MERCY MEDICAL CENTER

EIN: 420698295 501(c)(3) Health Care

CEDAR RAPIDS, IA

Total Revenue
$478,815,186
Total Expenses
$488,223,931
Total Assets
$728,179,406
Net Assets
$494,230,249
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1900
Legal Domicile
IA
Principal Officer
NATHAN VAN GENDEREN
Phone
3193986105
Tax Period
2023-07-01 to 2024-06-30

MERCY MEDICAL CENTER, founded in 1900, is a major nonprofit in the Health Care sector that reported $478.8M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TO CARE FOR THE SICK AND ENHANCE THE HEALTH OF THE COMMUNITIES WE SERVE, GUIDED BY THE SPIRIT OF THE SISTERS OF MERCY.

Program Service Accomplishments

Program 1
Expenses: $394,125,356 Revenue: $465,653,895

MERCY MEDICAL CENTER (HOSPITAL) PROVIDES MEDICAL HEALTH CARE, INCLUDING 24 HOURS A DAY, SEVEN DAYS A WEEK TRAUMA CENTER SERVICE, TO ALL PATIENTS ACCESSING THE SYSTEM, REGARDLESS OF RACE, CREED, SEX...

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MERCY MEDICAL CENTER (HOSPITAL) PROVIDES MEDICAL HEALTH CARE, INCLUDING 24 HOURS A DAY, SEVEN DAYS A WEEK TRAUMA CENTER SERVICE, TO ALL PATIENTS ACCESSING THE SYSTEM, REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE OR ABILITY TO PAY. A PATIENT IS CLASSIFIED AS A CHARITY PATIENT BY REFERENCE TO CERTAIN ESTABILISHED POLICIES OF THE HOSPITAL. ESSENTIALLY, THESE POLICIES DEFINE CHARITY SERVICES AS THOSE SERVICES FOR WHICH NO OR NOMINAL PAYMENT IS ANTICIPATED. ADDITIONALLY, EACH HOSPITAL DEPARTMENT ACCEPTS ALL PATIENTS WHO ARE COVERED BY GOVERNMENTAL INDIGENT PROGRAMS. SUCH INDIGENT PROGRAMS TYPICALLY REMIT AMOUNTS SUBSTANTIALLY LESS THAN CHARGES. THE FOLLOWING SUMMARIZES THE HOSPITAL'S CARE OF THE UNINSURED AND UNDERINSURED. COSTS IN EXCESS OF MEDICARE REIMBURSEMENT (COSTS OF PROVIDING THE SERVICES LESS THE AMOUNTS RECEIVED FROM MEDICARE) - $42,540,000; OTHER COMMUNITY BENEFITS (INCLUDES SUBSIDIZED HEALTH SERVICES, FINANCIAL CONTRIBUTIONS) - $3,855,000; FREE SERVICE (TO PATIENTS WHO MEET MERCY'S FREE-SERVICE GUIDELINES) - $4,590,000; COSTS IN EXCESS OF MEDICAID REIMBURSEMENT (COSTS OF PROVIDING THE SERVICES LESS THE AMOUNTS RECEIVED FROM MEDICAID) - $14,380,000, PHYSICIAN EDUCATION - $(682,000). IN ADDITION, CHARITY CARE AND COMMUNITY SERVICE ARE PROVIDED THROUGH MANY REDUCED-PRICE SERVICES AND FREE PROGRAMS OFFERED THROUGHOUT THE YEAR. THESE PROGRAMS PROVIDE A BONA FIDE COMMUNITY HEALTH NEED, INCLUDING: A. PUBLIC AND PROFESSIONAL EDUCATIONAL SEMINAR ARE OFFERED ON A VARIETY OF TOPICS INCLUDING JOINT REPLACEMENT SURGERY, PRENATAL EDUCATION, DIABETES, MENTAL HEALTH DISORDERS, AND NUMEROUS OTHER MEDICAL CONDITIONS OF MEDICAL AND PSYCHOSOCIAL NATURE. SPECIALIZED CANCER SEMINARS ARE ALSO OFFERED. B. HOSPITAL MEETING FACILITIES WHICH ARE FREQUENTLY USED WITHOUT CHARGE BY SUCH GROUPS AS THE AMERICAN HEART ASSOCIATION, IOWA BREAST CANCER FOUNDATION, HEALTHY LINN NETWORK ADVISORY COMMITTEE, OVEREATERS ANONYMOUS, CATHOLIC LAYMEN, UNITED WAY, CATHERINE MCAULEY CENTER FOR WOMEN, THE AMERICAN CANCER SOCIETY. M.S. SUPPORT GROUP, EASTERN IOWA ONCOLOGY NURSES SOCIETY, THE IOWA CANCER CONSORTIUM, THE PARENT EDUCATION CONSORTIUM, ARC OF EAST CENTRAL IOWA, AND SEVERAL OTHER GROUPS. C. CONTRIBUTIONS OF APPROXIMATELY 96,986 HOURS TOWARD THE COMMON PURPOSE OF SERVING THE HEALTH CARE OF THE COMMUNITY. THE VALUE OF THESE CONTRIBUTIONS WAS APPROXIMATELY $1,487,000 AND WAS GIVEN BACK TO THE COMMUNITY THROUGH LOWER COSTS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,401,529
Program Service Revenue $467,204,529
Investment Income $1,395,215
Other Revenue $813,913
TOTAL REVENUE $478,815,186

Expense Breakdown

Grants Paid $14,218,152
Salaries & Benefits $240,387,684
Fundraising Expenses $0
Program Expenses $394,125,356
Other Expenses $233,618,095
TOTAL EXPENSES $488,223,931

Year-over-Year Comparison

2023 2022 Change
Revenue $478,815,186 $435,705,307 +0.1%
Expenses $488,223,931 $456,035,429 +0.1%
Net Income $-9,408,745 $-20,330,122 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
25
Independent Members
20
Employees
3319
Volunteers
638

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
5
$1,353,579
Total Directors
25
$795,201
Key Employees
4
$1,597,018
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIMOTHY QUINN MD PRESIDENT & CHIEF EXECUTIVE OFFICER 40.00
Officer Director
$709,298 $85,903 $795,201
JOHN-PAUL BESONG MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
LYDIA BROWN MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
MICHELE BUSSE MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
BOB CATALDO MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
CHRIS DEWOLF MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
BARRIE ERNST MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
TONY GOLOBIC MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
SISTER LUANN HANNASCH MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
NANCY KASPAREK MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
SISTER SHARON KERRIGAN MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
BARB KNAPP MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
SISTER TERRY MALTBY MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
CHERYLE MITVALSKY CHAIRMAN 1.00
Officer Director
$0 $0 $0
DARREL MORF VICE CHAIRMAN/TREASURER 1.00
Officer Director
$0 $0 $0
RUE PATEL MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
FRED PILCHER MD MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
MARY QUASS MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
JOHN RIFE MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
CHARLES ROHDE MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
AL RUFFALO MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
KYLE SKOGMAN MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
JOHN SMITH MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
SISTER MAURITA SOUKUP SECRETARY 1.00
Officer Director
$0 $0 $0
ANN STROH MEMBER BOARD OF TRUSTEES 1.00
Director
$0 $0 $0
NATHAN VAN GENDEREN EXECUTIVE VICE PRESIDENT & CFO/COO 40.00
Officer
$491,544 $66,834 $558,378
NANCY HILL CHIEF TALENT OFFICER 40.00
Key Emp
$325,587 $41,557 $367,144
JEFFREY CASH CHIEF INFORMATION OFFICER 40.00
Key Emp
$340,132 $52,032 $392,164
MARY BROBST FORMER CHIEF NURSING OFFICER 40.00
Key Emp
$322,299 $20,123 $342,422
TONY MYERS MD CHIEF MEDICAL OFFICER 40.00
Key Emp
$429,220 $66,068 $495,288
AMANDEEP DHALIWAL MD PHYSICIAN 40.00
Highest
$1,315,465 $29,443 $1,344,908
SACHIN GOYAL MD PHYSICIAN 40.00
Highest
$1,332,795 $7,689 $1,340,484
CHONG C LEE MD PHYSICIAN 40.00
Highest
$1,987,567 $32,695 $2,020,262
BARAKAT ABURAJAB ALTAMIMI MD PHYSICIAN 40.00
Highest
$1,276,722 $35,382 $1,312,104
SHANE A GAILUSHAS MD PHYSICIAN 40.00
Highest
$1,370,136 $40,232 $1,410,368
TIMOTHY L CHARLES FORMER PRESIDENT & CHIEF EXECUTIVE OFFICER 40.00
$737,385 $427 $737,812
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 No data No data No data No data
2024 $478,815,186 $488,223,931 $728,179,406 $-9,408,745
2023 $435,705,307 $456,035,429 $714,937,396 $-20,330,122
2022 $418,379,415 $412,756,686 $716,000,674 $5,622,729
2021 $391,822,249 $374,188,407 $779,545,378 $17,633,842
2020 $356,239,864 $351,548,767 $664,794,237 $4,691,097
2019 $347,999,069 $341,581,015 $591,175,878 $6,418,054
2018 $341,273,386 $334,499,790 $573,230,191 $6,773,596
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