Mercy Medical Center is located in Cedar Rapids, 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 06/2022, Mercy Medical Center employed 2,962 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mercy 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 06/2022, Mercy Medical Center generated $418.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $412.8m during the year ending 06/2022. While expenses have increased by 4.4% 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.
Since 2015, Mercy Medical Center has awarded 168 individual grants totaling $59,137,962. 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
TO CARE FOR THE SICK AND ENHANCE THE HEALTH OF THE COMMUNITIES WE SERVE, GUIDED BY THE SPIRIT OF THE SISTERS OF MERCY.
Describe the Organization's Program Activity:
THE HOSPITAL PROVIDES MEDICAL HEALTH CARE, INCLUDING 24 HOURS A DAY, SEVEN DAYS A WEEK TRAUMA CENTER SERVICE, TO ALL PATIENTS ACCESSING THE SYSTEM, REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE OR ABILITY TO PAY. A PATIENT IS CLASSIFIED AS A CHARITY PATIENT BY REFERENCE TO CERTAIN ESTABILISHED POLICIES OF THE HOSPITAL. ESSENTIALLY, THESE POLICIES DEFINE CHARITY SERVICES AS THOSE SERVICES FOR WHICH NO OR NOMINAL PAYMENT IS ANTICIPATED. ADDITIONALLY, EACH HOSPITAL DEPARTMENT ACCEPTS ALL PATIENTS WHO ARE COVERED BY GOVERNMENTAL INDIGENT PROGRAMS. SUCH INDIGENT PROGRAMS TYPICALLY REMIT AMOUNTS SUBSTANTIALLY LESS THAN CHARGES. THE FOLLOWING SUMMARIZES THE HOSPITAL'S CARE OF THE UNINSURED AND UNDERINSURED. COSTS IN EXCESS OF MEDICARE REIMBURSEMENT (COSTS OF PROVIDING THE SERVICES LESS THE AMOUNTS RECEIVED FROM MEDICARE) - $28,080,000; OTHER COMMUNITY BENEFITS (INCLUDES SUBSIDIZED HEALTH SERVICES, FINANCIAL CONTRIBUTIONS) - $2,298,000; FREE SERVICE (TO PATIENTS WHO MEET MERCY'S FREE-SERVICE GUIDELINES) - $4,990,000; COSTS IN EXCESS OF MEDICAID REIMBURSEMENT (COSTS OF PROVIDING THE SERVICES LESS THE AMOUNTS RECEIVED FROM MEDICAID) - $12,580,000, PHYSICIAN EDUCATION - $(1,119,000). IN ADDITION, CHARITY CARE AND COMMUNITY SERVICE ARE PROVIDED THROUGH MANY REDUCED-PRICE SERVICES AND FREE PROGRAMS OFFERED THROUGHOUT THE YEAR. THESE PROGRAMS PROVIDE A BONA FIDE COMMUNITY HEALTH NEED, INCLUDING: A. PUBLIC AND PROFESSIONAL EDUCATIONAL SEMINAR ARE OFFERED ON A VARIETY OF TOPICS INCLUDING JOINT REPLACEMENT SURGERY, PRENATAL EDUCATION, DIABETES, MENTAL HEALTH DISORDERS, AND NUMEROUS OTHER MEDICAL CONDITIONS OF MEDICAL AND PSYCHOSOCIAL NATURE. SPECIALIZED CANCER SEMINARS ARE ALSO OFFERED. B. HOSPITAL MEETING FACILITIES WHICH ARE FREQUENTLY USED WITHOUT CHARGE BY SUCH GROUPS AS THE AMERICAN HEART ASSOCIATION, IOWA BREAST CANCER FOUNDATION, HEALTHY LINN NETWORK ADVISORY COMMITTEE, OVEREATERS ANONYMOUS, CATHOLIC LAYMEN, UNITED WAY, CATHERINE MCAULEY CENTER FOR WOMEN, THE AMERICAN CANCER SOCIETY. M.S. SUPPORT GROUP, EASTERN IOWA ONCOLOGY NURSES SOCIETY, THE IOWA CANCER CONSORTIUM, THE PARENT EDUCATION CONSORTIUM, ARC OF EAST CENTRAL IOWA, AND SEVERAL OTHER GROUPS. C. CONTRIBUTIONS OF APPROXIMATELY 76,185 HOURS TOWARD THE COMMON PURPOSE OF SERVING THE HEALTH CARE OF THE COMMUNITY. THE VALUE OF THESE CONTRIBUTIONS WAS APPROXIMATELY $1,106,244 AND WAS GIVEN BACK TO THE COMMUNITY THROUGH LOWER COSTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Timothy L Charles President & Chief Executive Officer | OfficerTrustee | 40 | $1,289,481 |
John-Paul Besong Member Board Of Trustees | Trustee | 1 | $0 |
Lydia Brown Member Board Of Trustees | Trustee | 1 | $0 |
Michele Busse Member Board Of Trustees | Trustee | 1 | $0 |
Bob Cataldo Member Board Of Trustees | Trustee | 1 | $0 |
Chris Dewolf Member Board Of Trustees | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
University Of Iowa Health Care Healthcare Professional Services | 6/29/22 | $4,973,836 |
Sound Physicians Healthcare Professional Services | 6/29/22 | $4,691,077 |
Oncology Associates Of Cedar Rapids Healthcare Professional Services | 6/29/22 | $4,604,157 |
Trimedx Maintain And Repair Medical Equpment | 6/29/22 | $4,308,077 |
Weatherby Locums Inc Healthcare Professional Services | 6/29/22 | $3,316,289 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $6,624,071 |
Government grants | $4,100,673 |
All other contributions, gifts, grants, and similar amounts not included above | $836,893 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $11,561,637 |
Total Program Service Revenue | $390,702,891 |
Investment income | $8,728,793 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$66,054 |
Net Gain/Loss on Asset Sales | $7,924,317 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$369,423 |
Miscellaneous Revenue | $0 |
Total Revenue | $418,379,415 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $10,528,954 |
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. | $3,142,880 |
Compensation of current officers, directors, key employees. | $651,925 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $168,981,425 |
Pension plan accruals and contributions | $3,541,077 |
Other employee benefits | $19,489,146 |
Payroll taxes | $10,456,380 |
Fees for services: Management | $0 |
Fees for services: Legal | $198,592 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $32,511 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $130 |
Fees for services: Other | $33,619,897 |
Advertising and promotion | $1,615,361 |
Office expenses | $101,984,949 |
Information technology | $752,969 |
Royalties | $0 |
Occupancy | $5,689,907 |
Travel | $119,927 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $120,312 |
Interest | $4,301,678 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $22,568,567 |
Insurance | $1,321,861 |
All other expenses | $5,168,978 |
Total functional expenses | $412,756,686 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $17,782,892 |
Savings and temporary cash investments | $185,218 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $50,303,565 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $767,990 |
Inventories for sale or use | $9,318,928 |
Prepaid expenses and deferred charges | $10,040,012 |
Net Land, buildings, and equipment | $170,436,971 |
Investments—publicly traded securities | $305,967,083 |
Investments—other securities | $0 |
Investments—program-related | $151,198,015 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $716,000,674 |
Accounts payable and accrued expenses | $70,418,461 |
Grants payable | $0 |
Deferred revenue | $2,551,082 |
Tax-exempt bond liabilities | $108,015,768 |
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 | $28,777,843 |
Total liabilities | $209,763,154 |
Net assets without donor restrictions | $433,319,726 |
Net assets with donor restrictions | $72,917,794 |
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 | $716,000,674 |
Over the last fiscal year, Mercy Medical Center has awarded $8,236,225 in support to 19 organizations.
Grant Recipient | Amount |
---|---|
MERCYCARE SERVICE CORPORATION PURPOSE: FOR USE IN CONTINUING OPERATIONS | $6,750,000 |
MERCY HOSPITAL CEDAR RAPIDS IA ENDOWMENT FOUNDATION PURPOSE: FOR USE IN CONTINUING OPERATIONS | $1,218,025 |
WILLIS DADY EMERGENCY SHELTER INC PURPOSE: GENERAL SUPPORT | $45,000 |
JUNIOR ACHIEVEMENT PURPOSE: GENERAL SUPPORT | $25,700 |
MATTHEW 25 PURPOSE: GENERAL SUPPORT | $25,000 |
ESPECIALLY FOR YOU RACE AGAINST BREAST CANCER PURPOSE: GENERAL SUPPORT | $20,000 |