Southeast Iowa Regional Medical Center Inc
- Assets
- $268.9m
- Revenue
- $370.7m
- Investments
- $22.6m
- Employees
- 2,310
- Location
- West Burlington, IA
- Founding
- 03/1922
- Data as of
- 06/2022
- EIN
- 42-0680407
Organization Overview
Southeast Iowa Regional Medical Center Inc is located in West Burlington, IA. The organization was established in 1922. 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 06/2022, Southeast Iowa Regional Medical Center Inc employed 2,310 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeast Iowa Regional Medical Center 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, Southeast Iowa Regional Medical Center Inc generated $370.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $516.7m during the year ending 06/2022. While expenses have increased by 16.7% 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.
Since 2016, Southeast Iowa Regional Medical Center Inc has awarded 41 individual grants totaling $177,232,909. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING THE REGION'S HEALTH BY PROVIDING HIGH-QUALITY HEALTH CARE.
Describe the Organization's Program Activity:
SOUTHEAST IOWA REGIONAL MEDICAL CENTER (SIRMC) IS A TWO CAMPUS HOSPITAL. ONE IS LOCATED IN FORT MADISON, IOWA, A 50 BED HOSPTIAL AND THE OTHER IS LOCATED IN WEST BURLINGTON, IOWA, IS A 378-BED REGIONAL MEDICAL CENTER OFFERING ACUTE AND INTERMEDIATE CARE TO RESIDENTS OF SOUTHEAST IOWA, WEST CENTRAL ILLINOIS AND NORTHEAST MISSOURI. THE HOSPITAL OFFERS COMPREHENSIVE MEDICAL, EXTENSIVE SURGICAL, AND EMERGENCY CARE SERVICES. DURING FISCAL YEAR ENDING 6/30/22, SIRMC HAD 7,359 PATIENT ADMISSIONS AND 66,483 PATIENT DAYS OF MEDICAL CARE. SIRMC ALSO HAD 187,801 OUTPATIENT VISITS, 44,384 EMERGENCY ROOM VISITS AND 12,393 HOME HEALTH-CARE VISITS. SIRMC PROVIDES MEDICAL SERVICES REGARDLESS OF ABILITY TO PAY AND ACCEPTS MEDICARE AND MEDICAID.THE HOSPITAL'S 160-BED KLEIN CENTER OFFERS LONG-TERM AND SKILLED CARE ON THE HOSPITAL'S CAMPUS. THE CANCER CENTER, WHICH PROVIDES MEDICAL AND RADIATION THERAPY SERVICES FOR THE TREATMENT OF VARIOUS FORMS OF CANCER AND BLOOD DISEASES, OFFERS THE LATEST THREE-DIMENSIONAL TREATMENT-PLANNING COMPUTER TECHNOLOGY AVAILABLE IN ONLY A FEW HEALTH-CARE CENTERS IN THE STATE. THE WELLNESS PLAZA IS HOME TO ONE OF THE STATE'S PREMIER REHABILITATION AND FITNESS PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Wenzel President/ceo | OfficerTrustee | 24 | $0 |
Jeremy Alexander CFO | Officer | 40 | $0 |
Louis Kanzavelos Physician | 40 | $583,990 | |
Georgi Grekoff Physician | 40 | $493,442 | |
Richard To Physician | 40 | $416,697 | |
Brent Woodbury Physician | 40 | $408,137 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mutual Consulting & Mgmt Svc Inc Executive Management | 6/29/22 | $5,515,394 |
Wapiti Medical Group Lc Staffing Agency | 6/29/22 | $3,095,669 |
Aya Healthcare Inc Staffing Agency | 6/29/22 | $1,837,806 |
Trusted Health Inc Staffing Agency | 6/29/22 | $1,642,829 |
Kindred Rehab Group Management Services Rehabilitation Program Mgmt Services | 6/29/22 | $1,180,594 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $45,662,026 |
| Government grants | $5,615,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,524,240 |
| Noncash contributions included in lines 1a–1f | $44,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,801,561 |
| Total Program Service Revenue | $307,954,230 |
| Investment income | $550,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $442,232 |
| Net Gain/Loss on Asset Sales | $324,304 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $370,717,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $168,393,959 |
| 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. | $1,814,136 |
| Compensation of current officers, directors, key employees. | $1,814,136 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,822,517 |
| Pension plan accruals and contributions | $4,510,992 |
| Other employee benefits | $11,233,065 |
| Payroll taxes | $9,797,416 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,077,190 |
| Fees for services: Accounting | $98,748 |
| Fees for services: Lobbying | $31,441 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,028,318 |
| Advertising and promotion | $0 |
| Office expenses | $1,227,937 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,533,405 |
| Travel | $231,306 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,167,299 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,821,104 |
| Insurance | $4,844,528 |
| All other expenses | $4,452,432 |
| Total functional expenses | $516,694,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $889,137 |
| Savings and temporary cash investments | $7,767,411 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,286,511 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,965,515 |
| Inventories for sale or use | $3,892,615 |
| Prepaid expenses and deferred charges | $2,347,973 |
| Net Land, buildings, and equipment | $166,953,617 |
| Investments—publicly traded securities | $15,396,363 |
| Investments—other securities | $22,577,831 |
| Investments—program-related | $3,349,029 |
| Intangible assets | $524,292 |
| Other assets | $915,000 |
| Total assets | $268,865,294 |
| Accounts payable and accrued expenses | $27,730,445 |
| Grants payable | $0 |
| Deferred revenue | $119,076 |
| Tax-exempt bond liabilities | $33,259,156 |
| 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 | $26,388,365 |
| Total liabilities | $87,497,042 |
| Net assets without donor restrictions | $170,307,714 |
| Net assets with donor restrictions | $11,060,538 |
| 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 | $268,865,294 |
Grants Awarded
Over the last fiscal year, Southeast Iowa Regional Medical Center Inc has awarded $168,290,987 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
LEE COUNTY ECONOMIC DEVELOPMENT PURPOSE: SUPPORT COMMUNITY ENHANCEMENT AND WORKFORCE DEVELOPMENT | $10,000 |
ART GUILD OF BURLINGTON PURPOSE: SUPPORT COMMUNITY ENHANCEMENT | $6,325 |
FORT MADISON ECONOMIC DEVELOPMENT PURPOSE: SUPPORT COMMUNITY ENHANCEMENT AND WORKFORCE DEVELOPMENT | $10,000 |
TRI STATE RODEO PURPOSE: PROMOTE COMMUNITY ACTIVE LIFESTYLE | $10,000 |
GREAT RIVER HEALTH SYSTEM INC PURPOSE: TRANSFER DUE TO MERGER | $1,550,000 |
HENRY COUNTY HEALTH CENTER INC PURPOSE: TRANSFER DUE TO MERGER | $2,106,366 |