IOWA HEALTH SYSTEM

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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

1994

Legal Domicile

Principal Officer

SCOTT KIZER

Phone

5152416161

Tax Period

2023-01-01 to 2023-12-31

IOWA HEALTH SYSTEM, founded in 1994, is a major nonprofit in the Health Care sector that reported $495.1M in total revenue in fiscal year 2023.

Mission

TO IMPROVE THE HEALTH OF THE PEOPLE AND COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $392,060,817 Revenue: $444,645,710

AFFILIATE SUPPORT SERVICESIOWA HEALTH SYSTEM (D/B/A UNITYPOINT HEALTH) IS ORGANIZED TO SUPPORT THE MISSIONS OF SEVERAL RELATED CHARITABLE, TAX-EXEMPT ORGANIZATIONS INCLUDING THE FOLOWING MARKETS...

AFFILIATE SUPPORT SERVICESIOWA HEALTH SYSTEM (D/B/A UNITYPOINT HEALTH) IS ORGANIZED TO SUPPORT THE MISSIONS OF SEVERAL RELATED CHARITABLE, TAX-EXEMPT ORGANIZATIONS INCLUDING THE FOLOWING MARKETS, IOWA HEALTH DES MOINES (DES MOINES), TRINITY REGIONAL HEALTH SYSTEM (QUAD CITIES), ST. LUKE'S HEALTHCARE (CEDAR RAPIDS), ALLEN HEALTH SYSTEMS (WATERLOO), TRINITY HEALTH SYSTEMS (FORT DODGE), ST. LUKE'S HEALTH SYSTEM (SIOUX CITY), FINLEY TRI-STATES HEALTH GROUP (DUBUQUE), MERITER HEALTH SERVICES (MADISON), AND IOWA PHYSICIANS CLINIC MEDICAL FOUNDATION (DBA UNITYPOINT CLINIC), UNITYPOINT AT HOME, AS WELL AS MULTIPLE RURAL AFFILIATES. THE SUPPORT SERVICES PROVIDED TO THESE ORGANIZATIONS ARE TO CONSTRUCT, OWN, LEASE, MANAGE, OPERATE, PROVIDE AND MAINTAIN ANY FACILITIES, PROGRAMS, SERVICES (MANAGEMENT OR OTHERWISE) AND RELATED ACTIVITIES IN FURTHERANCE OF HEALTH-CARE OR HEALTH EDUCATION. FACILITIES INCLUDE HOSPITALS, SELF-CARE FACILITIES, CLINICS, EDUCATIONAL FACILITIES, AND OTHER ESTABLISHMENTS CREATED TO CARRY THROUGH HEALTH-CARE AND EDUCATIONAL PROGRAMS. THE PRIMARY PURPOSE OF THE CORPORATION IS TO ENGAGE IN AND CONDUCT CHARITABLE, EDUCATIONAL, RELIGIOUS AND SCIENTIFIC ACTIVITIES IN ACCORDANCE WITH PREVIOUSLY STATED PURPOSES.

Program 2

Expenses: $35,000 Revenue: $0

COMMUNITY BENEFITIOWA HEALTH SYSTEM PROVIDES SEVERAL OTHER BENEFITS THAT ASSIST THE COMMUNITY. PROGRAMS MAY INCLUDE, BUT ARE NOT LIMITED TO, COMMUNITY HEALTH IMPROVEMENT SERVICES AND COMMUNITY...

COMMUNITY BENEFITIOWA HEALTH SYSTEM PROVIDES SEVERAL OTHER BENEFITS THAT ASSIST THE COMMUNITY. PROGRAMS MAY INCLUDE, BUT ARE NOT LIMITED TO, COMMUNITY HEALTH IMPROVEMENT SERVICES AND COMMUNITY BENEFIT OPERATIONS SUCH AS PREVENTION AND HEALTH SCREENINGS; HEALTH PROFESSIONAL'S EDUCATION; SUBSIDIZED HEALTH SERVICES; RESEARCH, AND CASH AND IN-KIND CONTRIBUTIONS TO COMMUNITY GROUPS. IOWA HEALTH SYSTEM COLLABORATES WITH OTHER HOSPITALS, CHURCHES, SCHOOLS, CHAMBERS OF COMMERCE AND DAYCARE CENTERS TO IMPROVE COMMUNITY HEALTH AND EXPAND ACCESS TO HEALTH CARE. IOWA HEALTH SYSTEM HAS DEDICATED STAFF TO ASSIST COMMUNITY BENEFIT EFFORTS. TOTAL OTHER BENEFITS REPORTED VALUE: $35,000.

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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 $1,262,989

Program Service Revenue $430,042,987

Investment Income $51,621,360

Other Revenue $12,179,150

TOTAL REVENUE $495,106,486

Expense Breakdown

Grants Paid $35,000

Salaries & Benefits $252,651,468

Fundraising Expenses $0

Program Expenses $392,095,817

Other Expenses $234,754,894

TOTAL EXPENSES $487,441,362

Year-over-Year Comparison

	2023	2022	Change
Revenue	$495,106,486	$469,880,792	+0.1%
Expenses	$487,441,362	$482,771,215	+0.0%
Net Income	$7,665,124	$-12,890,423	-1.6%

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

2765

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

$9,382,581

Total Directors

$2,875,937

Key Employees

$21,798,387

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL ARNOLD	BOARD MEMBER	1.00	Director	$14,500	$0	$14,500
BRAD BRODY	BOARD CHAIR (TO 7/23)	1.00	Officer Director	$25,000	$0	$25,000
KYLE CHRISTIASON MD	BOARD MEMBER	1.00	Director	$0	$43,125	$427,928
GREGORY CHURCHILL	BOARD MEMBER	1.00	Director	$14,500	$0	$14,500
ADAEZE ENEKWECHI	BOARD MEMBER (TO 7/23)	1.00	Director	$7,250	$0	$7,250
ANGELA WALKER FRANKLIN PHD	BOARD MEMBER	1.00	Director	$14,500	$0	$14,500
VIRGINIA GRAVES	BOARD MEMBER (TO 7/23)	1.00	Director	$7,250	$0	$7,850
SALLY GRAY RN BOARD SEC TO 723	BOARD CHAIR (FR 7/23)	1.00	Officer Director	$32,250	$0	$32,250
BRUCE JAMES MD	BOARD MEMBER (TO 7/23)	1.00	Director	$0	$0	$7,385
DEBRA JOHNSON	BOARD MEMBER (FR 8/23)	1.00	Director	$7,250	$0	$7,250
SCOTT KIZERCH LGL OFF SVP TO 723	BD SEC/PRESIDENT/CEO (FR 7/23)	40.00	Officer Director	$1,621,985	$231,010	$1,852,995
JOSE LARACUENTE BD TREAS TO 723	BOARD MEMBER (FR 7/23)	1.00	Officer Director	$14,500	$0	$14,635
BRADLEY MANNING	BOARD MEMBER (TO 7/23)	1.00	Director	$10,875	$0	$11,475
MARGARETT NOREUIL PHD	BOARD MEMBER (FR 8/23)	1.00	Director	$7,250	$0	$7,250
MARLON PRIEST MD	BOARD MEMBER	1.00	Director	$14,500	$0	$14,500
MARK SCHWIEBERT	BOARD MEMBER (TO 7/23)	1.00	Director	$7,250	$0	$7,250
GARRY SMITH	BOARD MEMBER	1.00	Director	$14,500	$0	$14,500
JAMES STEVENSON	BOARD MEMBER (TO 4/23)	1.00	Director	$3,625	$0	$3,625
JOHN TAETS	BOARD VICE CHAIR (TO 7/23)	1.00	Officer Director	$7,250	$0	$7,250
DENNIS TRIGGS	BOARD MEMBER (TO 4/23)	1.00	Director	$3,625	$0	$3,625
ANDREA WHITE MD	BOARD MEMBER	1.00	Director	$0	$25,853	$365,919
MARIE ZIEGLER BOARD MEMBER	BOARD CHAIR-ELECT (FR 7/23)	1.00	Officer Director	$14,500	$0	$14,500
MICHAEL HEINRICH INTERIM CFO	(FR 3/23 TO 7/23), CFO (FR 7/23)	40.00	Officer	$232,877	$78,425	$702,550
CLAY HOLDERMAN	PRESIDENT/CEO (TO 10/23)	40.00	Officer	$4,576,846	$349,926	$4,926,772
PETER D WATSON CHIEF	FINANCIAL OFFICER SVP (TO 4/23)	40.00	Officer	$1,770,306	$36,323	$1,806,629
JAMES ARNETT	PRESIDENT/CEO-WI	1.00	Key Emp	$0	$96,577	$839,249
DANDRE CARPENTER DNP RN	CHIEF NURSING OFFICER (TO 8/23)	40.00	Key Emp	$1,298,431	$109,776	$1,408,207
DANIEL CARPENTER	CHIEF STRATEGY OFFICER SVP	40.00	Key Emp	$1,122,705	$169,240	$1,291,945
PAMELA DELAGARDELLE PRESCEO-WAT	(TO 8/23), SVP COO-WEST (FR 7/23)	20.00	Key Emp	$478,658	$102,337	$1,082,998
MARCEL DEVETTEN MD	CHIEF QUALITY OFFICER	40.00	Key Emp	$1,029,193	$37,829	$1,067,022
ANDREA EKLUND	CHIEF COMPLIANCE OFFICER (TO 10/23)	40.00	Key Emp	$655,650	$46,251	$701,901
SUSAN ERICKSON	COO SVP	40.00	Key Emp	$1,825,397	$144,038	$1,969,435
ROBERT ERICKSON	PRESIDENT/CEO-QC (TO 8/23)	1.00	Key Emp	$0	$46,747	$1,442,490
AARON GILLINGHAM CHIEF HUMAN	RESOURCES OFFICER SVP (TO 7/23)	40.00	Key Emp	$1,271,078	$44,129	$1,315,207
LEAH GLASGO PRESIDENTCEO-FD	INTERIM PRES/CEO-SC (TO 10/23)	1.00	Key Emp	$0	$94,671	$981,003
KEITH KNEPP MD	PRESIDENT/CEO-PM (TO 4/23)	1.00	Key Emp	$0	$19,379	$877,184
MALLARY MCKINNEY VP CHIEF BRAND	MARKETING & COMMUNICATIONS OFFICER	40.00	Key Emp	$562,955	$66,255	$629,210
JESSICA MEISNER VP SYSTEM HR CONSUL	(TO 11/23), SVP CAO (FR 11/23)	40.00	Key Emp	$531,575	$44,331	$575,906
PATRICIA NEWLAND MD	PRES/CEO-IPCMF	1.00	Key Emp	$0	$104,680	$967,188
MICHELLE NIERMANN PRESCEO-CR	(TO 8/23), SVP COO-EAST (FR 8/23)	20.00	Key Emp	$479,680	$119,328	$1,107,448
JENNIFER OFELT INT PRESCCO-HOME	(TO 7/23) PRES/CCO-HOME (FR 7/23)	1.00	Key Emp	$0	$48,427	$490,597
LAURA SMITH CIO SVP TO 1123 VP C	TECH TRANSFORMATION OFF (FR 11/23)	40.00	Key Emp	$932,230	$114,046	$1,046,276
DAVID STARK PRESCEO-DSM CHIEF GOV	AFFAIRS & PHILANTHROPY OFF (FR 7/23)	20.00	Key Emp	$498,861	$91,854	$1,133,577
DAVID WILLIAMS MD CHIEF	CLINICAL OFFICER SVP (TO 11/23)	40.00	Key Emp	$1,720,752	$137,030	$1,857,782
CHAD WOLBERS	PRES/CEO-DUB (TO 9/23)	1.00	Key Emp	$0	$37,786	$1,013,762
MARK JOHNSON	VP CONSOLIDATED SERVICES	40.00	Highest	$467,698	$94,967	$562,665
DEBRA KING	DEPUTY GENERAL COUNSEL	40.00	Highest	$415,132	$69,259	$484,391
WENDY MORTIMORE MD	CHIEF MEDICAL INF OFFICER	40.00	Highest	$492,078	$31,967	$524,045
DENNIS SHIRLEY	VP REVENUE CYCLE	40.00	Highest	$411,425	$40,719	$452,144
MATTHEW WARRENS	MANAGING DIRECTOR INNOVATION CENTER	40.00	Highest	$455,121	$38,264	$493,385
SUSAN THOMPSON FRMR INTERIM	PRESIDENT/CEO (TO 02/21)	0.00		$278,145	$0	$278,145
ART NIZZA	FRMR EVP/COO (TO 02/21)	0.00		$156,611	$0	$156,611
RICHARD SEIDLER	FRMR PRESIDENT/CEO-QC (TO 05/19)	0.00		$0	$0	$369,890
JOHN SHEEHAN FRMR CHIEF	OPERATING OFFICER SVP (TO 7/22)	0.00		$489,785	$4,437	$494,222
LORENZO SUTER	FRMR PRES/CEO-SC (TO 7/22)	0.00		$0	$13,491	$282,360
THEODORE TOWNSEND FRMR PRESCEO-CR	FRMR INT PRES/CEO-DUB (TO 12/18)	0.00		$0	$0	$462,474

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	$495,106,486	$487,441,362	$1,312,724,604	$7,665,124
2022	$469,880,792	$482,771,215	$1,508,678,077	$-12,890,423
2021	$437,979,986	$437,339,338	$1,513,230,755	$640,648
2020	$439,634,452	$460,421,755	$1,741,446,215	$-20,787,303
2019	$403,018,232	$408,701,852	$1,258,894,202	$-5,683,620
2018	$370,090,451	$367,375,013	$1,182,592,787	$2,715,438