Aspirus Medical Group Inc
- Assets
- $105.6m
- Revenue
- $116.1m
- Investments
- $0.0
- Employees
- 1,579
- Location
- Wausau, WI
- Founding
- 11/1994
- Data as of
- 06/2022
- EIN
- 39-1670223
Organization Overview
Aspirus Medical Group Inc is located in Wausau, WI. The organization was established in 1994. According to its NTEE Classification (E32) the organization is classified as: Community Clinics, under the broad grouping of Health Care and related organizations. As of 06/2022, Aspirus Medical Group Inc employed 1,579 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspirus Medical Group 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 06/2022, Aspirus Medical Group Inc generated $116.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $142.8m during the year ending 06/2022. While expenses have increased by 5.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE HEAL PEOPLE, PROMOTE HEALTH, AND STRENGTHEN COMMUNITIES.
Describe the Organization's Program Activity:
TO PROVIDE HEALTH CARE AND EDUCATION SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY. THE COMPANY PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS COMMUNITY CARE POLICY WITHOUT CHARGE FROM 7/1/2021 TO 6/30/22. THE ESTIMATED COST OF PROVIDING CARE TO PATIENTS UNDER ACI'S COMMUNITY CARE POLICY AGGREGATED APPROXIMATELY $810,580.58 IN FISCAL YEAR 2022. THE COST WAS CALCULATED BY MULTIPLYING THE RATIO OF COST TO GROSS CHARGES FOR ACI TIMES THE GROSS UNCOMPENSATED CHARGES ASSOCIATED WITH PROVIDING THE COMMUNITY CARE. THE CLINIC EMPLOYED 165 FTE PROVIDERS WHO HAD 322,429 VISITS FROM PATIENTS. THE CLINIC ALSO PROVIDES SERVICES TO BENEFICIARIES OF THE MEDICARE AND MEDICAID PROGRAMS WHICH OFTEN REIMBURSE THE CLINIC BASED ON PREDETERMINED FEE SCHEDULES WHICH ARE OFTEN BELOW THE COST OF PROVIDING CARE TO THESE INDIVIDUALS. THESE PROGRAMS REPRESENT A LARGE PORTION OF THE ELDERLY, LOW INCOME, AND DISABLED MEMBERS OF THE COMMUNITY WHO NEED ACCESS TO HIGH QUALITY CARE. DURING FISCAL YEAR 2022, MEDICARE AND MEDICAID PROGRAMS MADE UP APPROXIMATELY 57.3% OF GROSS PATIENT REVENUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Cygan MD Board Member/physician | Trustee | 40 | $1,135,180 |
Krista Scharer MD Board Member/physician | Trustee | 40 | $231,782 |
Lawernce G Leibert MD Board Member/physician | Trustee | 40 | $448,124 |
Michael Umland MD Board Member/physician | Trustee | 40 | $326,592 |
Tou Shoua Lor MD Board Member/physician | Trustee | 40 | $288,855 |
Randy L Balk Vice Chair (thru Oct. '21) | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wausau Heart And Lung Surgeons Physician Services | 6/29/22 | $4,070,485 |
Renovo Solutions Llc Asset Management | 6/29/22 | $470,005 |
Accent Services Inc Cleaning Services | 6/29/22 | $351,807 |
Weatherby Locums Inc Physician Services | 6/29/22 | $286,376 |
Shared Medical Services Inc Mri Services | 6/29/22 | $252,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,806,544 |
| 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 | $1,806,544 |
| Total Program Service Revenue | $114,120,216 |
| Investment income | $17,694 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $148,380 |
| Net Gain/Loss on Asset Sales | -$5,082 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $116,087,752 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,105 |
| 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. | $3,321,838 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,525,010 |
| Pension plan accruals and contributions | $2,312,688 |
| Other employee benefits | $8,993,996 |
| Payroll taxes | $3,184,503 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,839 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $5,497 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,500,502 |
| Advertising and promotion | $7,396 |
| Office expenses | $407,050 |
| Information technology | $44,325 |
| Royalties | $0 |
| Occupancy | $3,686,513 |
| Travel | $501,809 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,133 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,210,721 |
| Insurance | $319,565 |
| All other expenses | $1,914,714 |
| Total functional expenses | $142,819,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,074 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,578,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,385,264 |
| Prepaid expenses and deferred charges | $370,815 |
| Net Land, buildings, and equipment | $15,719,791 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,880,571 |
| Intangible assets | $4,506,241 |
| Other assets | $66,045,067 |
| Total assets | $105,621,013 |
| Accounts payable and accrued expenses | $35,404,638 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $5,049,158 |
| 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 | $66,606,283 |
| Total liabilities | $107,060,079 |
| Net assets without donor restrictions | -$1,439,066 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $105,621,013 |
Grants Awarded
Over the last fiscal year, Aspirus Medical Group Inc has awarded $26,675 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PERFORMING ARTS FOUNDATION PURPOSE: ASPIRUS ARTS IN EDUCATION SERIES SPONSORSHIP | $5,000 |
UNITED WAY OF MARATHON COUNTY PURPOSE: sponsorship | $21,675 |