Riverwood Medical Properties Llc
- Assets
- $5.0m
- Revenue
- $126.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Aitkin, MN
- Founding
- 05/2018
- Data as of
- 12/2021
- EIN
- 82-3113322
Organization Overview
Riverwood Medical Properties Llc is located in Aitkin, MN. The organization was established in 2018. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, 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 Medical Properties Llc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO AID IN THE RENOVATION AND EXPANSION OF A TAX-EXEMPT HOSPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIVERWOOD MEDICAL PROPERTIES, LLC ("RIVERWOOD") EXISTS TO SUPPORT CHARITABLE, EDUCATIONAL AND/OR SCIENTIFIC PURPOSES AS DEFINED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986. SPECIFICALLY, RIVERWOOD WILL FINANCE THE RENOVATION AND EXPANSION OF THE TAX-EXEMPT HOSPITAL KNOWN AS AITKIN COMMUNITY HOSPITAL DBA THE RIVERWOOD HEALTHCARE CENTER ("AITKIN HOSPITAL"), A PUBLIC CHARITY. THE EXISTING HOSPITAL HAS SURGICAL SERVICES, RADIOLOGY SERVICES, CHEMO SERVICES, BIRTHING SUITES, CARDIOPULMONARY REHAB AND A REHABILITATION CENTER. THE CLINIC AREA PROVIDES A FULL RANGE OF HEALTHCARE, DIAGNOSTIC AND TREATMENT SERVICES ALONG WITH SPECIALTY CLINIC SERVICES. THE REHABILITATION PROJECT WILL INCLUDE RENOVATING, EXPANDING, AND EQUIPPING THE EXISTING 25-BED CRITICAL ACCESS HOSPITAL AND CLINIC TO PROVIDE ADDITIONAL EXAM ROOMS, MEDICAL TEAM MEETING SPACE, REHABILITATION SPACE, AND DOCTOR OFFICES FOR NEPHROLOGY, ORTHOPEDICS, CARDIOLOGY, DERMATOLOGY, OBSTETRICS AND GYNECOLOGY. ADDITIONALLY, THE REHABILITATION PROJECT WILL INCLUDE THE RENOVATION OF A NINE-CHAIR KIDNEY DIALYSIS UNIT AND AN ISOLATION UNIT. THE RENOVATION OF AITKIN HOSPITAL WILL ENABLE THE HOSPITAL TO PROVIDE EXPANDED AND IMPROVED CARE TO THE SURROUNDING RURAL COMMUNITY.
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PDF Copies of 990 Filings
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $126,000 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $918 |
| 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 | $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 | $15,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $222,640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $322,710 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $561,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $4,869,695 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $170,933 |
| Total assets | $5,040,628 |
| Accounts payable and accrued expenses | $0 |
| 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 | $6,126,133 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,126,133 |
| Net assets without donor restrictions | $0 |
| 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 | -$1,085,505 |
| Total liabilities and net assets/fund balances | $5,040,628 |
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