MINNEAPOLIS, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)WESTFIELDS HOSPITAL FOUNDATION INC, founded in 1993, is a small nonprofit in the Health Care sector that reported $294K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $507K exceeded revenue, resulting in a 72% operating deficit.
WESTFIELDS HOSPITAL FOUNDATION'S MISSION IS TO SUPPORT WESTFIELDS HOSPITAL IN THEIR PROVISION OF CARE TO THE COMMUNITY.
WESTFIELDS HOSPITAL FOUNDATION, INC. (FOUNDATION) IS A WISCONSIN NON-STOCK CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS PART...
WESTFIELDS HOSPITAL FOUNDATION, INC. (FOUNDATION) IS A WISCONSIN NON-STOCK CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS PART OF THE HEALTHPARTNERS ORGANIZATION. HEALTHPARTNERS IS A NONPROFIT ORGANIZATION WITH A MISSION OF IMPROVING HEALTH AND WELL-BEING IN PARTNERSHIP WITH ITS PATIENTS, MEMBERS AND COMMUNITY FOUNDED IN 1957, HEALTHPARTNERS IS AN INTEGRATED HEALTH CARE ORGANIZATION, PROVIDING HEALTH CARE SERVICES AND HEALTH PLAN FINANCING AND ADMINISTRATION. HEALTHPARTNERS' MISSION IS TO IMPROVE HEALTH AND WELL-BEING IN PARTNERSHIP WITH OUR MEMBERS, PATIENTS, AND COMMUNITY. HEALTHPARTNERS SEEKS TO TRANSFORM HEALTH CARE THROUGH A RELENTLESS FOCUS ON THE TRIPLE AIM - PROVIDING EXCEPTIONAL EXPERIENCE FOR THE INDIVIDUAL, IMPROVING THE HEALTH OF THE POPULATION, AND MAINTAINING AFFORDABILITY. HEALTHPARTNERS, INC. (HPI) IS A MINNESOTA NONPROFIT CORPORATION AND LICENSED HEALTH MAINTENANCE ORGANIZATION (HMO) RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(4) AND IS THE PARENT ENTITY OF HEALTHPARTNERS ORGANIZATIONS REFERRED TO COLLECTIVELY AS "HEALTHPARTNERS". HEALTHPARTNERS INCLUDES AN ARRAY OF TAX-EXEMPT AND TAXABLE ORGANIZATIONS. HEALTHPARTNERS PROVIDES A FULL RANGE OF HEALTH CARE DELIVERY AND HEALTH PLAN SERVICES INCLUDING INSURANCE, PATIENT CARE, ADMINISTRATION AND HEALTH AND WELL-BEING PROGRAMS. HEALTHPARTNERS HEALTH PLANS SERVE MORE THAN 1.8 MILLION MEDICAL AND DENTAL MEMBERS NATIONWIDE. HEALTHPARTNERS MEDICAL CARE SYSTEM INCLUDES MORE THAN 2,000 EMPLOYED PHYSICIANS AND DENTISTS, EIGHT OWNED HOSPITALS WITH OVER 1,000 ACUTE CARE BEDS, OVER 100 PRIMARY AND SPECIALTY CARE MEDICAL FACILITIES AND DENTAL FACILITIES WITH PRACTICES IN MINNESOTA AND WESTERN WISCONSIN SERVING MORE THAN 1.34 MILLION PATIENTS. HEALTHPARTNERS HEALTH PLANS CONTRACT WITH OTHER PRIMARY AND SPECIALTY MEDICAL FACILITIES AND DENTAL FACILITIES, PHYSICIAN GROUPS, HOSPITALS, AND RELATED HEALTHCARE PROVIDERS TO SERVE PLAN MEMBERS. HEALTHPARTNERS ALSO PROVIDES MEDICAL EDUCATION AND TRAINING TO MEDICAL PROFESSIONALS AND CONDUCTS RESEARCH AND FUNDRAISING ACTIVITIES THAT SUPPORT THE HEALTH CARE DELIVERY SYSTEM. HEALTHPARTNERS COLLABORATES WITH OTHER PLANS, CARE PROVIDERS AND OTHER COMMUNITY AND BUSINESS ORGANIZATIONS IN THE REGION AND THROUGHOUT THE NATION TO INCREASE ACCESS, CREATE AND SHARE QUALITY MEASURES AND INITIATIVES, PARTICIPATE IN DEVELOPMENT OF PUBLIC POLICY, AND COLLABORATE IN IMPROVEMENTS THAT SUPPORT THE TRIPLE AIM. AMONG HEALTHPARTNERS' SIGNATURE INITIATIVES ARE TOTAL COST OF CARE MEASUREMENTS (A NATIONALLY RECOGNIZED METRIC, ENABLING MEASUREMENT AND INCENTIVES BASED ON COORDINATION AND EVIDENCE-BASED PRACTICES), MENTAL HEALTH (REDUCING STIGMA, AND ASSURING ACCESS TO HIGH QUALITY CARE IN THE MOST APPROPRIATE SETTINGS), CHILDREN'S HEALTH (IMPROVING CHILD HEALTH BY PROMOTING EARLY BRAIN DEVELOPMENT, PROVIDING FAMILY CENTERED CARE, AND STRENGTHENING COMMUNITIES), EQUITY, INCLUSION, AND ANTI-RACISM (ADDRESSING HEALTH EQUITY, ELIMINATING HEALTH CARE DISPARITIES, INCREASING DIVERSITY AND INCLUSION IN OUR WORKPLACES, BUILDING AN ANTI-RACIST CULTURE, AND DEEPENING OUR COLLECTIVE UNDERSTANDING OF CULTURAL HUMILITY) AND SUSTAINABILITY (ENERGY EFFICIENCY, WASTE REDUCTION, AND RESOURCE MANAGEMENT). A COMPLETE LISTING OF ALL ORGANIZATIONS WITHIN HEALTHPARTNERS, AND THE RELATIONSHIP BETWEEN THEM, CAN BE FOUND ON SCHEDULE R WITHIN THIS 990 RETURN. DETAILED INFORMATION ABOUT THE COMMUNITY BENEFIT ACTIVITIES AND ACCOMPLISHMENTS OF EACH TAX-EXEMPT ORGANIZATION CAN BE FOUND IN THE INDIVIDUAL FORM 990 RETURN FOR THAT ORGANIZATION. HEALTHPARTNERS, INC. (HPI) IS THE PARENT ENTITY OF HEALTHPARTNERS AND IS A MINNESOTA NON-PROFIT CORPORATION AND LICENSED HEALTH MAINTENANCE ORGANIZATION (HMO) RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(4). HPI IS THE SOLE CORPORATE MEMBER OF HPI-RAMSEY, AND GROUP HEALTH PLAN, INC. (GHI), BOTH OF WHICH ARE MINNESOTA NON-PROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER THE IRC SECTION 501(C)(3). IN TURN, HPI-RAMSEY IS THE SOLE CORPORATE MEMBER OF REGIONS HOSPITAL, REGIONS HOSPITAL FOUNDATION, CAPITOL VIEW TRANSITIONAL CARE CENTER, LAKEVIEW HEALTH, AND RH-WISCONSIN, INC., ALL OF WHICH ARE NON-PROFIT CORPORATIONS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3). RH-WISCONSIN, INC. AND GHI ARE THE SOLE CORPORATE MEMBER OF WESTFIELDS HOSPITAL, INC. (HOSPITAL), A WISCONSIN STATE LICENSED 25-BED, LEVEL IV CRITICAL ACCESS HOSPITAL (CAH) AND IS A WISCONSIN NON-STOCK CORPORATION EXEMPT FROM FEDERAL INCOME TAX UNDER IRC 501(C)(3). THE HOSPITAL IS THE SOLE CORPORATE MEMBER OF THE FOUNDATION. THE FOUNDATION WAS INCORPORATED IN 1993 TO OPERATE FOR THE BENEFIT OF THE HOSPITAL. THE HOSPITAL IS LICENSED BY THE STATE OF WISCONSIN DEPARTMENT OF HEALTH AND HUMAN SERVICES TO PROVIDE PRIMARY, ACUTE AND EMERGENCY MEDICAL CARE, AND A VARIETY OF OUTPATIENT SERVICES. THE HOSPITAL IS ALSO RECOGNIZED BY THE CENTERS FOR MEDICARE AND MEDICAID SERVICES AS A CAH. THE HOSPITAL WORKS TO IMPROVE THE HEALTH OF ITS PATIENTS AND COMMUNITY BY PROVIDING HIGH QUALITY HEALTH CARE WHICH MEETS THE NEEDS OF ALL PEOPLE. THE FOUNDATION SUPPORTS THIS MISSION WITH ITS FOCUS ON RAISING FUNDS TO BENEFIT THE HOSPITAL. CONTRIBUTIONS TO THE FOUNDATION ARE TAX DEDUCTIBLE. THE HOSPITAL HAS RESERVE POWERS RESPECTING CERTAIN MAJOR ACTIONS OF THE FOUNDATION. BENEFIT TO THE COMMUNITY: FUNDRAISERS: IN FEBRUARY 2023, THE FOUNDATION HOSTED THE ANNUAL WINEOLOGY EVENT. THE EVENT GROSSED $52,320 AND NETTED $35,016 FOR HEART HEALTH SERVICES, EDUCATION AND TECHNOLOGY. PLANNED USES OF THE FUNDS RAISED INCLUDE EDUCATIONAL RESOURCES FOR PATIENTS AND STAFF, NEW EQUIPMENT FOR THE CARDIAC REHABILITATION PROGRAM AND STATE-OF-THE-ART DIAGNOSTIC IMAGING SERVICES. IN APRIL 2023, THE FOUNDATION RAISED $42,592 DURING THE ANNUAL EMPLOYEE GIVING CAMPAIGN. COLLEAGUE PARTICIPATION REACHED 35 PERCENT, WHICH IS FIVE PERCENT MORE THAN THE GOAL AND SEVEN PERCENT MORE THAN LAST YEAR. THESE FUNDS WERE DIRECTED TO COMMUNITY HEALTH INITIATIVES, PATIENT CARE NEEDS, PATIENT TRANSPORTATION, EMPLOYEE-TO-EMPLOYEE ASSISTANCE, EMPLOYEE RESILIENCY AND GREATEST NEED. IN MAY 2023, THE FOUNDATION HOSTED ITS SECOND SPORTING CLAYS EVENT. THE EVENT GROSSED $27,606 AND NETTED $19,233 FOR EMPLOYEE RESILIENCY. THIS MONEY WILL BE USED TO UPGRADE THE OUTDOOR SPACE TO ALLOW STAFF MORE OPTIONS TO GO OUTSIDE DURING BREAKS. IN AUGUST 2023, THE FOUNDATION HELD ITS ANNUAL GOLF EVENT, WHICH GROSSED $45,988 AND NETTED $32,830. IT RAISED MONEY TO SUPPORT THE PATIENT TRANSPORTATION VAN TO PROVIDE NO-FEE TRANSPORTATION SERVICES TO PATIENTS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $293,816 | $690,518 | -0.6% |
| Expenses | $506,535 | $437,217 | +0.2% |
| Net Income | $-212,719 | $253,301 | -1.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| PAULA KOLBECK | DIRECTOR & SECRETARY | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| HEATHER MCABEE | DIRECTOR & TREASURER | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| KARL SKOGLUND | DIRECTOR & VICE CHAIR | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| LYNNELLE GABRIEL MD | DIRECTOR | 0.50 |
Director
|
$0 | $67,565 | $521,472 |
| SCOTT SODERBERG | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| BETH WOOD | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| LUANNE KOUBSKY | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| ROLAND BUCHMAN | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $0 |
| PATTY BERGER | DIRECTOR & CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| STEVEN M MASSEY | DIRECTOR & PRESIDENT | 0.50 |
Officer
|
$0 | $64,799 | $473,915 |
| DOUGLAS E JOHNSON | CFO | 0.50 |
Officer
|
$0 | $44,121 | $647,904 |
| JASON J LUHRS | FORMER CFO | 0.00 |
|
$0 | $65,808 | $413,398 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $293,816 | $506,535 | $2,972,590 | $-212,719 |
| 2022 | $690,518 | $437,217 | $2,763,753 | $253,301 |
| 2021 | $707,866 | $385,040 | $2,708,103 | $322,826 |
| 2020 | $282,933 | $312,933 | $2,273,790 | $-30,000 |
| 2019 | $316,625 | $259,542 | $2,003,256 | $57,083 |
| 2018 | $282,604 | $158,006 | $1,714,441 | $124,598 |
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