVIDING CARE FOR WHICH IT RECEIVES PAYMENT BELOW ITS COST IS $3,236,573 FOR 2021. TOTAL CHARITY CARE AND MEANS-TESTED PROGRAMS REPORTED VALUE: $3,459,844.OTHER BENEFITS: GRINNELL REGIONAL MEDICAL CENTER PROVIDES SEVERAL OTHER BENEFITS THAT ASSIST THE COMMUNITY. PROGRAMS INCLUDE, BUT ARE NOT LIMITED TO, COMMUNITY HEALTH IMPROVEMENT SERVICES AND COMMUNITY BENEFIT OPERATIONS SUCH AS PREVENTION AND HEALTH SCREENINGS; SUBSIDIZED HEALTH SERVICES; RESEARCH, AND IN-KIND CONTRIBUTIONS TO COMMUNITY GROUPS. GRINNELL REGIONAL MEDICAL CENTER COLLABORATES WITH OTHER HOSPITALS, CHURCHES, SCHOOLS, CHAMBERS OF COMMERCE AND DAYCARE CENTERS TO IMPROVE COMMUNITY HEALTH AND EXPAND ACCESS TO HEALTH CARE. GRINNELL REGIONAL MEDICAL CENTER HAS DEDICATED STAFF TO ASSIST COMMUNITY BENEFIT EFFORTS. TOTAL NET OTHER BENEFITS REPORTED VALUE: $4,545.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Ellestad DO Physician | 40 | $315,056 | |
Sumin Li MD Physician | 40 | $298,699 | |
Scott Doyle Crna Arnp Anesthesiology | 40 | $246,204 | |
Kathryn Ogburn Crna Anesthesiology | 40 | $238,458 | |
Todd Janicki MD Physician | 40 | $233,190 | |
Kyle Wilcox VP Finance | Officer | 40 | $203,252 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Surgical Associates Llp On Call & Bariatric Education | 12/30/21 | $2,041,980 |
Elizabeth Jo Tigges Do Medical Services | 12/30/21 | $399,232 |
Amn Healthcare Medical Staffing | 12/30/21 | $1,505,563 |
Whitman Ent Plc Medical Services | 12/30/21 | $675,416 |
Des Moines Orthopaedic Surgeon Medical Services | 12/30/21 | $580,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $279,477 |
| Government grants | $221,097 |
| All other contributions, gifts, grants, and similar amounts not included above | $366,897 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $867,471 |
| Total Program Service Revenue | $58,318,627 |
| Investment income | $22,401 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,722 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,079,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $191,996 |
| 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. | $925,755 |
| Compensation of current officers, directors, key employees. | $567,620 |
| Compensation to disqualified persons | $100,530 |
| Other salaries and wages | $28,230,873 |
| Pension plan accruals and contributions | $817,881 |
| Other employee benefits | $3,750,819 |
| Payroll taxes | $1,409,876 |
| Fees for services: Management | $4,314,369 |
| Fees for services: Legal | $44,619 |
| Fees for services: Accounting | $3,705 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,939 |
| Fees for services: Other | $3,599,989 |
| Advertising and promotion | $109,943 |
| Office expenses | $338,819 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $557,946 |
| Travel | $33,407 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,491 |
| Interest | $104,692 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,633,046 |
| Insurance | $414,147 |
| All other expenses | $0 |
| Total functional expenses | $57,775,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,884,473 |
| Savings and temporary cash investments | $26,323 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,615,450 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,850,126 |
| Inventories for sale or use | $1,610,593 |
| Prepaid expenses and deferred charges | $216,669 |
| Net Land, buildings, and equipment | $11,547,030 |
| Investments—publicly traded securities | $2,153,683 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $95 |
| Total assets | $29,904,442 |
| Accounts payable and accrued expenses | $4,146,349 |
| Grants payable | $0 |
| Deferred revenue | $3,004,505 |
| 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 | $360,260 |
| Unsecured mortgages and notes payable | $1,534,909 |
| Other liabilities | $8,784,718 |
| Total liabilities | $17,830,741 |
| Net assets without donor restrictions | $12,027,173 |
| Net assets with donor restrictions | $46,528 |
| 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 | $29,904,442 |
Grants Awarded
Over the last fiscal year, Grinnell Regional Medical Center has awarded $5,795,938 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
West Des Moines, IA PURPOSE: PROGRAM SUPPORT | $4,847,310 |
Grinnell, IA PURPOSE: PROGRAM SUPPORT | $661,472 |
STORY COUNTY HOSPITAL PURPOSE: PROGRAM SUPPORT | $167,652 |
Boone, IA PURPOSE: PROGRAM SUPPORT | $38,421 |
TAMA COUNTY PUBLIC HEALTH PURPOSE: PROGRAM SUPPORT | $34,228 |
MARSHALL COUNTY PUBLIC HEALTH PURPOSE: PROGRAM SUPPORT | $21,655 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Grinnell Regional Medical Center has recieved totaling $299,482.
| Awarding Organization | Amount |
|---|---|
Grinnell Regional Medical Center Foundation Grinnell, IA PURPOSE: PROGRAM ASSISTANCE | $279,477 |
Grinnell Mutual Group Foundation Grinnell, IA PURPOSE: MATERNAL HEALTH CARE PROJECT-GRANT | $10,000 |
Grinnell Mutual Group Foundation Grinnell, IA PURPOSE: MULTI YEAR PLEDGE-5TH OF 5 YEARS | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
Fort Madison Community Hospital West Burlington, IA | $0 | $63,917,889 |
Avera Queen Of Peace Mitchell, SD | $173,794,004 | $133,877,982 |
Gibson Area Hospital Gibson City, IL | $63,536,615 | $119,801,214 |
Jane Phillips Memorial Medical Center Inc St Louis, MO | $87,499,100 | $121,263,469 |
St Nicholas Hospital Of The Hospita Sisters Of The Third Order Of St F Sheboygan, WI | $160,864,409 | $138,043,178 |
Holy Cross Hospital Chicago, IL | $142,348,563 | $113,770,792 |
Winona Health Services Winona, MN | $149,374,764 | $114,059,975 |
Methodist Fremont Health Omaha, NE | $109,967,706 | $124,306,426 |
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 |
Ottawa Regional Hospital & Healthcare Center Peoria, IL | $91,725,518 | $145,777,119 |