GRHS HOLDINGS INC

EIN: 421193186 501(c)(3)

WEST BURLINGTON, IA

Total Revenue
$8,039,869
Total Expenses
$40,248,153
Total Assets
$260,663,070
Net Assets
$259,596,127
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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
1983
Legal Domicile
IA
Principal Officer
DR MICHAEL MCCOY
Phone
3197681000
Tax Period
2023-07-01 to 2024-06-30

GRHS HOLDINGS INC, founded in 1983, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2023. Revenue fell 86% from the prior year — a significant decline worth monitoring. Expenses of $40.2M exceeded revenue, resulting in a 401% operating deficit.

Mission

TO PROVIDE SUPPORT TO SOUTHEAST IOWA REGIONAL MEDICAL CENTER AND HENRY COUNTY HEALTH CENTER, EACH OF WHICH IS A NON-PROFIT 501(C)(3) ORGANIZATION THAT PROVIDES HEALTH CARE SERVICES TO ALL INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY.

Program Service Accomplishments

Program 1
Expenses: $40,000,000 Revenue: $0

SUPPORT SOUTHEAST IOWA REGIONAL MEDICAL CENTER AND HENRY COUNTY HEALTH CENTER, EACH OF WHICH IS A NON-PROFIT 501(C)(3) ORGANIZATION.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $8,039,119
Other Revenue $750
TOTAL REVENUE $8,039,869

Expense Breakdown

Grants Paid $40,000,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $40,000,000
Other Expenses $248,153
TOTAL EXPENSES $40,248,153

Year-over-Year Comparison

2023 2022 Change
Revenue $8,039,869 $58,320,351 -0.9%
Expenses $40,248,153 $31,450,378 +0.3%
Net Income $-32,208,284 $26,869,973 -2.2%
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

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Governance

Voting Members
3
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
3
$1,839,726
Total Directors
3
$1,839,726
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEREMY ALEXANDER SECRETARY/TREASURER/CFO 1.00
Officer Director
$0 $48,195 $630,528
DR MICHAEL MCCOY PRESIDENT/CEO 24.00
Officer Director
$0 $51,041 $880,902
HOPE DUNN VICE CHAIRMAN 1.00
Officer Director
$0 $20,003 $328,296
MATT WENZEL FORMER PRESIDENT/CEO 24.00
$0 $11,287 $1,380,867
JAMES KAMMERER FORMER VICE CHAIRMAN 1.00
$0 $15,983 $859,410
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 $8,039,869 $40,248,153 $260,663,070 $-32,208,284
2023 $58,320,351 $31,450,378 $271,619,322 $26,869,973
2022 $363,462,071 $25,310,888 $283,753,455 $338,151,183
2021 $5,952,725 $311,195 $164,670,758 $5,641,530
2020 $6,146,980 $322,564 $159,830,199 $5,824,416
2019 $4,309,363 $315,085 $157,647,766 $3,994,278
2018 $4,269,642 $417,625 $155,471,494 $3,852,017
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