Mercy Hospital Foundation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

Dan Childers

Phone

5166779740

Tax Period

2023-07-01 to 2024-01-23

Mercy Hospital Foundation, founded in 1969, is a community nonprofit that reported $1.8M in total revenue in fiscal year 2023. Revenue surged 156% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 75% operating margin.

Mission

Generate private support for Mercy Hospital, Iowa City ("Mercy"); manage, invest and disburse funds with regard to donor's intentions.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

Mercy Hospital Foundation ("The Foundation") supported the operations of Mercy Hospital, Iowa City as it navigated the bankruptcy process.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $34,140

Program Service Revenue $0

Investment Income $1,773,523

Other Revenue $0

TOTAL REVENUE $1,807,663

Expense Breakdown

Grants Paid $0

Salaries & Benefits $150,972

Fundraising Expenses $0

Other Expenses $300,251

TOTAL EXPENSES $451,223

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,807,663	$707,239	+1.6%
Expenses	$451,223	$489,874	-0.1%
Net Income	$1,356,440	$217,365	+5.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$742,418

Total Directors

$934,435

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tom Clancy	CEO & Administrator (End 10/23)	1.00	Officer Director	$0	$5,317	$321,021
Kim Volk	Board Member (Beg 10/23)	1.00	Director	$0	$34,341	$286,063
Lisa Steigleder	President	40.00	Officer Director	$0	$32,649	$205,135
Denice Connell	Board Member/Treasurer (Beg 10/23)	1.00	Officer Director	$0	$0	$0
Jim Porter	Treasurer (End 10/23)	1.00	Officer Director	$0	$0	$0
Steven Anderson	Chair (Beg 10/23)	1.00	Officer Director	$0	$0	$0
Todd Jacobson	Secretary (Beg 10/23)	1.00	Officer Director	$0	$0	$0
Tor Nicklaus	Secretary/Chair-Elect (Beg 10/23)	1.00	Officer Director	$0	$0	$0
Ann Perino	Board Member	1.00	Director	$0	$0	$0
Kim Casko	Board Member (End 10/23)	1.00	Director	$0	$0	$0
Lynn Skopec	Chair (End 10/23)/Board Member	1.00	Officer Director	$0	$0	$0
Patricia Heiden	Board Member (End 10/23)	1.00	Director	$0	$0	$0
Scott Fisher	Board Member (End 10/23)	1.00	Director	$0	$0	$0
Stephen Scheckel	Board Member (End 10/23)	1.00	Director	$0	$0	$0
Dawna Miller	Treasurer	1.00	Officer Director	$0	$0	$122,216
Stuart Elkin	Asst. Treas. (End 5/23)	1.00	Officer	$0	$7,879	$94,046

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,807,663	$451,223	No data	$1,356,440
2023	$707,239	$489,874	$18,337,472	$217,365
2022	$1,099,741	$1,739,521	$16,632,605	$-639,780
2021	$2,217,603	$1,532,672	$20,800,860	$684,931
2020	$859,435	$1,181,063	$16,783,497	$-321,628
2019	$3,837,065	$1,217,077	$17,543,906	$2,619,988
2018	$1,374,242	$1,197,856	$17,681,840	$176,386