GRINNELL REGIONAL MEDICAL CENTER

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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

1967

Legal Domicile

Principal Officer

DAVID-PAUL CAVAZOS

Phone

6412367511

Tax Period

2023-01-01 to 2023-12-31

GRINNELL REGIONAL MEDICAL CENTER, founded in 1967, is a mid-sized nonprofit in the Health Care sector that reported $64.4M in total revenue in fiscal year 2023.

Mission

GRINNELL REGIONAL MEDICAL CENTER'S MISSION IS DEDICATION TO HEALTH CARE FOR LIFE THROUGH GENUINE CARE AND COMPASSION FOR THE HEALTH AND WELL-BEING OF PATIENTS, FAMILIES AND THE COMMUNITIES GRINNELL REGIONAL MEDICAL CENTER IS PRIVILEGED TO SERVE, RESPONSIVENESS TO BALANCING COMMUNITY NEEDS WITH AVAILABLE RESOURCES, MARVELOUS PEOPLE MAKING A DIFFERENCE THROUGH QUALITY CARE AND SERVICE EXCELLENCE EVERY DAY AND COMMITMENT TO PROMOTING WELLNESS, RESTORING HEALTH AND ENHANCING THE QUALITY OF LIFE WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $57,363,640 Revenue: $63,397,510

HEALTH-CARE SERVICESGRINNELL REGIONAL MEDICAL CENTER IS AN IMPORTANT ELEMENT OF THE HEALTH-CARE DELIVERY SYSTEM THAT THE GRINNELL COMMUNITIES RELY ON EVERY DAY. IT IS COMMITTED TO PROVIDING QUALITY HEALTH CARE AND TO USING ITS RESOURCES TO THE GREATEST COMMUNITY BENEFIT. GRINNELL REGIONAL MEDICAL CENTER PROVIDES INPATIENT AND OUTPATIENT MEDICAL SERVICES TO TREAT INDIVIDUALS WITH DISEASES, ILLNESS AND INJURIES WITH VARYING COMPLEXITIES. IT PROVIDES SERVICES TO IMPROVE THE HEALTH OF PATIENTS AND TO BETTER THEIR QUALITY OF LIFE. ALL SERVICES ARE PROVIDED REGARDLESS OF AN INDIVIDUAL'S RACE, CREED, SEX, NATIONALITY, HANDICAP, AGE OR ABILITY TO COMPENSATE FOR SERVICES RENDERED. THESE INCLUDE, BUT ARE NOT LIMITED TO, GENERAL ACUTE CARE, SURGERIES, INTENSIVE CARE AND CRITICAL CARE, CARDIOLOGY, ONCOLOGY, MATERNAL/CHILD CARE, PALLIATIVE CARE, EMERGENCY SERVICES AND OUTPATIENT CLINICS. SOME OF THE SERVICES PROVIDED DO NOT GENERATE ENOUGH INCOME TO OFFSET THEIR COST. IN THE FISCAL PERIOD ENDED DECEMBER 31, 2023, GRINNELL REGIONAL MEDICAL CENTER PROVIDED 5,080 DAYS OF ACUTE CARE, 552 DAYS OF SKILLED NURSING CARE AND 452 NURSERY DAYS.

Program 2

Expenses: $1,463,032 Revenue: $0

CHARITY CARE, MEANS-TESTED PROGRAMS AND OTHER COMMUNITY BENEFITSCHARITY CARE AND MEANS-TESTED PROGRAMS: GRINNELL REGIONAL MEDICAL CENTER PROVIDES CHARITY CARE AND OTHER MEANS-TESTED PROGRAMS WITH THE GOAL TO IMPROVE THE COMMUNITY'S OVERALL HEALTH AND ACCESS TO CARE. THIS INCLUDES HEALTH-CARE SERVICES REGARDLESS OF THE PATIENT'S INSURANCE COVERAGE OR FINANCIAL STATUS. CHARITY CARE AND PARTIAL TO FULL FINANCIAL ASSISTANCE IS PROVIDED TO PATIENTS ON A CASE-BY-CASE BASIS. CHARITY CARE WAS MADE AVAILABLE AT A VALUE OF $224,219 IN 2023. OFTENTIMES, GRINNELL REGIONAL MEDICAL CENTER RECEIVES PAYMENTS FROM PAYORS OR PATIENTS THAT ARE LESS THAN IT CHARGES FOR SERVICES. GRINNELL REGIONAL MEDICAL CENTER PARTICIPATES IN MEDICAID AND OTHER GOVERNMENT-SPONSORED HEALTH-CARE PROGRAMS. NET COST OF PROVIDING CARE FOR WHICH IT RECEIVES PAYMENT BELOW ITS COST IS $1,232,204. TOTAL CHARITY CARE AND MEANS-TESTED PROGRAMS REPORTED VALUE: $1,456,423.OTHER BENEFITS: GRINNELL REGIONAL MEDICAL CENTER PROVIDES SEVERAL OTHER BENEFITS THAT ASSIST THE COMMUNITY. PROGRAMS INCLUDE, BUT ARE NOT LIMITED TO, COMMUNITY HEALTH IMPROVEMENT SERVICES AND COMMUNITY BENEFIT OPERATIONS SUCH AS PREVENTION AND HEALTH SCREENINGS; SUBSIDIZED HEALTH SERVICES; RESEARCH, AND IN-KIND CONTRIBUTIONS TO COMMUNITY GROUPS. GRINNELL REGIONAL MEDICAL CENTER COLLABORATES WITH OTHER HOSPITALS, CHURCHES, SCHOOLS, CHAMBERS OF COMMERCE AND DAYCARE CENTERS TO IMPROVE COMMUNITY HEALTH AND EXPAND ACCESS TO HEALTH CARE. GRINNELL REGIONAL MEDICAL CENTER HAS DEDICATED STAFF TO ASSIST COMMUNITY BENEFIT EFFORTS. TOTAL NET OTHER BENEFITS REPORTED VALUE: $6,609.

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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 $1,008,906

Program Service Revenue $62,233,099

Investment Income $-7,028

Other Revenue $1,168,213

TOTAL REVENUE $64,403,190

Expense Breakdown

Grants Paid $442,064

Salaries & Benefits $39,935,154

Fundraising Expenses $0

Program Expenses $58,826,672

Other Expenses $23,728,031

TOTAL EXPENSES $64,105,249

Year-over-Year Comparison

	2023	2022	Change
Revenue	$64,403,190	$62,426,887	+0.0%
Expenses	$64,105,249	$63,157,388	+0.0%
Net Income	$297,941	$-730,501	-1.4%

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

386

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

$1,801,429

Total Directors

$2,284,248

Key Employees

$224,322

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACOB BOYER PA-C	BOARD MEMBER	40.00	Director	$220,557	$11,296	$231,853
PEGGY BROWN	BOARD MEMBER (TO 10/23)	1.00	Director	$0	$0	$0
DARWIN COPEMEN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
RYAN DAHLBY ALBRIGHT MD	BOARD MEMBER (TO 11/23)	1.00	Director	$0	$0	$0
JENNIFER HAVENS	BOARD MEMBER/CEO (TO 10/23)	40.00	Officer Director	$0	$43,840	$430,360
RACHEL KINNICK	BOARD CHAIR ELECT	1.00	Officer Director	$0	$0	$0
SALLY LANG	BOARD TREASURER	1.00	Officer Director	$0	$0	$0
ALY MALY	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
SID RAMSEY BOARD MEMBERVP	MARKETING & BUSINESS DEV-C	1.00	Director	$0	$40,043	$488,458
HENRY MORISADA RIETZ PHD	BOARD SECRETARY	1.00	Officer Director	$0	$0	$0
SARAH SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
TRACI SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID STARK	BOARD MEMBER/CEO-CIHC	1.00	Officer Director	$0	$91,854	$1,133,577
DOUGLAS VAN DAELE MD FACS	BOARD MEMBER	1.00	Director	$0	$0	$0
KYLE WILCOX	VP FINANCE	40.00	Officer	$212,462	$25,030	$237,492
LAURA JUEL	VP NURSING & CLINICAL SERV	40.00	Key Emp	$181,434	$42,888	$224,322
SCOTT DOYLE CRNA ARNP	ANESTHESIOLOGY	40.00	Highest	$302,969	$35,984	$338,953
STEPHEN ELLESTAD DO	PHYSICIAN	40.00	Highest	$306,561	$16,118	$322,679
CLAYTON FRANCIS MD	PHYSICIAN	40.00	Highest	$161,710	$8,622	$170,332
KATHRYN OGBURN CRNA	ANESTHESIOLOGY	40.00	Highest	$267,233	$24,755	$291,988
KRISTIN PHELPS PA-C	FAMILY MEDICINE	40.00	Highest	$164,014	$30,813	$194,827

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	No data	No data	No data	No data
2023	$64,403,190	$64,105,249	$32,982,535	$297,941
2022	$62,426,887	$63,157,388	$29,996,972	$-730,501
2021	$60,079,806	$57,775,461	$29,904,442	$2,304,345
2020	$54,211,940	$58,195,220	$32,119,078	$-3,983,280
2019	$48,079,462	$48,221,453	$30,653,049	$-141,991
2018	$47,415,767	$50,430,836	$26,131,742	$-3,015,069