Ridgeview Medical Center
- Assets
- $409.5m
- Revenue
- $333.3m
- Investments
- $24.8m
- Employees
- 2,649
- Location
- Waconia, MN
- Founding
- 11/1999
- Data as of
- 12/2023
- 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 12/2023, Ridgeview Medical Center employed 2,649 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 12/2023, Ridgeview Medical Center generated $333.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $338.7m during the year ending 12/2023. While expenses have increased by 5.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RIDGEVIEW MEDICAL CENTER EXISTS TO ENHANCE THE LIFELONG HEALTH OF THE PEOPLE WE SERVE WITH A CULTURE THAT NURTURES THE WHOLE PERSONMIND, BODY AND SPIRIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIDGEVIEW MEDICAL CENTER ENHANCED AND PROVIDED QUALITY HEALTHCARE SERVICES FOR THE COMMUNITY OF WACONIA AND SURRONDING AREAS. THE HOSPITAL PROVIDED CHARITY CARE AND OTHER UNCOMPENSATED CARE IN THE AMOUNT OF $813,727 DURING 2023. THE UNPAID COST FOR SERVICES PROVIDED TO MEDICAID AND MEDICARE PATIENTS WAS $13,027,604 AND $44,510,459. IN 2023, THE HOSPITAL SPENT $9,183,299 ON UNCOMPENSATED COMMUNITY SERVICES INCLUDING TAXES AND FEES. THE HOSPITAL SERVED 8,122 INPATIENTS, 47,625 EMERGENCY CARE VISITS, 50,573 HOME HEALTH VISITS, 6,764 SURGERIES, 1,486 BIRTHS, 17,753 AMBULANCE RUNS, 193,369 PRIMARY AND SPECIALTY CLINIC VISITS. IT INCLUDES TWO ACCUTE CARE HOSPITALS, TWO EMERGENCY LOCATIONS, AND EIGHT MULTI-SPECIALTY CLINIC LOCATIONS THAT INCLUDES THREE URGENT CARES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theresa Dalen Board Chair | OfficerTrustee | 2 | $4,500 |
Brian Mark Board Vice Chair | OfficerTrustee | 2 | $3,750 |
Van Colson Treasurer | OfficerTrustee | 2 | $3,750 |
Julie Osterberg Secretary | OfficerTrustee | 2 | $3,750 |
Jeff Nelson Board Member | Trustee | 2 | $3,750 |
Stuart Groninga Board Member | Trustee | 2 | $3,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Empac Emergency Department Physician Services | 12/30/23 | $11,055,844 |
Aya Healthcare Nursing Services | 12/30/23 | $4,912,941 |
3keylogic Llc It Services | 12/30/23 | $2,400,819 |
Childrens Hospital & Clinics Medical Services | 12/30/23 | $2,109,193 |
Mayo Collaborative Services Inc Medical Services | 12/30/23 | $1,128,023 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,307,729 |
| Government grants | $2,229,754 |
| 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 | $4,537,483 |
| Total Program Service Revenue | $302,871,244 |
| Investment income | $2,186,582 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,133,556 |
| Net Gain/Loss on Asset Sales | $1,278,633 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,898,653 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $333,321,300 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $51,330 |
| 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. | $5,259,622 |
| Compensation of current officers, directors, key employees. | $5,259,622 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,662,694 |
| Pension plan accruals and contributions | $4,149,272 |
| Other employee benefits | $11,212,921 |
| Payroll taxes | $9,397,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $377,860 |
| Fees for services: Accounting | $249,317 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $795,856 |
| Fees for services: Other | $58,536,242 |
| Advertising and promotion | $345,075 |
| Office expenses | $8,786,117 |
| Information technology | $3,091,717 |
| Royalties | $0 |
| Occupancy | $11,946,550 |
| Travel | $583,572 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $219,672 |
| Interest | $3,610,556 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,423,209 |
| Insurance | $1,008,033 |
| All other expenses | $3,908,216 |
| Total functional expenses | $338,727,972 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,228,240 |
| Savings and temporary cash investments | $70,463,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $47,365,654 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,494,006 |
| Prepaid expenses and deferred charges | $5,428,271 |
| Net Land, buildings, and equipment | $166,102,937 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,830,415 |
| Investments—program-related | $13,229,686 |
| Intangible assets | $0 |
| Other assets | $74,380,179 |
| Total assets | $409,522,555 |
| Accounts payable and accrued expenses | $46,889,756 |
| Grants payable | $0 |
| Deferred revenue | $1,766,542 |
| 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 | $131,482,770 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $71,327,568 |
| Total liabilities | $251,466,636 |
| Net assets without donor restrictions | $149,658,086 |
| Net assets with donor restrictions | $8,397,833 |
| 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 | $409,522,555 |
Grants Awarded
Over the last fiscal year, Ridgeview Medical Center has awarded $2,939,913 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SIBLEY MEDICAL CENTER PURPOSE: GENERAL OPERATING SUPPORT | $2,533,832 |
RIDGEVIEW FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $406,081 |