Sioux Valley Memorial Hospital Association
- Assets
- $80.0m
- Revenue
- $49.1m
- Investments
- $0.0
- Employees
- 393
- Location
- Cherokee, IA
- Founding
- 06/1940
- Data as of
- 12/2022
- EIN
- 42-0707096
Organization Overview
Sioux Valley Memorial Hospital Association, operating under the name Cherokee Regional Medical Center, is located in Cherokee, IA. The organization was established in 1940. 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, Cherokee Regional Medical Center employed 393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherokee Regional 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, Cherokee Regional Medical Center generated $49.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $46.0m during the year ending 12/2022. While expenses have increased by 7.2% 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
TO PROVIDE A COMPLETE CONTINUUM OF HEALTHCARE SERVICES TO THE PEOPLE OF CHEROKEE AND SURROUNDING COMMUNITIES WITHOUT REGARD FOR THE ABILITY TO PAY, AND WITHOUT DISCRIMINATION.
Describe the Organization's Program Activity:
THE ORGANIZATION IS A CRITICAL ACCESS HOSPITAL WITH 25 ACUTE BEDS. THE ORGANIZATION PROVIDES ACUTE AND ANCILLARY SERVICES TO INDIVIDUALS IN AN INPATIENT AND OUTPATIENT SETTING. IN ADDITION, THE ORGANIZATION OPERATES SEVERAL PHYSICIAN'S CLINICS, A SENIOR HOUSING INDEPENDENT LIVING CENTER, AND A WELLNESS CENTER. DURING 2022, THE ORGANIZATION PROVIDED 1,743 DAYS OF ACUTE CARE, 216 DAYS OF SKILLED NURSING CARE, 7 DAYS OF INTERMEDIATE CARE, 176 NURSERY DAYS, AND 60,507 OUTPATIENT OCCASIONS OF SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clay Leavitt Chairperson | OfficerTrustee | 1 | $0 |
Brandon Henke Vice-Chairperson | OfficerTrustee | 1 | $0 |
Kellen Ludvigson Secretary/treasurer | OfficerTrustee | 1 | $0 |
Kerry Hurd Director | Trustee | 1 | $0 |
Les Todd Director | Trustee | 1 | $0 |
Sheila Trapp Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Locum Tenens Ob-gyn Coverage | 12/30/22 | $684,031 |
Adel Abdalla Pllc Radiology Services | 12/30/22 | $667,115 |
Medical Solutions Medical Staffing | 12/30/22 | $560,748 |
Highland Medical Staffing Medical Staffing | 12/30/22 | $480,750 |
Unitimed Recruiting Resources Medical Staffing | 12/30/22 | $480,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,970,931 |
| All other contributions, gifts, grants, and similar amounts not included above | $748,914 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,719,845 |
| Total Program Service Revenue | $43,574,884 |
| Investment income | $254,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $537,419 |
| Net Gain/Loss on Asset Sales | $2,930 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,085,974 |
| 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. | $3,099,438 |
| Compensation of current officers, directors, key employees. | $543,312 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,982,126 |
| Pension plan accruals and contributions | $683,983 |
| Other employee benefits | $2,445,169 |
| Payroll taxes | $1,265,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,184 |
| Fees for services: Accounting | $50,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $200,788 |
| Office expenses | $0 |
| Information technology | $313,289 |
| Royalties | $0 |
| Occupancy | $806,458 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,718,301 |
| Insurance | $270,060 |
| All other expenses | $0 |
| Total functional expenses | $46,037,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $28,225,330 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,039,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $921,861 |
| Prepaid expenses and deferred charges | $721,958 |
| Net Land, buildings, and equipment | $26,624,758 |
| Investments—publicly traded securities | $10,470,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,027,111 |
| Total assets | $80,030,785 |
| Accounts payable and accrued expenses | $5,407,462 |
| Grants payable | $0 |
| Deferred revenue | $70,465 |
| 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 | $71,861 |
| Other liabilities | $0 |
| Total liabilities | $5,549,788 |
| Net assets without donor restrictions | $74,098,481 |
| Net assets with donor restrictions | $382,516 |
| 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 | $80,030,785 |