CATHOLIC HEALTH INITIATIVES - IOWA… - 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

1965

Legal Domicile

Principal Officer

VANESSA FREITAG

Phone

5152473121

Tax Period

2024-07-01 to 2025-06-30

CATHOLIC HEALTH INITIATIVES - IOWA CORP, founded in 1965, is a large national nonprofit in the Health Care sector that reported $1.0B in total revenue in fiscal year 2024.

Mission

WE, CATHOLIC HEALTH INITIATIVES - IOWA, CORP. AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. CATHOLIC HEALTH INITIATIVES - IOWA, CORP. IS A MEMBER OF TRINITY HEALTH.

Program Service Accomplishments

Program 1

Expenses: $971,998,473 Revenue: $1,031,770,857

CATHOLIC HEALTH INITIATIVES - IOWA, CORP. (MERCYONE DES MOINES) IS THE LONGEST CONTINUALLY OPERATING HOSPITAL IN DES MOINES AND IOWA'S LARGEST MEDICAL CENTER, WITH 770 BEDS AVAILABLE. THE HOSPITAL IS ONE OF THE MIDWEST'S LARGEST REFERRAL CENTERS.MERCYONE DES MOINES HAS RECEIVED MANY ACCOLADES FOR QUALITY CARE AND EXCELLENCE, BOTH LOCALLY AND ON A NATIONAL LEVEL. TOGETHER WITH COMMUNITY PARTNERS, MERCYONE DES MOINES IS FOCUSING ITS EFFORTS TO IMPROVE THE HEALTH OF THOSE MOST IN NEED.PLEASE SEE SCHEDULE H AND VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION ABOUT OUR SERVICES AND SPECIALTIES:WWW.MERCYONE.ORG/DESMOINES

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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 $4,400,508

Program Service Revenue $1,003,393,346

Investment Income $-1,102,503

Other Revenue $41,899,165

TOTAL REVENUE $1,048,590,516

Expense Breakdown

Grants Paid $8,217,761

Salaries & Benefits $358,770,164

Fundraising Expenses $0

Program Expenses $971,998,473

Other Expenses $678,807,677

TOTAL EXPENSES $1,045,795,602

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,048,590,516	$977,048,225	+0.1%
Expenses	$1,045,795,602	$1,001,217,765	+0.0%
Net Income	$2,794,914	$-24,169,540	-1.1%

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

7996

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

$1,292,714

Total Directors

$5,179,580

Key Employees

$415,326

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT RITZ	DIRECTOR; CEO MERCY HEALTH NETWORK	1.00	Director	$0	$54,140	$2,471,013
MICHAEL WEGNER	FORMER OFFICER	0.00		$0	$455,195	$1,653,467
HIJINIO CARREON DO	FORMER KEY EMPLOYEE; CCO, MERCYONE	0.00		$0	$90,746	$1,182,624
ATUL CHAWLA MD	CARDIOLOGIST	50.00	Highest	$923,283	$47,437	$970,720
MARK TANNENBAUM MD	CARDIOLOGIST	50.00	Highest	$895,879	$52,204	$948,083
MARNIX VERHOFSTE MD	CARDIOTHORACIC SURGEON	50.00	Highest	$882,212	$43,439	$925,651
YUICHI ISHIDA MD	CARDIOTHORACIC SURGEON	50.00	Highest	$896,658	$26,883	$923,541
MUDASSIR MALIK MD	CARDIOLOGIST	50.00	Highest	$833,076	$54,004	$887,080
MICHAEL FRAIZER MD	DIRECTOR; CARDIOLOGIST	49.00	Director	$698,220	$52,640	$750,860
NEIL HORNING MD	DIR; SEC;PULMONOLOGIST CRITICAL CARE	1.00	Officer Director	$619,064	$47,246	$666,310
VANESSA FREITAG	DIRECTOR; CHIEF OPERATING OFFICER	47.00	Officer Director	$0	$99,579	$626,404
ERIN NETTELAND-SANDVIG DO	DIRECTOR; PHYSICIAN FAMILY MEDICINE	1.00	Director	$552,875	$50,085	$602,960
JODIE ROETTGER	FORMER OFFICER	0.00		$0	$30,461	$459,251
DENNIS SZURKUS MD	CHIEF MEDICAL OFFICER	50.00	Key Emp	$0	$31,770	$415,326
STEPHEN NOWAK DO	DIRECTOR; PHYSICIAN FAMILY MEDICINE	1.00	Director	$62,033	$0	$62,033
THERESA MCCONEGHEY	DIRECTOR; CHAIR	1.00	Officer Director	$0	$0	$0
EMILY ABBAS	DIRECTOR; VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN JOHNSON	DIRECTOR; TREASURER	1.00	Officer Director	$0	$0	$0
PATRICIA MCDERMOTT	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY MILLER	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER NELSON PHD	DIRECTOR	1.00	Director	$0	$0	$0
MAURITA SOUKUP RSM	DIRECTOR	1.00	Director	$0	$0	$0
TERRI DONOVAN PD BY MGMT CO	INTERIM VP FINANCE & CFO, MERCYONE	1.00	Officer	$0	$0	$0

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	$1,048,590,516	$1,045,795,602	$1,415,294,292	$2,794,914
2024	$977,048,225	$1,001,217,765	$1,094,807,010	$-24,169,540
2023	$896,595,007	$962,072,046	$695,250,879	$-65,477,039
2022	$899,251,353	$964,931,390	$935,566,495	$-65,680,037
2021	$904,841,538	$863,053,697	$1,114,579,485	$41,787,841
2020	$817,241,108	$803,069,789	$1,021,035,326	$14,171,319
2019	$804,092,017	$810,014,550	$869,298,584	$-5,922,533
2018	$858,652,490	$846,441,679	$890,110,086	$12,210,811

CATHOLIC HEALTH INITIATIVES - IOWA CORP