International Falls Memorial Hospital Assn
- Assets
- $35.6m
- Revenue
- $35.0m
- Investments
- $643.6k
- Employees
- 240
- Location
- International Falls, MN
- Founding
- 03/1956
- Data as of
- 12/2022
- EIN
- 41-0726171
Organization Overview
International Falls Memorial Hospital Assn, operating under the name Rainy Lake Medical Center, is located in International Falls, MN. The organization was established in 1956. 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 12/2022, Rainy Lake Medical Center employed 240 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rainy Lake 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 12/2022, Rainy Lake Medical Center generated $35.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $33.5m during the year ending 12/2022. While expenses have increased by 4.0% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ACCESSIBLE, HIGH-QUALITY HEALTHCARE TO OUR COMMUNITIES.
Describe the Organization's Program Activity:
RAINY LAKE MEDICAL CENTER (RLMC) PROVIDES INPATIENT AND OUTPATIENT HOSPITAL SERVICES. IN 2022, RLMC HAD 1,999 INPATIENT DAYS AND HAD 5,885 EMERGENCY ROOM VISITS. IN ADDITION, RLMC PROVIDES GENERAL, ORTHOPEDIC, AND OPHTHALMOLOGY SURGERY, VARIOUS IMAGING MODALITIES, LABORATORY SERVICES, THERAPY SERVICES, AND OTHER HOSPITAL ANCILLARY SERVICES.
RLMC PROVIDES CLINIC BASED SERVICES AT TWO LOCATIONS, INTERNATIONAL FALLS, MN AND LITTLE FORK, MN. IN ADDITION TO PRIMARY CARE VISITS, A NUMBER OF SPECIALTY SERVICES ARE OFFERED SUCH AS RHEUMATOLOGY, ORTHOPEDIC, OB/GYN, DERMATOLOGY, OPTHALMOLOGY, AND ONCOLOGY. IN TOTAL, 12,692 CLINIC VISITS OCCURRED IN 2022.
IN ADDITION TO PROVIDING DIRECT PATIENT CARE AND IN FURTHERANCE OF ITS CHARITABLE PURPOSE, RLMC PROVIDES A WIDE VARIETY OF BENEFITS TO THE COMMUNITY INCLUDING OFFERING VARIOUS COMMUNITY BASED SERVICE PROGRAMS, CASH CONTRIBUTIONS TO NON-PROFIT AGENCIES, THE DONATION OF SPACE FOR USE BY COMMUNITY GROUPS, AND STAFF TIME TO MENTORING/JOB SHADOWING. ADDITIONALLY, A NUMBER OF HEALTH RELATED EDUCATION PROGRAMS ARE PROVIDED FOR THE BENEFIT OF THE COMMUNITY, INCLUDING HEALTH ENHANCEMENTS AND WELLNESS, CLASSES ON SPECIFIC CONDITIONS, AND PROGRAMS DESIGNED TO IMPROVE THE GENERAL STANDARDS OF THE HEALTH OF THE COMMUNITY. RLMC ALSO ACTIVELY PROMOTES ITS COMMUNITY CARE PROGRAM, WHICH PROVIDES FREE OR REDUCED COST HEALTHCARE TO PATIENTS WHO ARE UNABLE TO PAY FULLY FOR SERVICES RECEIVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Peterson Chair | OfficerTrustee | 4 | $0 |
Jon Talsness Vice Chair | OfficerTrustee | 4 | $0 |
Steven Lindberg Treasurer | OfficerTrustee | 4 | $0 |
Brian Briggs Secretary | OfficerTrustee | 4 | $0 |
Susan Congrave Member | Trustee | 4 | $0 |
Sherri Mannausau Member | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Acute Care Inc Physician Fees | 12/30/22 | $2,092,168 |
Rc Shefland Anesthesia Ltd Anesthesiologist Fees | 12/30/22 | $524,762 |
One Neck It Solutions Services | 12/30/22 | $487,290 |
Kraus Anderson Construction | 12/30/22 | $451,867 |
Sanford Health Providing Meal Service And Software Main | 12/30/22 | $363,887 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $66,973 |
| Government grants | $225,468 |
| All other contributions, gifts, grants, and similar amounts not included above | $396,518 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $688,959 |
| Total Program Service Revenue | $34,022,783 |
| Investment income | $208,339 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $73,118 |
| Net Gain/Loss on Asset Sales | -$126,061 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,022,338 |
| 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. | $512,914 |
| Compensation of current officers, directors, key employees. | $512,914 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,939,410 |
| Pension plan accruals and contributions | $240,476 |
| Other employee benefits | $1,637,616 |
| Payroll taxes | $909,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,566 |
| Fees for services: Accounting | $139,254 |
| Fees for services: Lobbying | $447 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,987,844 |
| Advertising and promotion | $94,213 |
| Office expenses | $63,856 |
| Information technology | $349,466 |
| Royalties | $0 |
| Occupancy | $466,251 |
| Travel | $41,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,129 |
| Interest | $208,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,480,372 |
| Insurance | $174,550 |
| All other expenses | $1,160,373 |
| Total functional expenses | $33,544,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,275,289 |
| Savings and temporary cash investments | $8,726,437 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,032,713 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $741,913 |
| Prepaid expenses and deferred charges | $542,797 |
| Net Land, buildings, and equipment | $12,941,714 |
| Investments—publicly traded securities | $5,891,672 |
| Investments—other securities | $643,613 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $838,087 |
| Total assets | $35,634,235 |
| Accounts payable and accrued expenses | $2,705,505 |
| Grants payable | $0 |
| Deferred revenue | $601,326 |
| 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 | $5,852,718 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,568,067 |
| Total liabilities | $10,727,616 |
| Net assets without donor restrictions | $24,594,393 |
| Net assets with donor restrictions | $312,226 |
| 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 | $35,634,235 |