Froedtert Thedacare Health Inc
- Assets
- $3.2b
- Revenue
- $955.8m
- Investments
- $13.1k
- Employees
- 14,718
- Location
- Milwaukee, WI
- Founding
- 05/2001
- Data as of
- 06/2022
- EIN
- 39-2014409
Organization Overview
Froedtert Thedacare Health Inc is located in Milwaukee, WI. The organization was established in 2001. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2022, Froedtert Thedacare Health Inc employed 14,718 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Froedtert Thedacare Health 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, Froedtert Thedacare Health Inc generated $955.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $843.7m during the year ending 06/2022. While expenses have increased by 12.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FROEDTERT HEALTH, INC. ADVANCES THE HEALTH OF THE PEOPLE OF THE DIVERSE COMMUNITIES WE SERVE THROUGH EXCEPTIONAL CARE ENHANCED BY INNOVATION AND DISCOVERY.
Describe the Organization's Program Activity:
HEALTH CARE MANAGEMENT SERVICES IN SUPPORT OF FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC., FROEDTERT HEALTH NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH PHARMACY SOLUTIONS, FROEDTERT HEALTH HOME INFUSION, VERTU RX, FROEDTERT HEALTH PHARMACY, AND FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS.
IT SUPPORT EXPENSE - 94,651,893INPATIENT EXPENSE - 2,331,848EMERGENCY DPT EXPENSE - 50,632,294 TOTAL EXPENSE - 147,616,035 IT SUPPORT REVENUE - 94,651,893INPATIENT REVENUE - 2,551,394EMERGENCY DPT REVENUE - 55,399,393JT VENTURE REVENUE - 19,901,052 TOTAL REVENUE - 172,503,732
HUMAN RESOURCE/STAFF SUPPORT TO FROEDTERT MEMORIAL LUTHERAN HOSPITAL, INC., COMMUNITY MEMORIAL HOSPITAL OF MENOMONEE FALLS, INC., ST. JOSEPH'S COMMUNITY HOSPITAL OF WEST BEND, INC., FROEDTERT HEALTH NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH PHARMACY SOLUTIONS, FROEDTERT HEALTH HOME INFUSION, VERTU RX, FROEDTERT HEALTH PHARMACY, AND FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS.
OUTPATIENT REVENUE AND EXPENSE OF FROEDTERT NEIGHBORHOOD HOSPITAL, FROEDTERT HEALTH PHARMACY SOLUTIONS, FROEDTERT HEALTH HOME INFUSION, VERTU RX, WEST BEND SURGERY CENTER, AND FROEDTERT HEALTH PHARMACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacobson Catherine Director & Ceo/president | OfficerTrustee | 48 | $3,449,724 |
Behl Mark Director & Evp/fh COO | Trustee | 48 | $1,424,699 |
Bechthold Kurt D Director | Trustee | 1 | $0 |
Berkes Mary Beth Director | Trustee | 1 | $0 |
Block Bruce T Director | Trustee | 1 | $0 |
Chini Marc Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medical College Of Wi Professional Service | 6/29/22 | $253,378,594 |
Rightsourcing Inc Professional Service | 6/29/22 | $29,534,034 |
Milwaukee Regional Medical Center-flight Professional Service | 6/29/22 | $18,449,838 |
Ma Mortenson Professional Service | 6/29/22 | $11,151,408 |
Ryan Companies Us Inc Professional Service | 6/29/22 | $10,590,375 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $828,107,584 |
| Investment income | $47,589,746 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,982,895 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $955,789,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $17,740,745 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $197,772,272 |
| Pension plan accruals and contributions | $53,346,875 |
| Other employee benefits | $170,950,294 |
| Payroll taxes | $14,988,615 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,500,404 |
| Fees for services: Accounting | $520,672 |
| Fees for services: Lobbying | $2,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,736,025 |
| Advertising and promotion | $15,627,612 |
| Office expenses | $12,555,027 |
| Information technology | $3,460,880 |
| Royalties | $0 |
| Occupancy | $15,492,483 |
| Travel | $622,583 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $977,096 |
| Interest | $11,137,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,740,764 |
| Insurance | $12,904,798 |
| All other expenses | $15,625,173 |
| Total functional expenses | $843,708,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,312 |
| Savings and temporary cash investments | $95,368,779 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,256,386 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $75,870,662 |
| Inventories for sale or use | $21,353,477 |
| Prepaid expenses and deferred charges | $26,013,140 |
| Net Land, buildings, and equipment | $390,091,774 |
| Investments—publicly traded securities | $2,082,792,723 |
| Investments—other securities | $13,128 |
| Investments—program-related | $256,744,106 |
| Intangible assets | $4,425,830 |
| Other assets | $270,254,568 |
| Total assets | $3,249,193,885 |
| Accounts payable and accrued expenses | $272,761,795 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $646,237,947 |
| Escrow or custodial account liability | $149,574 |
| 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 | $465,427,613 |
| Total liabilities | $1,384,576,929 |
| Net assets without donor restrictions | $1,864,616,956 |
| 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 | $3,249,193,885 |