ASPIRUS IRONWOOD HOSPITAL & CLINIC… - Form 990 Financial Data

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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

1989

Legal Domicile

Principal Officer

MATTHEW HEYWOOD

Phone

9069322525

Tax Period

2024-07-01 to 2025-06-30

ASPIRUS IRONWOOD HOSPITAL & CLINICS INC, founded in 1989, is a mid-sized nonprofit in the Health Care sector that reported $92.9M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $82.3M left a modest 11% surplus.

Mission

WE HEAL PEOPLE, PROMOTE HEALTH, AND STRENGTHEN COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $62,281,797 Revenue: $92,574,619

ASPIRUS IRONWOOD HOSPITAL AND CLINICS IS A 25-BED CRITICAL ACCESS HOSPITAL WHICH PROVIDES HEALTH CARE SERVICES TO RESIDENTS OF IRONWOOD, MICHIGAN AND ITS SURROUNDING COMMUNITIES INCLUDING NORTHERN...

ASPIRUS IRONWOOD HOSPITAL AND CLINICS IS A 25-BED CRITICAL ACCESS HOSPITAL WHICH PROVIDES HEALTH CARE SERVICES TO RESIDENTS OF IRONWOOD, MICHIGAN AND ITS SURROUNDING COMMUNITIES INCLUDING NORTHERN WI. SOME OF THE SERVICES PROVIDED BEYOND TRADITIONAL INPATIENT HOSPITALIZATIONS INCLUDE SURGERY, EMERGENCY CARE, RADIOLOGY, LABORATORY, THERAPIES, EYE CARE, ONCOLOGY, AND CARDIOLOGY, AMONG VARIOUS OTHER HEALTH CARE SERVICES.INPATIENT DAYS: 3,732, SWING BED DAYS: 993, EMERGENCY ROOM VISITS: 10,939IRONWOOD CLINIC: PROVIDES PATIENT SERVICES INCLUDING FAMILY MEDICINE, ORTHOPEDICS, SURGERY, BEHAVIORAL HEALTH, AND VARIOUS OTHER HEALTH CARE SERVICES. PROVIDED 72,641 PATIENT VISITS.SURGERY: AIW OFFERS IP AND OP SURGERIES IN CARDIAC, GASTROENTEROLOGY, GENERAL, OB/GYN, OPHTHALMOLOGY, ORTHOPEDICS, AND PODIATRY AREAS. PERFORMED 2,282 TOTAL SURGERIES.RETAIL PHARMACY: CONTINUED TO EXPAND SERVICES TO THE GREATER IRONWOOD SERVICE AREA TO PROVIDE PRESCRIPTIONS. TOTAL PRESCRIPTION VOLUME FOR FISCAL YEAR 2025 WAS 11,280.

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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 (2024)

Revenue Breakdown

Contributions & Grants $126,269

Program Service Revenue $92,586,520

Investment Income $86,447

Other Revenue $96,582

TOTAL REVENUE $92,895,818

Expense Breakdown

Grants Paid $4,461

Salaries & Benefits $31,251,418

Fundraising Expenses $0

Program Expenses $62,281,797

Other Expenses $51,080,918

TOTAL EXPENSES $82,336,797

Year-over-Year Comparison

	2024	2023	Change
Revenue	$92,895,818	$78,255,493	+0.2%
Expenses	$82,336,797	$72,887,151	+0.1%
Net Income	$10,559,021	$5,368,342	+1.0%

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

330

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

$6,334,296

Total Directors

$4,846,005

Key Employees

$5,371,076

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORI PECK	BOARD MEMBER/VP-FINANCE	1.00	Director	$0	$11,487	$551,282
KRISTEN MESKE NP-C	BOARD MEMBER (THRU 09/24)/NP	1.00	Director	$0	$4,057	$165,741
CONSTANCE BRADLEY	BOARD MEMBER/SVP-PRES. REG. MKTS.	1.00	Director	$0	$125,769	$912,293
DANIEL LUKES DO	BOARD MEMBER/PHYSICIAN	1.00	Director	$0	$41,045	$848,309
JOHN PIETILA MD	BOARD MEMBER/RADIOLOGIST	1.00	Director	$0	$50,605	$1,012,932
JONATHAN BRUEGGEMAN	BOARD MEMBER/MEDICAL DIRECTOR	1.00	Director	$0	$51,071	$522,918
JOHN D MATONICH	CHAIR	1.00	Officer Director	$0	$0	$0
JENNIFER REDMAN-SCHELL	VICE CHAIR/SVP & PRESIDENT-AMG	1.00	Officer Director	$0	$105,151	$832,530
KIRK SCHOTT	TREASURER (THRU 12/24)	1.00	Officer Director	$0	$0	$0
KATIE CLARK	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
HANNAH GOODMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD KOUBEK PHD	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLY LOPER	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBIN MENEZUGGO	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTINE HARFF	(NV) PRESIDENT-UP REGION	1.00	Officer	$0	$34,131	$455,958
MATTHEW HEYWOOD	PRESIDENT & CEO ASPIRUS	2.00	Officer	$0	$361,440	$4,230,174
JERRY M YANG	SVP-CHIEF FINANCIAL OFFICER	2.00	Officer	$0	$138,394	$815,634
NATALIE SEABER	(NV)PRES.-ASP. MI REG. (BEG MAY '25)	1.00	Officer	$0	$0	$0
WILL WEIDER	SVP-CHIEF INFORMATION OFFICER	2.00	Key Emp	$0	$105,795	$766,465
DAVID BITTNER	SVP-ENTERPRISE DEVELOPMENT	2.00	Key Emp	$0	$120,822	$564,504
MICHAEL HOLZHUETER	SVP-CHIEF HR OFFICER	2.00	Key Emp	$0	$136,340	$1,016,165
MICHAEL WALTERS	SVP-SYSTEM CHIEF MEDICAL OFFICER	2.00	Key Emp	$0	$117,666	$881,152
JAMES MATHESON	SVP-CHIEF STRATEGY OFFICER	2.00	Key Emp	$0	$115,516	$860,704
SUSAN SCHNEIDER	VP-SYSTEM SR. PHYSICIAN EXEC.	2.00	Key Emp	$0	$35,907	$616,662
ERIC ANDERSON	CHIEF COMPLIANCE OFFICER	2.00	Key Emp	$0	$99,581	$665,424
KLAUS KUTSCHKE	PHYSICIAN	40.00	Highest	$433,718	$16,573	$450,291
TATYANA BOMBARD	RADIOLOGIST	40.00	Highest	$1,051,061	$48,605	$1,099,666
ENRICO BRAUCHER	PHYSICIAN	40.00	Highest	$695,517	$37,891	$733,408
ZACHARY AHOLA	PHYSICIAN	40.00	Highest	$550,875	$44,713	$595,588
FRANKLIN VILLANUEVA	PHYSICIAN	40.00	Highest	$375,554	$34,744	$410,298
JESSE TISCHER	SVP & PRESIDENT-AWH (FORMER)	0.00		$0	$5,855	$738,834
PATRICK TINCHER JR	FORMER B.M./VP-FINANCE REG. OPS.	1.00		$0	$50,390	$419,681
SIDNEY SCZYGELSKI	SVP OF FINANCE/CFO (FORMER)	2.00		$0	$37,990	$1,508,031

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
2025	$92,895,818	$82,336,797	$46,311,107	$10,559,021
2024	$78,255,493	$72,887,151	$52,664,906	$5,368,342
2023	$74,189,511	$69,805,416	$48,096,338	$4,384,095
2022	$74,400,615	$67,154,021	$72,385,424	$7,246,594
2021	$74,261,019	$62,784,322	$77,443,317	$11,476,697
2020	$62,949,562	$61,359,230	$76,634,283	$1,590,332
2019	$62,887,589	$62,032,482	$69,357,067	$855,107
2018	$59,487,888	$61,682,231	$74,433,017	$-2,194,343

ASPIRUS IRONWOOD HOSPITAL & CLINICS INC