Holy Family Memorial Inc
- Assets
- $64.0m
- Revenue
- $51.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Manitowoc, WI
- Founding
- 05/1937
- Data as of
- 06/2021
- EIN
- 39-0806395
Organization Overview
Holy Family Memorial Inc is located in Manitowoc, WI. The organization was established in 1937. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Holy Family Memorial Inc 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, Holy Family Memorial Inc generated $51.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $61.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.9%) per year over the past 7 years. 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
HEALTH CARE SERVICESHOLY FAMILY MEMORIAL (HFM) IS A NETWORK OF HEALTH PROFESSIONALS WHO, ROOTED IN THE HEALING MINISTRY OF JESUS CHRIST, PROVIDE SERVICES TO HELP INDIVIDUALS AND OUR COMMUNITIES ACHIEVE HEALTHIER LIVES. HFM PROVIDES ACUTE, OUTPATIENT, CLINIC, HOME CARE AND HOSPICE SERVICES FOR MANITOWOC COUNTY, STRIVING FOR MEDICAL EXCELLENCE AND VALUED OUTCOMES WITHIN A COMPASSIONATE, VALUES BASED, CHRISTIAN ENVIRONMENT.
Describe the Organization's Program Activity:
HOLY FAMILY MEMORIAL IS AN INTEGRATED NETWORK PROVIDING HEALTH CARE SERVICES INTENDED TO BENEFIT THE HEALTH AND WELLBEING OF THE COMMUNITIES IT SERVES. THESE SERVICES INCLUDE PRIMARY AND SPECIALTY CLINIC CARE, PREVENTIVE CARE SUCH AS HEALTH SCREENINGS, VACCINATION CLINICS AND HEALTH EDUCATION CLASSES, 24/7 EMERGENCY CARE, WALK-IN, INPATIENT ACUTE CARE, OUTPATIENT CARE, HOME CARE AND HOSPICE, PRESCRIPTIONS, OCCUPATIONAL HEALTH SERVICES, AND MEDICALLY BASED FITNESS AND WELLNESS. HOLY FAMILY MEMORIAL HAS BEEN ABLE TO ACHIEVE A GREATER IMPACT IN THE COMMUNITY BY PARTNERING FINANCIAL, HUMAN AND PROGRAMMATIC RESOURCES WITH OTHER ORGANIZATIONS. (CONTINUED ON SCHEDULE O)THESE PARTNERSHIPS INCLUDE A COMMITMENT TO COLLABORATE WITH OTHER HEALTH AND SOCIAL SERVICE AGENCIES TO IMPROVE ACCESS TO CARE, FOCUS ON PREVENTIVE SERVICES, REDUCE COMMUNITY HEALTH RISKS, AND CONTRIBUTE TO A HEALTHIER, VIBRANT COMMUNITY. HOLY FAMILY MEMORIAL PROVIDES MEDICALLY NECESSARY SERVICES WITHOUT CHARGE OR AT AMOUNTS LESS THAN ITS ESTABLISHED RATES TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS CHARITY CARE POLICIES. IN ASSESSING A PATIENT'S ABILITY TO PAY, HFM UTILIZES GENERALLY RECOGNIZED POVERTY INCOME LEVELS OF THE COMMUNITIES IT SERVES, AND CONSIDERS SITUATIONS WHERE INCURRED CHARGES ARE SIGNIFICANT WHEN COMPARED TO THE PATIENT'S FINANCIAL RESOURCES. BECAUSE HFM DOES NOT EXPECT TO RECEIVE PAYMENT OF AMOUNTS DETERMINED TO QUALIFY AS CHARITY CARE, THESE AMOUNTS ARE NOT INCLUDED IN NET PATIENT SERVICE REVENUES. HOLY FAMILY MEMORIAL'S TOTAL COMMUNITY BENEFIT INCLUDES THE COST OF CHARITY CARE AND UNPAID COST OF PUBLIC PROGRAMS (MEDICARE AND MEDICAID) AS WELL AS THOSE DISCUSSED ABOVE. HOLY FAMILY MEMORIAL'S COMMUNITY BENEFIT WAS APPROXIMATELY $16,816,000 FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2021. THIS AMOUNT INCLUDES THE NET COST OF CHARITY CARE OF APPROXIMATELY $85,000. MORE INFORMATION IS AVAILABLE FROM OUR COMMUNITY BENEFIT REPORT WHICH IS LOCATED ON OUR WEBSITE AT WWW.HFMHEALTH.ORG.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle L Birschbach Vice Chair | OfficerTrustee | 2 | $0 |
Marilynn A Kaufmann PHD RN Chair | OfficerTrustee | 2 | $0 |
Brett W Norell Director, President, CEO | OfficerTrustee | 40 | $0 |
Sister Nancy Kinate Secretary | OfficerTrustee | 2 | $0 |
Chuck Krueger Treasurer | OfficerTrustee | 2 | $0 |
Steve Little Director, Senior VP | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xtend Healthcare Llc Billing Services | 12/30/20 | $3,620,221 |
Medical Solutions Llc Temporary Staffing | 12/30/20 | $1,870,885 |
Completerx Ltd Pharmacy Services | 12/30/20 | $979,025 |
All Star Recruiting Locums Llc Temporary Staffing | 12/30/20 | $662,256 |
Cerner Corporation It Services | 12/30/20 | $715,957 |
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 | $46,893 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,893 |
| Total Program Service Revenue | $48,806,173 |
| Investment income | $1,345,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,549 |
| Net Gain/Loss on Asset Sales | $1,518,984 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $162 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,828,608 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,309 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,274,983 |
| Compensation of current officers, directors, key employees. | $295,379 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,142,521 |
| Pension plan accruals and contributions | $368,624 |
| Other employee benefits | $4,103,793 |
| Payroll taxes | $1,577,025 |
| Fees for services: Management | $243,483 |
| Fees for services: Legal | $399,042 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,844,568 |
| Advertising and promotion | $99,589 |
| Office expenses | $449,364 |
| Information technology | $1,964,232 |
| Royalties | $0 |
| Occupancy | $930,651 |
| Travel | $68,159 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,802 |
| Interest | $253,412 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,264,695 |
| Insurance | $660,848 |
| All other expenses | $1,289,747 |
| Total functional expenses | $61,896,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,625,058 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,386,170 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,983,857 |
| Prepaid expenses and deferred charges | $5,652,295 |
| Net Land, buildings, and equipment | $20,997,630 |
| Investments—publicly traded securities | $16,222,060 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,000 |
| Total assets | $64,042,070 |
| Accounts payable and accrued expenses | $13,578,384 |
| Grants payable | $0 |
| Deferred revenue | $76,192 |
| 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 | $9,310,412 |
| Total liabilities | $22,964,988 |
| Net assets without donor restrictions | $37,102,195 |
| Net assets with donor restrictions | $3,974,887 |
| 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 | $64,042,070 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Holy Family Memorial Inc has recieved totaling $53.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $53 |
Endowment Analysis
| Beg. Balance | $3,888,220 |
| Earnings | $111,690 |
| Net Contributions | $14,813 |
| Other Expense | $39,836 |
| Ending Balance | $3,974,887 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fort Madison Community Hospital West Burlington, IA | $0 | $63,917,889 |
Gibson Area Hospital Gibson City, IL | $63,536,615 | $119,801,214 |
Mymichigan Medical Center Sault Sault Ste Marie, MI | $104,046,577 | $126,853,788 |
St Nicholas Hospital Of The Hospita Sisters Of The Third Order Of St F Sheboygan, WI | $160,864,409 | $138,043,178 |
Holy Cross Hospital Chicago, IL | $142,348,563 | $113,770,792 |
Winona Health Services Winona, MN | $149,374,764 | $114,059,975 |
Beaver Dam Community Hospitals Inc Beaver Dam, WI | $193,989,750 | $109,285,462 |
Jennie Edmundson Memorial Hospital Council Bluffs, IA | $159,830,825 | $120,935,401 |
Ottawa Regional Hospital & Healthcare Center Peoria, IL | $91,725,518 | $145,777,119 |
St Bernard Hospital Chicago, IL | $104,253,183 | $104,812,040 |
Prohealth Oconomowoc Memorial Hospital Inc Oconomowoc, WI | $128,184,799 | $110,175,380 |
Mcgaw Medical Center Of Northwestern University Chicago, IL | $21,606,214 | $109,728,056 |