Northeast Iowa Real Estate Investments Ltd

THE ORGANIZATION PROVIDES REAL ESTATE RENTALS FOR THE SUPPORT AND BENEFIT OF HEALTH CARE INSTITUTIONS SERVING NORTHEAST IOWA.

MERCYONE NORTHEAST IOWA IS A FAITH-BASED 511-BED, NOT-FOR-PROFIT, COMPREHENSIVE MEDICAL/SURGICAL HEALTH CARE PROVIDER OFFERING ACUTE LEVELS OF MEDICAL CARE AT COVENANT MEDICAL CENTER IN WATERLOO, SARTORI MEMORIAL HOSPITAL IN CEDAR FALLS, AND MERCY HOSPITAL IN OELWEIN. ITS SERVICES IN THE REGION ALSO INCLUDE COVENANT CLINIC WITH MORE THAN 100 PRIMARY CARE AND SPECIALTY PROVIDERS; COVENANT FOUNDATION, SARTORI HEALTH CARE FOUNDATION AND MERCY HOSPITAL FOUNDATION. AREAS OF EXCELLENCE INCLUDE CARDIOLOGY, ORTHOPEDICS, NEUROSURGERY, MATERNITY AND NICU, CANCER TREATMENT, MINIMALLY INVASIVE AND BARIATRIC SURGERY. THE IOWA OPERATIONS HAVE BEEN PART OF A 140 YEAR SYSTEM OF CARE SPONSORED BY THE WHEATON FRANCISCAN SISTERS, FORMERLY INCORPORATED IN 1983. IN 2016, THE WHEATON FRANCISCAN SISTERS TRANSFERRED THEIR IOWA OPERATIONS TO MERCY HEALTH NETWORK, AN IOWA-BASED HEALTH CARE SYSTEM BASED OUT OF DES MOINES, IOWA. MERCY HEALTH NETWORK (MHN) IS AN INTEGRATED SYSTEM OF MEMBER HOSPITALS AND OTHER HEALTH AND PATIENT CARE FACILITIES UNITED INTO ONE OPERATING ORGANIZATION TO IMPROVE THE DELIVERY OF HEALTHCARE SERVICES TO THE PEOPLE OF IOWA AND ADJOINING STATES. MHN'S SPONSORS OWN AND OPERATE MEDICAL CENTERS AND OTHER SERVICES IN CLINTON, DES MOINES, DUBUQUE, MASON CITY, AND SIOUX CITY, AND COMMUNITY HOSPITALS IN SIX OTHER LOCATIONS. IN ADDITION, MHN HAS 27 MEMBERS WHO PARTICIPATE THROUGH CONTRACTS FOR MANAGEMENT AND OTHER SERVICES. MERCY HEALTH NETWORK (MHN) WAS FOUNDED IN 1998 UNDER A JOINT OPERATING AGREEMENT BETWEEN TWO OF THE LARGEST CATHOLIC, NOT-FOR-PROFIT HEALTH ORGANIZATIONS IN THE UNITED STATES: CATHOLIC HEALTH INITIATIVES, BASED IN ENGLEWOOD, COLORADO, AND TRINITY HEALTH, BASED IN LIVONIA, MICHIGAN. COVENANT MEDICAL CENTER IN WATERLOO, IOWA WAS FOUNDED IN 1986 WHEN WHEATON FRANCISCAN SERVICES CONSOLIDATED ST. FRANCIS HOSPITAL (FOUNDED IN 1912) AND SCHOITZ MEDICAL CENTER (FOUNDED IN 1904). COVENANT MEDICAL CENTER WAS LOCATED IN TWO LOCATIONS UNTIL 1991 WHEN ALL ACUTE CARE SERVICES WERE COMBINED AT ONE SITE. THE OTHER SITE WAS TRANSFORMED INTO AN ASSISTED LIVING CENTER AND ADULT SERVICES CENTER. IN 1995, WHEATON FRANCISCAN SERVICES' IOWA REGION WAS RENAMED COVENANT HEALTH SYSTEM AND INCLUDED COVENANT MEDICAL CENTER IN WATERLOO, COVENANT FOUNDATION IN WATERLOO, MERCY HOSPITAL IN OELWEIN, N. E. IOWA REAL ESTATE INVESTMENTS AND SCHOITZ HEALTH RESOURCES. SARTORI MEMORIAL HOSPITAL BECAME A PART OF COVENANT HEALTH SYSTEM IN 1996 WHEN THE SYSTEM ENTERED A LONG-TERM LEASE AGREEMENT WITH THE CITY OF CEDAR FALLS. IN 2006, COVENANT HEALTH SYSTEM WAS RENAMED WHEATON FRANCISCAN HEALTHCARE-IOWA, TO REFLECT ITS CONTINUED COMMITMENT TO AN INTEGRATED HEALTH CARE DELIVERY SYSTEM FOR RESIDENTS OF NORTHEAST IOWA. TODAY MERCYONE NORTHEAST IOWA INCLUDES COVENANT MEDICAL CENTER (AND ITS UNINCORPORATED DIVISION, COVENANT CLINIC) AND COVENANT FOUNDATION IN WATERLOO, MERCY HOSPITAL IN OELWEIN, SARTORI MEMORIAL HOSPITAL AND SARTORI HEALTH CARE FOUNDATION IN CEDAR FALLS, AND N. E. IOWA REAL ESTATE INVESTMENTS. MERCYONE NORTHEAST IOWA ENTITIES: HOSPITALS COVENANT MEDICAL CENTER, INC. MERCY HOSPITAL OF FRANCISCAN SISTERS, INC. SARTORI MEMORIAL HOSPITAL, INC. COVENANT CLINIC, AN UNINCORPORATED DIVISION OF COVENANT MEDICAL CENTER, INC. PATIENTS HAVE ACCESS TO MORE THAN 100 PRIMARY AND SPECIALTY CARE PHYSICIANS, PHYSICIAN ASSISTANTS, NURSE PRACTITIONERS, AND OTHER HEALTH CARE PROFESSIONALS LOCATED THROUGHOUT NORTHEAST IOWA IN 24 LOCATIONS. REGIONAL SERVICE LINES COVENANT CARDIOLOGY COVENANT CANCER TREATMENT CENTER COVENANT CLINIC ORTHOPEDIC SERVICES COVENANT HOME HEALTH EMERGENCY SERVICES IMAGING/RADIOLOGY SERVICES IOWA SPINE AND BRAIN INSTITUTE MIDWEST INSTITUTE OF ADVANCED LAPAROSCOPIC SURGERY MATERNAL CHILD HEALTH OCCUPATIONAL MEDICINE AND WELLNESS COVENANT RETAIL PHARMACIES REHABILITATION SERVICES PHILANTHROPIC FOUNDATIONS COVENANT FOUNDATION, INC. SARTORI HEALTH CARE FOUNDATION, INC. MERCYONE NORTHEAST IOWA COMMUNITY IMPACT IN IOWA / 2022 CHARITY CARE: $2,624,319. CHARITY CARE IS DEFINED AS FREE OR DISCOUNTED HEALTH SERVICES PROVIDED TO THOSE WHO CANNOT AFFORD TO PAY AND WHO MEET ALL CRITERIA FOR FINANCIAL ASSISTANCE. CHARITY CARE IS BASED ON COSTS, NOT CHARGES, AND DOES NOT INCLUDE BAD DEBT. UNREIMBURSED COST OF PUBLIC PROGRAMS: $13,926,783. UNREIMBURSED COST OF PUBLIC PROGRAMS IS DEFINED AS THE SHORTFALL EXPERIENCED WHEN PAYMENTS RECEIVED ARE BELOW THE COST OF TREATING PUBLIC BENEFICIARIES THROUGH MEDICAID AND OTHER LOCAL PUBLIC PROGRAMS. COMMUNITY HEALTH IMPROVEMENT SERVICES: $2,152,780. COMMUNITY HEALTH IMPROVEMENT SERVICES ARE DEFINED AS CLINICAL AND NON-CLINICAL SERVICES DESIGNED TO IMPROVE COMMUNITY HEALTH, WHICH ARE PROVIDED TO THE COMMUNITY FOR FREE OR FOR FEES THAT DID NOT COVER COSTS. FINANCIAL CONTRIBUTIONS: $195,981. FINANCIAL CONTRIBUTIONS ARE DEFINED AS CONTRIBUTIONS, INCLUDING CASH, NON-CASH ITEMS SUCH AS FOOD, FURNITURE, EQUIPMENT, SUPPLIES, AND LOANED STAFF FOR VOLUNTEER AND CHARITABLE PURPOSES, MADE TO INDIVIDUALS, COMMUNITY GROUPS, OR NONPROFIT ORGANIZATIONS FOR CHARITABLE PURPOSES. HEALTH PROFESSIONS EDUCATION: $1,671,519. HEALTH PROFESSIONS EDUCATION IS DEFINED AS DIRECT COSTS INCURRED FOR ACCREDITED TRAINING AND EDUCATION PROGRAMS FOR PHYSICIANS, NURSES, ALLIED HEALTH PROFESSIONALS AND TECHNICIANS (DOES NOT INCLUDE ONGOING EDUCATION FOR STAFF). COMMUNITY BUILDING ACTIVITIES: $10,527. COMMUNITY BUILDING ACTIVITIES ARE DEFINED AS PROGRAMS THAT, WHILE NOT DIRECTLY RELATED TO HEALTH CARE, PROVIDE OPPORTUNITIES TO ADDRESS THE ROOT CAUSES OF HEALTH PROBLEMS, SUCH AS POVERTY, HOMELESSNESS, AND ENVIRONMENTAL ISSUES. COSTS FOR THESE ACTIVITIES INCLUDE CASH AND IN-KIND DONATIONS. COMMUNITY BENEFIT OPERATIONS: $89,303. COMMUNITY BENEFIT OPERATIONS ARE DEFINED AS COSTS ASSOCIATED WITH DEDICATED STAFF AND COMMUNITY HEALTH NEEDS AND/OR ASSETS ASSESSMENT, AS WELL AS OTHER COSTS ASSOCIATED WITH COMMUNITY BENEFIT STRATEGY AND OPERATIONS. SUBSIDIZED HEALTH SERVICES: $3,414,557. SUBSIDIZED HEALTH SERVICES ARE DEFINED AS THE NEGATIVE MARGIN FOR CLINICAL SERVICES THAT ARE PROVIDED DESPITE A FINANCIAL LOSS BECAUSE OF AN IDENTIFIED COMMUNITY NEED THAT WOULD NEED TO BE MET BY THE GOVERNMENT OR ANOTHER NOT-FOR-PROFIT IF IT WAS NOT OFFERED. THE FINANCIAL LOSSES ARE SO SIGNIFICANT THAT NEGATIVE MARGINS REMAIN AFTER REMOVING THE EFFECTS OF CHARITY CARE, BAD DEBT, AND MEDICAID SHORTFALLS. TOTAL BENEFIT TO THE COMMUNITY FOR IOWA 2022: $24,085,769.