Westbrook Health Center
- Assets
- $3.1m
- Revenue
- $176.4k
- Investments
- $758.6k
- Employees
- 0
- Location
- Westbrook, MN
- Founding
- 04/1953
- Data as of
- 04/2023
- EIN
- 41-0734756
Organization Overview
Westbrook Health Center is located in Westbrook, MN. The organization was established in 1953. 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. Westbrook Health 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 04/2023, Westbrook Health Center generated $176.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $199.9k during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FACILITIES FOR THE USE OF A RURAL COMMUNITY HOSPITAL AND CLINIC. OPERATING EXPENSES PAID FOR FACILITIES & MED EQUIPMENT INCLUDE INTEREST & DEPRECIATION.
TO PROMOTE QUALIFIED MEDICAL DOCTORS. ONE DOCTOR HAS BEEN RECRUITED TO SERVE THIS SMALL RURAL HOSPITAL. MED EDUCATION LOANS ARE FORGIVEN ANNUALLY BASED ON SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nate Knakmuhs President | 1 | $0 | |
Alex Johnson Vice President | 1 | $0 | |
Wendy Knakmuhs Director | 1 | $0 | |
Steve Kjorness Director | 1 | $0 | |
Brady Krueger Director | 1 | $0 | |
Kelly Quade Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,681 |
| Dividends & Interest | $32,699 |
| Net Rental Income | $140,000 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $176,380 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $15,861 |
| Taxes | $0 |
| Depreciation | $162,570 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $16,986 |
| Total operating and administrative expenses | $199,942 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $199,942 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,080 |
| Savings and temporary cash investments | $569,085 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $380,087 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,388,091 |
| Other assets | $21,834 |
| Total assets | $3,122,820 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $367,475 |
| Other liabilities | $0 |
| Total liabilities | $367,475 |