Ridgeview Medical Center
- Assets
- $339.4m
- Revenue
- $297.2m
- Investments
- $25.5m
- Employees
- 2,289
- Location
- Waconia, MN
- Founding
- 11/1999
- Data as of
- 12/2021
- EIN
- 31-1667875
Organization Overview
Ridgeview Medical Center is located in Waconia, MN. The organization was established in 1999. 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, Ridgeview Medical Center employed 2,289 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ridgeview 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, Ridgeview Medical Center generated $297.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $298.1m during the year ending 12/2021. While expenses have increased by 4.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A POSITIVE DIFFERENCE IN THE QUALITY OF LIFE AND HEALTH FOR THE PEOPLE OF OUR AREA.
Describe the Organization's Program Activity:
RIDGEVIEW MEDICAL CENTER ENHANCED AND PROVIDED QUALITY HEALTHCARE SERVICES FOR THE COMMUNITY OF WACONIA AND SURROUNDING AREAS. THE HOSPITAL PROVIDED CHARITY CARE AND OTHER UNCOMPENSATED CARE IN THE AMOUNT OF $847,774 DURING 2021. THE UNPAID COST FOR SERVICES PROVIDED TO MEDICAID AND MEDICARE PATIENTS WAS $9,315,321 AND $31,855,340 IN 2021. UNREIMBURSED COSTS ASSOCIATED WITH THE TRAINING OF HEALTHCARE PROFESSIONALS SUCH AS HIGH SCHOOL STUDENTS SHADOWING FOR INTERNSHIPS FOR PHARMACY, IMAGING, DIETARY, AND MORE TOTALED $219,057. IN 2021 THE HOSPITAL SPENT $9,657,794 ON OTHER UNCOMPENSATED COMMUNITY SERVICES INCLUDING TAXES AND FEES. THE HOSPITAL SERVED 7,344 INPATIENTS, 33,077 EMERGENCY CARE VISITS, 47,566 HOME HEALTH VISITS, 5,156 SURGERIES, 1,424 BIRTHS, 18,864 AMBULANCE RUNS, AND 359,110 OUTPATIENT VISITS IN 2021. RIDGEVIEW MEDICAL CENTER SERVES MORE THAN 350,000 PEOPLE, OPERATES ONE HOSPITAL, ONE FREE-STANDING EMERGENCY AND URGENT CARE FACILITY CENTER AND SEVEN MULTI-SPECIALTY CLINIC LOCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Phelps President/ceo | Officer | 41 | $1,197,762 |
Gordon Gablenz Cio | Officer | 30.5 | $801,951 |
Ken Gilles Cio | Officer | 50 | $302,829 |
Benjamin Nielsen COO | Officer | 44 | $298,901 |
Aaron Bloomquist CFO | Officer | 30.5 | $276,340 |
Pamela Williams Vice President (thru July 2021) | Officer | 1 | $262,574 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empac Ed Physician Services | 12/30/21 | $9,587,262 |
Mayo Collaborative Service Inc Medical Services | 12/30/21 | $1,714,587 |
Childrens Hospital & Clinics Medical Services | 12/30/21 | $1,533,851 |
3keylogic Llc It Services | 12/30/21 | $1,052,192 |
Change Healthcare It Services | 12/30/21 | $1,049,230 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,793,215 |
| Government grants | $9,060,775 |
| 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 | $10,853,990 |
| Total Program Service Revenue | $251,485,222 |
| Investment income | $1,340,361 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,376,982 |
| Net Gain/Loss on Asset Sales | $1,803,048 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,571,466 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $297,208,594 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,002,500 |
| 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. | $5,027,778 |
| Compensation of current officers, directors, key employees. | $5,027,778 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,847,117 |
| Pension plan accruals and contributions | $3,863,509 |
| Other employee benefits | $8,214,804 |
| Payroll taxes | $9,084,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $507,256 |
| Fees for services: Accounting | $283,321 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $584,631 |
| Fees for services: Other | $45,595,398 |
| Advertising and promotion | $206,454 |
| Office expenses | $7,186,900 |
| Information technology | $3,809,590 |
| Royalties | $0 |
| Occupancy | $13,271,298 |
| Travel | $436,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $118,478 |
| Interest | $3,607,355 |
| Payments to affiliates | $280,000 |
| Depreciation, depletion, and amortization | $13,488,273 |
| Insurance | $1,090,565 |
| All other expenses | $1,352,120 |
| Total functional expenses | $298,147,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,643,812 |
| Savings and temporary cash investments | $67,650,214 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,051,819 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,283,357 |
| Prepaid expenses and deferred charges | $5,438,965 |
| Net Land, buildings, and equipment | $114,515,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,487,443 |
| Investments—program-related | $10,898,073 |
| Intangible assets | $0 |
| Other assets | $35,399,186 |
| Total assets | $339,368,547 |
| Accounts payable and accrued expenses | $43,873,654 |
| Grants payable | $0 |
| Deferred revenue | $2,008,204 |
| 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 | $94,557,842 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,076,907 |
| Total liabilities | $167,516,607 |
| Net assets without donor restrictions | $163,515,458 |
| Net assets with donor restrictions | $8,336,482 |
| 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 | $339,368,547 |
Grants Awarded
Over the last fiscal year, Ridgeview Medical Center has awarded $2,939,913 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, MN PURPOSE: GENERAL OPERATING SUPPORT | $2,533,832 |
Waconia, MN PURPOSE: GENERAL OPERATING SUPPORT | $406,081 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ridgeview Medical Center has recieved totaling $1,688,594.
| Awarding Organization | Amount |
|---|---|
Ridgeview Foundation Waconia, MN PURPOSE: FUNDRAISING SUPPORT OF RIDGEVIEW MEDICAL CENTER | $1,688,581 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Cloud Hospital St Cloud, MN | $1,702,572,092 | $1,117,982,242 |
Monument Health Rapid City Hospital Inc Rapid City, SD | $1,522,340,119 | $951,840,989 |
Regions Hospital Minneapolis, MN | $1,151,249,927 | $936,558,758 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,114,579,485 | $904,841,538 |
Central Iowa Hospital Corporation Des Moines, IA | $1,438,981,448 | $937,321,371 |
North Memorial Health Care Robbinsdale, MN | $764,114,547 | $789,881,568 |
Mercy Health System Corporation Janesville, WI | $590,598,309 | $634,611,105 |
Smdc Medical Center Duluth, MN | $1,099,340,280 | $663,367,068 |
St Vincent Hospital-Hospital Sisters-Third Order Of St Francis Green Bay, WI | $911,771,001 | $646,081,418 |
Altru Health System Grand Forks, ND | $1,039,192,012 | $613,611,037 |
Aspirus Wausau Hospital Inc Wausau, WI | $652,843,423 | $674,491,769 |
Bellin Memorial Hospital Inc Green Bay, WI | $753,402,442 | $606,556,735 |