Spencer Regional Healthcare Foundation
- Assets
- $22.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Spencer, IA
- Founding
- 09/1994
- Data as of
- 06/2021
- EIN
- 42-1416816
Organization Overview
Spencer Regional Healthcare Foundation is located in Spencer, IA. The organization was established in 1994. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spencer Regional Healthcare Foundation 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, Spencer Regional Healthcare Foundation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $129.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT THE ENHANCEMENT OF HEALTH CARE TECHNOLOGIES AND PROGRAMS IN THE REGION SERVED BY SPENCER MUNICIPAL HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DISBURSEMENTS ARE FOR THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES WHICH BENEFIT AND SUPPORT MEDICAL AND HEALTH CARE SERVICES FOR PERSONS IN THE REGION SERVED BY SPENCER MUNICIPAL HOSPITAL. FUNDS HAVE BEEN USED BY THE DONEE TO PURCHASE DESIGNATED MEDICAL EQUIPMENT, OTHER MEDICAL ITEMS AND PROGRAMS USED FOR THE DELIVERY OF MEDICAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Kunzmann Treasurer | OfficerTrustee | 1 | $0 |
Pat Reno President | OfficerTrustee | 1 | $0 |
Wes Simpson Vice President | OfficerTrustee | 1 | $0 |
John Cotton Director | Trustee | 1 | $0 |
Marcia Ramstack Director | Trustee | 1 | $0 |
Bill Bumgarner Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $544,629 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $544,629 |
| Total Program Service Revenue | $0 |
| Investment income | $467,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $365,816 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,430,626 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $95,596 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,493 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $682 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $129,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $793,471 |
| Pledges and grants receivable | $66,957 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,126,735 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,222,114 |
| Total assets | $22,209,277 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $7,141,478 |
| Total liabilities | $7,141,478 |
| Net assets without donor restrictions | $15,034,341 |
| Net assets with donor restrictions | $33,458 |
| 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 | $22,209,277 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Spencer Regional Healthcare Foundation has recieved totaling $31,948.
| Awarding Organization | Amount |
|---|---|
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION | $26,478 |
Frontstream Global Fund Alexandria, VA PURPOSE: Use by the organization's general fund | $5,121 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $349 |
Endowment Analysis
| Beg. Balance | $6,905,071 |
| Earnings | $982,346 |
| Net Contributions | $572,052 |
| Grants | $263,286 |
| Ending Balance | $8,196,183 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ascension Via Christi Health Inc St Louis, MO | $224,688,914 | $97,145,070 |
Hospital & Medical Foundation Of Paris Inc Paris, IL | $105,317,026 | $88,599,305 |
Nebraska Methodist Health System Inc Omaha, NE | $1,257,543,382 | $79,579,701 |
Mercy Health Southwest Missouri Kansas Communities Joplin, MO | $10,110,095 | $51,629,462 |
Memorial Health System Springfield, IL | $156,520,865 | $97,418,294 |
Glencoe Regional Health Services Glencoe, MN | $129,617,347 | $77,673,503 |
Sanford Sioux Falls, SD | $665,368,621 | $12,274,166 |
Benedictine Health System Minneapolis, MN | $153,472,496 | $53,035,199 |
Alabama Providence Healthcare Services St Louis, MO | $11,011,126 | $32,937,947 |
Wheaton Franciscan Healthcare-Iowa Inc Waterloo, IA | $26,954,347 | $50,265,958 |
Wheaton Franciscan Healthcare - Southeast Wisconsin Inc St Louis, MO | $170,280,677 | $49,335,705 |
Centracare Health System-Long Prairie Long Prairie, MN | $62,306,209 | $40,776,847 |