Catholic Health Initiatives-Iowa Corp
- Assets
- $1.1b
- Revenue
- $904.8m
- Investments
- $342.6m
- Employees
- 6,014
- Location
- Des Moines, IA
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 42-0680448
Organization Overview
Catholic Health Initiatives-Iowa Corp, operating under the name Mercy Medical Center - Des Moines, is located in Des Moines, IA. The organization was established in 1946. 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 06/2021, Mercy Medical Center - Des Moines employed 6,014 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mercy Medical Center - Des Moines 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 06/2021, Mercy Medical Center - Des Moines generated $904.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $863.1m during the year ending 06/2021. While expenses have increased by 2.5% per year over the past 6 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 2015, Mercy Medical Center - Des Moines has awarded 242 individual grants totaling $506,554,367. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CATHOLIC HEALTH INITIATIVES - IOWA CORP IS A NOT-FOR-PROFIT CATHOLIC HEALTH CARE ORGANIZATION CREATING HEALTHIER COMMUNITIES THROUGH THE OPERATION OF A 802-BED ACUTE CARE HOSPITAL.
Describe the Organization's Program Activity:
SEE SCHEDULE H
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Varnum Div SVP Cao-Chief Integration | 40 | $1,093,363 | |
Michael Wegner Interim CEO Of Chi Iowa Corp (partial Year) | 40 | $1,013,647 | |
David Hockmuth Cardiothoracic Surgeon | 40 | $911,460 | |
Mark Tannenbaum Director/physician | Trustee | 40 | $857,867 |
Mudassir Malik Cardiologist | 40 | $779,536 | |
Kent Carr Svp-Physician Enterprise | 40 | $733,780 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rcg Des Moines Acute Medical Services | 6/29/21 | $2,428,333 |
Healthcare Realty Services Inc Real Estate Services | 6/29/21 | $7,811,988 |
Amn Healthcare Medical Services | 6/29/21 | $2,050,438 |
Waldinger Corp Mechanical Contractor | 6/29/21 | $2,192,211 |
Medical Staffing Solution Medical Services | 6/29/21 | $1,940,216 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,483,519 |
| Government grants | $22,089,577 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,004,412 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,577,508 |
| Total Program Service Revenue | $757,312,685 |
| Investment income | $4,322,857 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,566,961 |
| Net Gain/Loss on Asset Sales | $22,032,538 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $904,841,538 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $55,276,848 |
| 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. | $3,959,792 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $263,875,876 |
| Pension plan accruals and contributions | $12,932,553 |
| Other employee benefits | $29,341,630 |
| Payroll taxes | $17,611,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $34,302 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $142,195,367 |
| Advertising and promotion | $3,225,355 |
| Office expenses | $10,369,170 |
| Information technology | $39,723,692 |
| Royalties | $0 |
| Occupancy | $21,605,553 |
| Travel | $549,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,061 |
| Interest | $4,341,648 |
| Payments to affiliates | $7,949,112 |
| Depreciation, depletion, and amortization | $42,206,910 |
| Insurance | $6,305,832 |
| All other expenses | $3,041,489 |
| Total functional expenses | $863,053,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,574 |
| Savings and temporary cash investments | $152,323,561 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $132,688,553 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $507,486 |
| Inventories for sale or use | $24,606,206 |
| Prepaid expenses and deferred charges | $2,626,221 |
| Net Land, buildings, and equipment | $369,709,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $342,551,914 |
| Investments—program-related | $0 |
| Intangible assets | $4,080,015 |
| Other assets | $85,470,246 |
| Total assets | $1,114,579,485 |
| Accounts payable and accrued expenses | $154,141,560 |
| Grants payable | $0 |
| Deferred revenue | $5,316,355 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $210,272,440 |
| Total liabilities | $369,730,355 |
| Net assets without donor restrictions | $744,849,130 |
| 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 | $1,114,579,485 |
Grants Awarded
Over the last fiscal year, Catholic Health Initiatives-Iowa Corp has awarded $55,233,037 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $49,945,182 |
Des Moines, IA PURPOSE: PROGRAM SUPPORT | $2,850,000 |
Des Moines, IA PURPOSE: COMMUNITY SUPPORT | $1,983,196 |
Centerville, IA PURPOSE: PROGRAM SUPPORT | $196,191 |
Des Moines, IA PURPOSE: COMMUNITY SUPPORT | $50,000 |
Des Moines, IA PURPOSE: COMMUNITY SUPPORT | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Catholic Health Initiatives-Iowa Corp has recieved totaling $75,000.
| Awarding Organization | Amount |
|---|---|
Iowa Heart Foundation West Des Moines, IA PURPOSE: CARDIOLOGY FELLOWSHIP PROGRAM | $75,000 |
Endowment Analysis
| Beg. Balance | $4,066,102 |
| Earnings | $734,495 |
| Net Contributions | $278 |
| Grants | $13,265 |
| Ending Balance | $4,787,610 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Lukes Hospital Of Kansas City Kansas City, MO | $1,771,100,748 | $1,070,641,998 |
Saint Thomas West Hospital St Louis, MO | $949,679,305 | $1,081,181,844 |
St Cloud Hospital St Cloud, MN | $1,702,572,092 | $1,117,982,242 |
Mercy Hospital Springfield Springfield, MO | $547,925,906 | $1,115,699,805 |
Ascension St John Hospital St Louis, MO | $469,518,860 | $965,978,781 |
Advocate North Side Health Network Downers Grove, IL | $946,824,836 | $901,672,521 |
The Carle Foundation Hospital Urbana, IL | $465,988,906 | $1,085,020,210 |
Monument Health Rapid City Hospital Inc Rapid City, SD | $1,522,340,119 | $951,840,989 |
Ssm Healthcare Of Oklahoma Inc St Louis, MO | $640,999,933 | $906,998,301 |
Regions Hospital Minneapolis, MN | $1,151,249,927 | $936,558,758 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,114,579,485 | $904,841,538 |
Central Iowa Hospital Corporation Des Moines, IA | $1,438,981,448 | $937,321,371 |