Monument Health Network Inc
- Assets
- $148.3m
- Revenue
- $173.2m
- Investments
- $1.4m
- Employees
- 1,297
- Location
- Rapid City, SD
- Founding
- 12/1981
- Data as of
- 06/2020
- EIN
- 46-0360899
Organization Overview
Monument Health Network Inc is located in Rapid City, SD. The organization was established in 1981. 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 06/2021, Monument Health Network Inc employed 1,297 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Monument Health Network Inc 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 06/2020, Monument Health Network Inc generated $173.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $169.8m during the year ending 06/2020. While expenses have increased by 1.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
MONUMENT HEALTH NETWORK IS DEDICATED TO IMPROVING THE HEALTH OF INDIVIDUALS AND OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONUMENT HEALTH NETWORK (MHN) OWNS THE FOLLOWING ACUTE CARE HOSPITALS (INCLUDING PHYSICIAN CLINICS) AND SENIOR CARE FACILITIES; MONUMENT HEALTH CUSTER HOSPITAL (CAH)/ MONUMENT HEALTH CUSTER SENIOR CARE, MONUMENT HEALTH LEAD-DEADWOOD HOSPITAL, MONUMENT HEALTH SPEARFISH HOSPITAL AND MONUMENT HEALTH STURGIS HOSPITAL / MONUMENT HEALTH STURGIS SENIOR CARE. MHN ALSO OWNS, LEASES AND OPERATES PROVIDER BASED PHYSICIAN CLINICS IN BELLE FOURCHE, SPEARFISH, LEAD, STURGIS & CUSTER. IN ADDITION, MHN OPERATES FREE STANDING CLINICS IN HOT SPRINGS, BUFFALO, AND NEWCASTLE & UPTON, WYOMING. TOGETHER, THESE FACILITIES PROVIDE COMMON ACCESS TO COMPASSIONATE, QUALITY, ADVANCED HEALTH CARE THROUGH ITS NUMEROUS HEALING ENVIRONMENTS TO THE GREATER BLACK HILLS REGION.
SPH SURGICAL SERVICESSPEARFISH MONUMENT HOSPITAL'S SURGERY DEPARTMENT OFFERS THE FOLLOWING SURGICAL SPECIALTIES: ORTHOPEDICS, OB/GYN, GENERAL SURGERY, ENT, PODIATRY, DERMATOLOGY AND OPHTHALMOLOGY.
SPH 10TH STREET PRIMARY CARESPEARFISH MONUMENT HOSPITAL'S MEDICAL CLINIC IS A HOSPITAL OUTPATIENT DEPARTMENT PROVIDING PRIMARY CARE. IT HAS A TOTAL OF 47.89 FULL TIME EQUIVALENTS. THIS HOSPITAL OUTPATIENT DEPARTMENT HAD 44,662 ENCOUNTERS THROUGHOUT THE YEAR.
SPH ORTHOPEDIC SURGERYSPEARFISH MONUMENT HOSPITAL'S ORTHOPEDIC CLINIC IS A SURGERY DEPARTMENT OFFERING GENERAL SURGERY AND ORTHOPEDIC SURGERY USING STATE-OF-THE-ART SURGICAL METHODS USING THE MOST ADVANCED EQUIPMENT. THE PRIMARY FOCUS IS ON TOTAL JOINTS: KNEE, HIP AND SHOULDER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ray Jensen MD Physician - Orthopedic Surgery | 40 | $1,539,383 | |
Richard Little MD Physician - Orthopedic Surgery | 40 | $1,093,096 | |
Garrett Cox MD Physician - Radiologist | 40 | $946,203 | |
Andrew Vanosdol MD Physician - Surgery | 40 | $871,014 | |
Heather Brewer MD Board Member/employed Physician | Trustee | 40 | $732,549 |
Jessica Donnermd Physician -Clinical Care | 40 | $716,464 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medefis Contract Labor | 6/29/21 | $2,808,279 |
Weatherby Locums Inc Contract Labor | 6/29/21 | $1,465,002 |
Morrison Management Specialist Inc Professional Services | 6/29/21 | $1,394,072 |
Health Carousel Llc Contract Labor | 6/29/21 | $435,334 |
Crothall Healthcare Professional Services | 6/29/21 | $790,347 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,333 |
| Investment income | -$23,681 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,916 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $173,170,795 |
| Statement of Expenses | |
|---|---|
| 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. | $1,468,550 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,212,418 |
| Pension plan accruals and contributions | $1,393,046 |
| Other employee benefits | $16,842,514 |
| Payroll taxes | $4,623,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $118,704 |
| Fees for services: Accounting | $28,100 |
| Fees for services: Lobbying | $22,848 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,811,930 |
| Advertising and promotion | $141,208 |
| Office expenses | $2,600,729 |
| Information technology | $684,951 |
| Royalties | $0 |
| Occupancy | $5,062,325 |
| Travel | $376,742 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $401,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,144,089 |
| Insurance | $758,333 |
| All other expenses | $0 |
| Total functional expenses | $169,778,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,269 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,050,923 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,330,716 |
| Prepaid expenses and deferred charges | $922,574 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,379,570 |
| Investments—program-related | $0 |
| Intangible assets | $54,656 |
| Other assets | $54,503,129 |
| Total assets | $148,333,045 |
| Accounts payable and accrued expenses | $50,662,584 |
| 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 | $43,000,232 |
| Total liabilities | $93,662,816 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $54,670,229 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Monument Health Network Inc has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $250 |
Endowment Analysis
| Beg. Balance | $152,792 |
| Earnings | $39,003 |
| Ending Balance | $191,795 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Cloud Hospital St Cloud, MN | $1,702,572,092 | $1,117,982,242 |
Monument Health Rapid City Hospital Inc Rapid City, SD | $1,522,340,119 | $951,840,989 |
Regions Hospital Minneapolis, MN | $1,151,249,927 | $936,558,758 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,114,579,485 | $904,841,538 |
Central Iowa Hospital Corporation Des Moines, IA | $1,438,981,448 | $937,321,371 |
North Memorial Health Care Robbinsdale, MN | $764,114,547 | $789,881,568 |
Bryan Medical Center Lincoln, NE | $1,105,625,709 | $861,679,038 |
Smdc Medical Center Duluth, MN | $1,099,340,280 | $663,367,068 |
Altru Health System Grand Forks, ND | $1,039,192,012 | $613,611,037 |
Nebraska Methodist Hospital Omaha, NE | $1,027,583,192 | $637,277,838 |
St Lukes Hospital Of Duluth Duluth, MN | $424,508,169 | $537,764,798 |
Benefis Hospitals Inc Great Falls, MT | $1,107,455,974 | $564,158,876 |