Munson Medical Center
- Assets
- $1.2b
- Revenue
- $752.9m
- Investments
- $27.2m
- Employees
- 4,918
- Location
- Traverse City, MI
- Founding
- Data as of
- 06/2021
- EIN
- 38-1362830
Organization Overview
Munson Medical Center is located in Traverse City, MI. 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 06/2022, Munson Medical Center employed 4,918 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Munson 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 06/2021, Munson Medical Center generated $752.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $658.2m during the year ending 06/2021. While expenses have increased by 4.0% per year over the past 6 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.
Since 2015, Munson Medical Center has awarded 19 individual grants totaling $1,306,503. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MUNSON MEDICAL CENTER AND ITS PARTNERS WORK TOGETHER TO PROVIDE SUPERIOR QUALITY CARE AND PROMOTE COMMUNITY HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF TRAVERSE CITY, MI AND THE SURROUNDING AREA WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY. MUNSON MEDICAL CENTER SERVES AS A RURAL REFERRAL CENTER FOR THE SURROUNDING 24-COUNTY AREA, WITH 19,218 INPATIENT ADMISSIONS IN FISCAL YEAR 2022 AND OVER 494,000 OUTPATIENT VISITS. THE HOSPITAL SERVED MORE THAN 14,000 SURGICAL CASES, 1,881 OBSTETRICAL BIRTHS, AND OVER 45,000 EMERGENCY ROOM VISITS. MUNSON MEDICAL CENTER ACCEPTS ALL PATIENTS, REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAS 887 ACTIVE MEDICAL STAFF. INCLUDED IN PROGRAM SERVICE EXPENSES ARE 5.7 MILLION OF COVID-19 EXPENSES FOR PATIENT CARE AND OTHER RELATED EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin A Ness Director | Trustee | 1 | $0 |
Gary Rajah Jr MD Neurosurgeon | 40 | $1,286,070 | |
Thomas Schermerhorn MD Neurosurgeon | 40 | $953,635 | |
John Campbell MD Neurosurgeon | 40 | $866,561 | |
Joel Strehl DO Surgeon | 40 | $798,570 | |
Justine Pearl MD Neurosurgeon | 40 | $769,813 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sound Physicians Medical | 6/29/22 | $7,954,967 |
Cardiothoracic Surgeons Gt Pc Medical | 6/29/22 | $6,891,285 |
Mayo Clinic Laboratories Laboratory | 6/29/22 | $5,151,879 |
Grand Traverse Oncology Hematol Medical | 6/29/22 | $4,743,448 |
Mary Free Bed Rehabilitation Hospit Rehabilitation | 6/29/22 | $3,482,973 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,877,904 |
| Investment income | $14,138,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $144,467 |
| Net Gain/Loss on Asset Sales | $30,653,726 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $385 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $752,883,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $470,142 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,905,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $229,084,933 |
| Pension plan accruals and contributions | $15,693,976 |
| Other employee benefits | $28,956,447 |
| Payroll taxes | $15,988,355 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,047 |
| Fees for services: Accounting | $30,695 |
| Fees for services: Lobbying | $19,611 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,721,063 |
| Fees for services: Other | $131,508,115 |
| Advertising and promotion | $30,614 |
| Office expenses | $3,436,534 |
| Information technology | $9,402,219 |
| Royalties | $0 |
| Occupancy | $7,402,764 |
| Travel | $152,715 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $626,363 |
| Interest | $5,644,212 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,941,956 |
| Insurance | $1,130,718 |
| All other expenses | $0 |
| Total functional expenses | $658,232,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,493 |
| Savings and temporary cash investments | $358,608,973 |
| Pledges and grants receivable | $999,022 |
| Accounts receivable, net | $92,319,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $122,670 |
| Inventories for sale or use | $14,195,225 |
| Prepaid expenses and deferred charges | $5,117,209 |
| Investments—publicly traded securities | $452,717,334 |
| Investments—other securities | $27,202,297 |
| Investments—program-related | $0 |
| Intangible assets | $280,000 |
| Other assets | $26,713,076 |
| Total assets | $1,240,001,316 |
| Accounts payable and accrued expenses | $78,001,807 |
| Grants payable | $0 |
| Deferred revenue | $2,989,721 |
| Tax-exempt bond liabilities | $137,877,639 |
| 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 | $197,738,712 |
| Total liabilities | $416,607,879 |
| 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 |
| Total liabilities and net assets/fund balances | $823,393,437 |
Grants Awarded
Over the last fiscal year, Munson Medical Center has awarded $430,806 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TRAVERSE HEALTH CLINIC & COALITION PURPOSE: MEDICALLY UNDERSERVE | $8,056 |
GOODWILL INDUSTRIES OF NORTHERN MI PURPOSE: COVID-19 | $422,750 |