RIVERWOOD HEALTHCARE CENTER & COMM… - 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

1992

Legal Domicile

Principal Officer

KEN WESTMAN

Phone

2189272121

Tax Period

2023-10-01 to 2024-09-30

RIVERWOOD HEALTHCARE CENTER & COMMUNITY HOSPITAL FOUNDATION, founded in 1992, is a small nonprofit that reported $478K in total revenue in fiscal year 2023. Expenses of $713K exceeded revenue, resulting in a 49% operating deficit.

Mission

RIVERWOOD FOUNDATION EXISTS TO RAISE MONEY FOR RIVERWOOD HEALTHCARE CENTER TO ENHANCE THE QUALITY OF CARE FOR THE COMMUNITY WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $590,000 Revenue: $0

THE FOUNDATION HELPS RIVERWOOD HEALTHCARE CENTER BY RAISING FUNDS TO SUPPORT ADVANCED MEDICINE AND ALLOWING MEDICAL CARE TO BE DELIVERED LOCALLY SO THAT PATIENTS DON'T HAVE TO TRAVEL OUT OF THE AREA. IT RECOGNIZES THE IMPORTANCE OF QUALITY HEALTHCARE IN OUR RURAL AREA AND PURCHASES CAPITAL EQUIPMENT FOR THE HOSPITAL. THE FOUNDATION IS COMMITTED TO MAINTAINING AND EXPANDING QUALITY HEALTHCARE FOR RESIDENTS OF AITKIN COUNTY AND SURROUNDING COMMUNITIES.

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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 $304,527

Program Service Revenue $0

Investment Income $181,080

Other Revenue $-7,697

TOTAL REVENUE $477,910

Expense Breakdown

Grants Paid $536,050

Salaries & Benefits $0

Fundraising Expenses $15,422

Program Expenses $590,000

Other Expenses $177,326

TOTAL EXPENSES $713,376

Year-over-Year Comparison

	2023	2022	Change
Revenue	$477,910	$449,515	+0.1%
Expenses	$713,376	$601,014	+0.2%
Net Income	$-235,466	$-151,499	+0.6%

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

100

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

$745,740

Total Directors

$307,864

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELISSA MAGNUSON	DIRECTOR/PROVIDER	1.00	Director	$0	$42,984	$159,889
STEPHANIE JACOBS	DIRECTOR/RHCC EMPLOYEE	1.00	Director	$0	$34,054	$86,832
LANE FISCHER	DIRECTOR/RHCC EMPLOYEE	1.00	Director	$0	$34,112	$61,143
PEG LUNDBERG	DIRECTOR	1.00	Director	$0	$0	$0
LOREN LARSON	DIRECTOR	1.00	Director	$0	$0	$0
MARK MEYER	DIRECTOR	1.00	Director	$0	$0	$0
TOM KUPPICH	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN RYAN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HOMMES	TREASURER (UNTIL 9/11/24)	1.00	Officer Director	$0	$0	$0
SHIRLEY WINEGAR	VICE CHAIR	1.00	Officer Director	$0	$0	$0
HENRY BRUCKER	CHAIR	1.00	Officer Director	$0	$0	$0
KEN WESTMAN	RHCC CEO	1.00	Officer	$0	$52,860	$484,349
CASEY JOHNSON	RHCC CFO	1.00	Officer	$0	$44,598	$261,391

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	$477,910	$713,376	$6,490,262	$-235,466
2023	$449,515	$601,014	$6,630,854	$-151,499
2022	$1,367,546	$326,391	$6,771,811	$1,041,155
2021	$458,610	$319,324	$5,924,710	$139,286
2020	$325,174	$195,330	$5,737,438	$129,844
2019	$348,016	$693,302	$5,537,945	$-345,286
2018	$4,728,714	$248,471	$5,876,050	$4,480,243

RIVERWOOD HEALTHCARE CENTER & COMMUNITY HOSPITAL FOUNDATION