MADISON HEALTHCARE SERVICES (EIN 410706115) - Form 990 Financial Analysis & Trantor Score

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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

1945

Legal Domicile

Principal Officer

ERIK BJERKE

Phone

3205987536

Tax Period

2024-10-01 to 2025-09-30

MADISON HEALTHCARE SERVICES, founded in 1945, is a mid-sized nonprofit in the Health Care sector that reported $21.8M in total revenue in fiscal year 2024.

Mission

WE COMMIT TO ENRICH THE LIVES OF EVERYONE WE SERVE, GUIDED BY OUR CHRISTIAN HERITAGE AND VALUES.

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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 $177,408

Program Service Revenue $20,486,458

Investment Income $767,821

Other Revenue $340,304

TOTAL REVENUE $21,771,991

Expense Breakdown

Grants Paid $44,080

Salaries & Benefits $12,400,092

Fundraising Expenses $0

Program Expenses $16,277,367

Other Expenses $9,909,227

TOTAL EXPENSES $22,353,399

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,771,991	$21,283,566	+0.0%
Expenses	$22,353,399	$21,752,005	+0.0%
Net Income	$-581,408	$-468,439	+0.2%

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

213

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

$418,108

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SCOTT OMLAND	CHAIRMAN	1.00	Officer Director	$0	$0	$0
BART HILL	SECRETARY	1.00	Officer Director	$0	$0	$0
KEVIN OLSON	DIRECTOR	1.00	Director	$0	$0	$0
MAYNARD MEYER	DIRECTOR	1.00	Director	$0	$0	$0
JEANENE MUNSTERMAN	DIRECTOR	1.00	Director	$0	$0	$0
TIM VOLK	DIRECTOR	1.00	Director	$0	$0	$0
TRUDY HASTAD	DIRECTOR	1.00	Director	$0	$0	$0
ERIK BJERKE	CEO	40.00	Officer	$226,204	$51,814	$278,018
CAROL BORGERSON	CFO	40.00	Officer	$121,247	$18,843	$140,090
BRANT HACKER MD	MD	40.00	Highest	$346,307	$39,471	$385,778
MARIA NOLTE MD	MD	40.00	Highest	$306,282	$59,014	$365,296
HANNAH FIELDS MD	MD	40.00	Highest	$331,757	$30,928	$362,685
PAUL HODGE PA	PHYSICIAN ASSISTANT	32.00	Highest	$147,309	$17,400	$164,709
MELANIE MILLER NP	NURSE PRACTITIONER	40.00	Highest	$114,703	$40,382	$155,085

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	$21,771,991	$22,353,399	$44,677,428	$-581,408
2024	No data	No data	No data	No data
2023	$20,734,963	$20,919,092	$44,800,779	$-184,129
2022	$20,472,916	$20,672,379	$46,574,607	$-199,463
2021	$23,223,798	$18,151,708	$39,706,321	$5,072,090
2020	$18,164,841	$17,212,362	$36,432,435	$952,479
2019	$18,493,031	$16,806,411	$29,483,052	$1,686,620
2018	$16,894,551	$16,607,382	$28,966,413	$287,169

MADISON HEALTHCARE SERVICES