SHELBY COUNTY MEDICAL CORPORATION

EIN: 421355694 501(c)(3) Health Care

HARLAN, IA

Total Revenue
$5,733,507
Total Expenses
$6,159,707
Total Assets
$522,061
Net Assets
$24,282
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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
1990
Legal Domicile
IA
Principal Officer
BARRY JACOBSEN
Phone
7127554314
Tax Period
2023-07-01 to 2024-06-30

SHELBY COUNTY MEDICAL CORPORATION, founded in 1990, is a community nonprofit in the Health Care sector that reported $5.7M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

PROVIDING SUPPORT FOR SHELBY COUNTY CHRIS A. MYRTUE MEMORIAL HOSPITAL AND SIMILAR ORGANIZATIONS.

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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 $5,726,483
Investment Income $7,024
Other Revenue $0
TOTAL REVENUE $5,733,507

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,031,827
Fundraising Expenses $0
Program Expenses $5,962,219
Other Expenses $1,127,880
TOTAL EXPENSES $6,159,707

Year-over-Year Comparison

2023 2022 Change
Revenue $5,733,507 $6,121,328 -0.1%
Expenses $6,159,707 $5,806,949 +0.1%
Net Income $-426,200 $314,379 -2.4%
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

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Governance

Voting Members
5
Independent Members
4
Employees
11
Volunteers
5

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
4
$349,088
Total Directors
5
$454,896
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT MARKHAM DIRECTOR/PHYSICIAN 40.00
Director
$416,599 $38,297 $454,896
MATT HUDSON PRESIDENT 0.20
Officer Director
$0 $0 $0
TERRY TORNETEN VICE PRESIDENT 0.20
Officer Director
$0 $0 $0
JEANINE LARSEN SECRETARY/TREASURER 0.20
Officer Director
$0 $0 $0
KRISTEN VAN BAALE DIRECTOR 0.20
Director
$0 $0 $0
BARRY JACOBSEN CEO - MYRTUE MEDICAL CENTER 2.00
Officer
$0 $44,016 $349,088
LEROY HODGES PHYSICIAN 40.00
Highest
$508,809 $61,444 $570,253
BRET HEILESON PHYSICIAN 40.00
Highest
$480,406 $46,478 $526,884
TIMOTHY BRELJE PHYSICIAN 40.00
Highest
$435,296 $48,071 $483,367
TINA SCHECHINGER PHYSICIAN 40.00
Highest
$426,040 $51,232 $477,272
BRIAN ANDERSON PHYSICIAN 40.00
Highest
$395,934 $51,816 $447,750
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 $5,733,507 $6,159,707 $522,061 $-426,200
2023 $6,121,328 $5,806,949 $745,307 $314,379
2022 $5,639,952 $5,393,522 $438,312 $246,430
2021 $4,940,722 $4,587,656 $134,954 $353,066
2020 $4,053,676 $4,347,092 $473,231 $-293,416
2019 $4,291,523 $4,334,812 $646,494 $-43,289
2018 $4,450,749 $4,540,555 $706,013 $-89,806
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