Stewart Memorial Community Hospital
- Assets
- $46.4m
- Revenue
- $33.1m
- Investments
- $0.0
- Employees
- 295
- Location
- Lake City, IA
- Founding
- 04/1964
- Data as of
- 12/2022
- EIN
- 42-0860039
Organization Overview
Stewart Memorial Community Hospital is located in Lake City, IA. The organization was established in 1964. 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, Stewart Memorial Community Hospital employed 295 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stewart Memorial Community Hospital 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, Stewart Memorial Community Hospital generated $33.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $32.2m during the year ending 12/2022. While expenses have increased by 0.1% 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
990
Mission & Program ActivityExcerpts From the 990 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 LAKE CITY AND THE SURROUNDING COMMUNITIES WITHOUT REGARD FOR ABILITY TO PAY AND WITHOUT DISCRIMINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STEWART MEMORIAL COMMUNITY HOSPITAL IS A 25 BED CRITICAL ACCESS HOSPITAL THAT ALSO OPERATES 4 RURAL HEALTH CLINICS. STEWART MEMORIAL EMPLOYS 12 FAMILY PRACTICE PROVIDERS, 1 BEHAVIORAL HEALTH PROVIDER, 2 GENERAL SURGEONS AND 2 CRNAS. BESIDES OFFERING 24/7 EMERGENCY ROOM SERVICES, STEWART MEMORIAL ALSO PROVIDES GENERAL RADIOLOGY, CT SCANS, ULTRASOUND, MOBILE MRI, NUCLEAR SCANS, LABORATORY, BLOOD ADMINISTRATION, CARDIAC REHABILITATION, EKGS, RESPIRATORY THERAPY, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, SPEECH THERAPY, OPERATING ROOM, PHARMACY, INFUSIONS AND OBSTETRICS. DURING 2022, STEWART MEMORIAL HAD 1,006 ACUTE PATIENT DAYS, 2,328 EMERGENCY ROOM VISITS, 1,410 OPERATING ROOM PROCEDURES AND 35,923 CLINIC ENCOUNTERS.
THE OPERATING AND RECOVERY ROOMS DEPARTMENT PROVIDE GENERAL SURGICAL AND ORTHOPEDIC PROCEDURES ALONG WITH PROCEDURES FOR ENT, CATARACT AND PODIATRY. THE SUPPLIES USED IN SUCH PROCEDURES ACCOUNT FOR A LARGE PORTION OF EXPENSES.
STEWART MEMORIAL COMMUNITY HOSPITAL OWNS AND OPERATES RURAL HEALTH CLINICS IN THE COMMUNITIES OF LAKE CITY, GOWRIE, LAKE VIEW AND ROCKWELL CITY. WE EMPLOY 15 PROVIDERS WHICH ARE COMPOSED OF PHYSICIANS, PHYSICIAN ASSISTANTS AND NURSE PRACTITIONERS, THEY PROVIDE MEDICAL PROFESSIONAL SERVICES TO MEMBERS OF THESE COMMUNITIES AND SURROUNDING AREAS IN A DESIGNATED HEALTH PROFESSIONAL SHORTAGE AREA.
THE LABORATORY DEPARTMENT PROVIDES INPATIENT, OUTPATIENT AND EMERGENCY TESTING FOR PATIENTS OF STEWART MEMORIAL COMMUNITY HOSPITAL. IT ALSO PROVIDE SERVICES TO THE MCCRARY-ROST CLINIC IN LAKE CITY. REAGENT AND SALARY COSTS OF PERSONNEL ACCOUNT FOR THE MAJORITY OF THE DEPARTMENT'S EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Susan Hornback Medical Counsel | Trustee | 40 | $946,422 |
Derek Duncan D.o. | 40 | $754,255 | |
Josh Smith D.o. | 40 | $572,416 | |
Ronald Cheney D.o. | 40 | $478,404 | |
James Lewis D.o. | 40 | $236,957 | |
Jeremy Johnson Arnp | 40 | $228,031 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wapiti Medical Staffing Er Coverage | 12/30/22 | $259,210 |
Shared Medical Services Inc Mobile Mri Services | 12/30/22 | $205,215 |
Medical Solutions Llc Staffing Services | 12/30/22 | $304,065 |
Locum Tenenscom Llc Er & Obstetrics Coverage | 12/30/22 | $200,736 |
Barton & Associates Inc Ob Nursing & Rhc Providers Coverage | 12/30/22 | $178,388 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $38,585 |
| Related organizations | $0 |
| Government grants | $1,479,876 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,570,104 |
| Total Program Service Revenue | $30,859,895 |
| Investment income | $74,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $313,711 |
| Net Gain/Loss on Asset Sales | $47,630 |
| Net Income from Fundraising Events | -$500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,079,779 |
| 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. | $1,188,010 |
| Compensation of current officers, directors, key employees. | $207,259 |
| Compensation to disqualified persons | $39,277 |
| Other salaries and wages | $14,754,303 |
| Pension plan accruals and contributions | $338,402 |
| Other employee benefits | $2,351,203 |
| Payroll taxes | $961,061 |
| Fees for services: Management | $454,160 |
| Fees for services: Legal | $108,052 |
| Fees for services: Accounting | $107,747 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,180 |
| Fees for services: Other | $3,497,705 |
| Advertising and promotion | $133,441 |
| Office expenses | $1,356,759 |
| Information technology | $728,385 |
| Royalties | $0 |
| Occupancy | $418,485 |
| Travel | $154,982 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,556,394 |
| Insurance | $183,191 |
| All other expenses | $0 |
| Total functional expenses | $32,182,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,413 |
| Savings and temporary cash investments | $1,831,007 |
| Pledges and grants receivable | $225,492 |
| Accounts receivable, net | $2,631,291 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $93,334 |
| Inventories for sale or use | $438,443 |
| Prepaid expenses and deferred charges | $42,962 |
| Net Land, buildings, and equipment | $34,143,925 |
| Investments—publicly traded securities | $2,811,562 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,047,727 |
| Total assets | $46,408,156 |
| Accounts payable and accrued expenses | $5,194,132 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $24,162,571 |
| Other liabilities | $185,310 |
| Total liabilities | $29,542,013 |
| Net assets without donor restrictions | $14,909,428 |
| Net assets with donor restrictions | $1,956,715 |
| 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 | $46,408,156 |