Monument Health Network Inc

EIN: 460360899 501(c)(3) Health Care

Rapid City, SD

Total Revenue
$210,662,984
Total Expenses
$200,759,854
Total Assets
$138,921,164
Net Assets
$77,278,576
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
SD
Principal Officer
Paulette Davidson
Phone
6057559130
Tax Period
2022-07-01 to 2023-06-30

REGIONAL HEALTH NETWORK INC, founded in 1981, is a major nonprofit in the Health Care sector that reported $156.0M in total revenue in fiscal year 2017.

Mission

Monument Health Network is dedicated to improving the health of individuals and our communities.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $701,010
Program Service Revenue $209,936,272
Investment Income $1,539
Other Revenue $24,163
TOTAL REVENUE $210,662,984

Expense Breakdown

Grants Paid $383,756
Salaries & Benefits $112,210,005
Fundraising Expenses $0
Program Expenses $160,456,261
Other Expenses $88,166,093
TOTAL EXPENSES $200,759,854

Year-over-Year Comparison

2022 2021 Change
Revenue $210,662,984 $208,192,046 +0.0%
Expenses $200,759,854 $194,977,719 +0.0%
Net Income $9,903,130 $13,214,327 -0.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
9
Independent Members
5
Employees
1287
Volunteers
62

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
$3,403,810
Total Directors
9
$3,320,263
Key Employees
6
$3,563,056
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paulette Davidson President and CEO 9.35
Officer Director
$0 $232,865 $1,939,705
Heather Brewer MD Board member/Employed Physician 41.12
Director
$544,532 $80,188 $624,720
Jason Knudson Board Member/Employed Physician 40.63
Director
$332,984 $60,365 $393,349
Steven Williams Board Member-Chair 0.79
Officer Director
$0 $0 $0
Kathryn Johnson Board member-Vice Chair 1.58
Officer Director
$0 $0 $0
Dan Liekvold Board member 0.83
Director
$0 $0 $0
Kenneth Meirose Board Member 1.00
Director
$0 $0 $0
Scott Sabers Board Member 0.83
Director
$0 $0 $0
Charles Lewis DO Board Member/Employed Physician 40.54
Director
$324,901 $37,588 $362,489
Mark A Thompson CFO/Treasurer 8.57
Officer
$0 $102,330 $812,360
Teresa Burroff General Counsel/Sec. Until 11/22 8.57
Officer
$0 $66,150 $651,745
Brad Archer MD Chief Medical Officer 8.57
Key Emp
$0 $117,823 $1,004,263
Stephanie Lahr MD CIO & CMIO Until 03/23 8.57
Key Emp
$0 $61,673 $720,639
Thomas Worsley Pres.Spearfish Hospital/Hills Market 55.00
Key Emp
$582,927 $64,430 $647,357
Nicole Kerkenbush - Chief Nursing/Perf Officer Until 06/23 8.57
Key Emp
$0 $58,561 $517,705
Mark Schmidt Pres.Sturgis, Lead-Deadwood Markets 55.00
Key Emp
$368,252 $54,348 $422,600
Barbara Hespen President Custer Market & System CNO 55.00
Key Emp
$218,005 $32,487 $250,492
Ray Jensen MD Physician - Orthopedic Surgery 40.00
Highest
$1,589,428 $153,174 $1,742,602
Richard Little MD Physician - Orthopedic Surgery 40.00
Highest
$941,988 $47,232 $989,220
Christopher Milnes MD Physician - Radiologist 40.00
Highest
$875,481 $68,357 $943,838
Andrew VanOsdol MD Physician - Surgery 40.00
Highest
$1,031,739 $102,504 $1,134,243
Wesley Badger Physician -Surgery 40.00
Highest
$839,923 $73,423 $913,346
Mark Schulte VP Rapid City Market 0.00
$0 $62,811 $442,692
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 No data No data No data No data
2023 $210,662,984 $200,759,854 $138,921,164 $9,903,130
2022 $208,192,046 $194,977,719 $129,627,485 $13,214,327
2021 $184,187,235 $184,472,274 $114,799,210 $-285,039
2020 $173,170,795 $169,778,103 $148,333,045 $3,392,692
2019 $159,898,560 $166,735,937 $125,732,103 $-6,837,377
2018 $155,989,796 $165,951,699 $120,880,142 $-9,961,903
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