Monument Health Rapid City Hospital Inc
- Assets
- $1.3b
- Revenue
- $799.1m
- Investments
- $288.4m
- Employees
- 4,704
- Location
- Rapid City, SD
- Founding
- 01/1974
- Data as of
- 06/2020
- EIN
- 46-0319070
Organization Overview
Monument Health Rapid City Hospital Inc is located in Rapid City, SD. The organization was established in 1974. 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, Monument Health Rapid City Hospital Inc employed 4,704 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Monument Health Rapid City Hospital Inc generated $799.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $767.3m during the year ending 06/2020. While expenses have increased by 6.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
MONUMENT HEALTH IS DEDICATED TO IMPROVING THE HEALTH OF INDIVIDUALS AND OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONUMENT HEALTH RAPID CITY HOSPITAL, INC. (MHRCH) OFFERS BOTH INPATIENT AND OUTPATIENT HEALTH SERVICES. ITS TERTIARY HOSPITAL, RAPID CITY HOSPITAL (RCH), SERVES WESTERN SOUTH DAKOTA. THE NEAREST LARGER HOSPITAL IS IN SIOUX FALLS, SD, MORE THAN 350 MILES AWAY. AS SUCH, THE SERVICES PROVIDED BY MHRCH ARE TRULY A HEALTHCARE SAFETY NET FOR WESTERN SOUTH DAKOTA. THE HOSPITAL PROVIDES COMPREHENSIVE CARE, INCLUDING LEVEL II TRAUMA CARE. MHRCH ALSO INCLUDES MONUMENT HEALTH ORTHOPEDIC AND SPECIALTY HOSPITAL (MHOSH). MHOSH FOCUSES ON ORTHOPEDICS, NEUROSURGERY AND PODIATRY, AS WELL AS RELATED OUTPATIENT SERVICES, RELATED THERAPY SERVICES AND SPORTS PERFORMANCE SERVICES.MHRCH IS ALSO THE SINGLE MEMBER OF MONUMENT HEALTH HOME PLUS, LLC.
MONUMENT HEALTH HOME PLUS, LLC SPECIALTY PHARMACY OFFERS HIGH-COST, HIGH-TOUCH MEDICATION THERAPY FOR PATIENTS WITH COMPLEX DISEASES. THESE INCLUDE CANCER, MULTIPLE SCLEROSIS, CROHN'S DISEASE, HEPATITIS C, PSORIASIS, RHEUMATOID ARTHRITIS AND RARE GENETIC CONDITIONS. THE MEDICATIONS OFTEN REQUIRE SPECIAL STORAGE, HANDLING, AND/OR ADMINISTRATION.
RCH SURGICAL SERVICES - PROVIDE IN AND OUT-PATIENT SURGICAL SERVICES TO ACUTE CARE PATIENTS.
RCH PHARMACY - PROVIDE PHARMACEUTICALS IN SUPPORT OF ACUTE CARE HOSPITAL PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Takara MD Physician - Cardiac Surgery | 40 | $1,199,974 | |
Paul Miller MD Physician - Orthopedic Surgery | 34 | $1,117,468 | |
Joseph Tuma MD Physician - Cardiology | 40 | $1,089,259 | |
Bhaskar Purushottam MD Physician - Cardiology | 40 | $1,079,910 | |
John Karl Heilman III MD Physician - Cardiology | 40 | $997,484 | |
Mark A Thompson Cfo/treasurer | Officer | 45.2 | $964,572 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Layton Gustafson Construction | 6/29/20 | $69,395,993 |
Crothall Healthcare Professional Services | 6/29/20 | $12,324,030 |
Medefis Contract Labor | 6/29/20 | $15,530,296 |
Morrison Management Specialists Inc Professional Services | 6/29/20 | $8,028,695 |
Weatherby Locums Contract Labor | 6/29/20 | $9,630,987 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $126,264 |
| Related organizations | $0 |
| Government grants | $17,113,550 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,975,091 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,214,905 |
| Total Program Service Revenue | $770,763,546 |
| Investment income | $10,182,294 |
| Tax Exempt Bond Proceeds | $461,273 |
| Royalties | $0 |
| Net Rental Income | $344,413 |
| Net Gain/Loss on Asset Sales | -$3,161,486 |
| Net Income from Fundraising Events | $83,306 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $58,680 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $799,060,312 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $218,000 |
| 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. | $9,598,496 |
| Compensation of current officers, directors, key employees. | $7,352,898 |
| Compensation to disqualified persons | $223,039 |
| Other salaries and wages | $284,898,891 |
| Pension plan accruals and contributions | $5,554,258 |
| Other employee benefits | $267,140 |
| Payroll taxes | $18,581,019 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $415,306 |
| Fees for services: Accounting | $459,631 |
| Fees for services: Lobbying | $77,429 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,645,854 |
| Advertising and promotion | $993,226 |
| Office expenses | $14,717,355 |
| Information technology | $15,876,496 |
| Royalties | $0 |
| Occupancy | $23,845,756 |
| Travel | $1,967,391 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $341,048 |
| Interest | $4,444,885 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,502,122 |
| Insurance | $2,470,855 |
| All other expenses | $0 |
| Total functional expenses | $767,301,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,068,036 |
| Savings and temporary cash investments | $12,279,791 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,402,394 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,320,680 |
| Prepaid expenses and deferred charges | $14,405,214 |
| Net Land, buildings, and equipment | $480,832,960 |
| Investments—publicly traded securities | $233,027,103 |
| Investments—other securities | $288,421,589 |
| Investments—program-related | $0 |
| Intangible assets | $3,295,583 |
| Other assets | $0 |
| Total assets | $1,290,053,350 |
| Accounts payable and accrued expenses | $145,480,668 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $273,917,128 |
| 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 | $109,748,234 |
| Total liabilities | $529,146,030 |
| Net assets without donor restrictions | $737,027,735 |
| Net assets with donor restrictions | $23,879,585 |
| 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 | $1,290,053,350 |
Grants Awarded
Over the last fiscal year, Monument Health Rapid City Hospital Inc has awarded $218,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Mitchell, SD PURPOSE: 2019 ENDOWMENT & SCHOLARSHIPS AND 2020 Pledge | $95,000 |
Rapid City, SD PURPOSE: 2019 PLEDGE | $60,000 |
TEAMMATES MENTORING PROGRAM PURPOSE: MENTORING EXPANSION | $25,000 |
SOUTH DAKOTA GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT PURPOSE: SPONSORSHIP OF ECONOMIC DEVELOPMENT EVENTS | $15,000 |
Spearfish, SD PURPOSE: SPONSORSHIP | $10,000 |
Omaha, NE PURPOSE: SPONSORSHIP | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Monument Health Rapid City Hospital Inc has recieved totaling $60,855.
| Awarding Organization | Amount |
|---|---|
Mayo Clinic Rochester, MN PURPOSE: SUPPORT CHARITABLE PROGRAMS | $29,690 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $21,165 |
Yale University New Haven, CT PURPOSE: SUBAWARD - SPONSORED RESEARCH | $5,000 |
Yale University New Haven, CT PURPOSE: SUBAWARD - SPONSORED RESEARCH | $5,000 |
Endowment Analysis
| Beg. Balance | $1,662,929 |
| Ending Balance | $1,662,929 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Cloud Hospital St Cloud, MN | $1,486,537,959 | $931,948,044 |
Central Iowa Hospital Corporation Des Moines, IA | $1,259,331,686 | $914,986,157 |
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 |
Monument Health Rapid City Hospital Inc Rapid City, SD | $1,290,053,350 | $799,060,312 |
Altru Health System Grand Forks, ND | $610,029,430 | $615,330,989 |
Bryan Medical Center Lincoln, NE | $1,021,750,525 | $692,852,146 |
Smdc Medical Center Duluth, MN | $1,429,099,437 | $557,084,627 |
Nebraska Methodist Hospital Omaha, NE | $953,272,488 | $634,476,621 |
St Lukes Hospital Of Duluth Duluth, MN | $365,911,818 | $521,629,304 |
Kalispell Regional Medical Center Inc Kalispell, MT | $627,456,099 | $486,020,179 |