Hrmc Foundation
- Assets
- $3.6m
- Revenue
- $620.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Huron, SD
- Founding
- 10/1995
- Data as of
- 12/2021
- EIN
- 46-0437171
Organization Overview
Hrmc Foundation is located in Huron, SD. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hrmc 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 12/2021, Hrmc Foundation generated $620.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $345.0k during the year ending 12/2021. While expenses have increased by 22.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PURPOSE IS TO RAISE GIFT INCOME EACH YEAR, WHICH WILL BE USED TO SUPPORT AND ENDOW THE MAINTENANCE AND ENHANCEMENT OF THE HEALTH CARE SERVICES ON BEHALF OF HURON REGIONAL MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES TO BRING GIFTS OF THE COMMUNITY TOGETHER TO STRENGTHEN, SUPPORT AND ENHANCE THE HURON REGIONAL MEDICAL CENTER SYSTEM OF CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Goehner Secretary-Tr | OfficerTrustee | $0 | |
Lisa Boomsma Chairwoman | OfficerTrustee | $0 | |
Doug Stahly Vice Chair | OfficerTrustee | $0 | |
Nicola Larson Director | Trustee | $0 | |
Kristi Mattke Director | Trustee | $0 | |
Laurie Smith Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $255,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $255,174 |
| Total Program Service Revenue | $128,664 |
| Investment income | $56,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $132,570 |
| Net Income from Fundraising Events | $47,367 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $620,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,024 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,182 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,189 |
| 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 | $8,197 |
| 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 | $1,152 |
| All other expenses | $2,153 |
| Total functional expenses | $345,012 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,640 |
| Savings and temporary cash investments | $293,137 |
| Pledges and grants receivable | $8,420 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,051,176 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,566,373 |
| Accounts payable and accrued expenses | $65,826 |
| 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 | $750 |
| Total liabilities | $66,576 |
| Net assets without donor restrictions | $1,431,700 |
| Net assets with donor restrictions | $2,068,097 |
| 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 | $3,566,373 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hrmc Foundation has recieved totaling $67,681.
| Awarding Organization | Amount |
|---|---|
South Dakota Community Foundation Pierre, SD PURPOSE: Healthcare | $52,681 |
United Way Of Huron Huron, SD PURPOSE: GENERAL SUPPORT | $15,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Infinity Health Leon, IA | $10,144,821 | $15,337,549 |
Richardton Health Center Inc Richardton, ND | $6,624,824 | $4,311,351 |
Northern Montana Health Care Inc Havre, MT | $103,915,876 | $18,268,656 |
Hrmc Foundation Huron, SD | $3,566,373 | $620,258 |
Shelby County Health Foundation Harlan, IA | $3,482,606 | $215,436 |
Rural Health Services Inc Alexandria, MN | $442,364 | $204,000 |
Converse County Hospital Foundation Inc Douglas, WY | $1,665,301 | $303,475 |
Nebraska Rural Health Association Papillion, NE | $211,807 | $0 |
Elkhorn Mountain Health Services Inc Boulder, MT | $169,969 | $0 |
Northern Lakes Health Care Fund Duluth, MN | $24,131 | $0 |