PRAIRIE LAKES HEALTH CARE SYSTEM I… - Form 990 Financial Data

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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

1986

Legal Domicile

Principal Officer

BILL GASSEN

Phone

6058827000

Tax Period

2024-06-01 to 2025-05-31

PRAIRIE LAKES HEALTH CARE SYSTEM INC, founded in 1986, is a major nonprofit in the Health Care sector that reported $202.9M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $33.2M, a strong 16% operating margin.

Mission

WE MAKE A POSITIVE DIFFERENCE IN THE HEALTH OF THE PATIENTS AND COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

Expenses: $149,482,123 Revenue: $160,935,694

PRAIRIE LAKES HEALTH CARE SYSTEM SERVES TEN COUNTIES IN NORTHEASTERN SOUTH DAKOTA AND WESTERN MINNESOTA. IT IS COMMITTED TO PROVIDING ACCESSIBLE, HIGH QUALITY, COST-EFFECTIVE HEALTHCARE SERVICES. 34 PHYSICIANS HAVE BEEN RECRUITED OVER THE PAST DECADE TO BUILD NEW SERVICES AND BETTER SERVE THE COMMUNITY. IN 2025, A NEW CLINIC OPENED IN CASTLEWOOD, SOUTH DAKOTA FOCUSING ON PRIMARY CARE AND PHYSICAL THERAPY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $75,046

Program Service Revenue $162,495,977

Investment Income $38,124,376

Other Revenue $2,213,053

TOTAL REVENUE $202,908,452

Expense Breakdown

Grants Paid $235,896

Salaries & Benefits $85,433,144

Fundraising Expenses $0

Program Expenses $149,482,123

Other Expenses $84,039,949

TOTAL EXPENSES $169,708,989

Year-over-Year Comparison

	2024	2023	Change
Revenue	$202,908,452	$161,897,147	+0.3%
Expenses	$169,708,989	$147,024,495	+0.2%
Net Income	$33,199,463	$14,872,652	+1.2%

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

Governance

Voting Members

Independent Members

Employees

938

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

$1,513,131

Total Directors

$1,378,046

Key Employees

$944,027

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CASEY JOHNSTON MD	DIRECTOR/PHYSICIAN	40.00	Director	$1,297,767	$80,279	$1,378,046
ROB PETERSON	PAST CHAIR	1.00	Officer Director	$0	$0	$0
VINCE FOLEY	CHAIR	1.00	Officer Director	$0	$0	$0
CHRIS CARTER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SCOTT MUNGER	SECRETARY	1.00	Officer Director	$0	$0	$0
MIKE LUKEN	TREASURER	1.00	Officer Director	$0	$0	$0
ALAN CHRISTENSEN MD	DIRECTOR	1.00	Director	$0	$0	$0
DON ROBY	DIRECTOR	1.00	Director	$0	$0	$0
TAMMY DAVIS	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN OVIATT	DIRECTOR	1.00	Director	$0	$0	$0
KRISTEN HENDERSON	DIRECTOR	1.00	Director	$0	$0	$0
JESSE PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
DOUG SHARP	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ALLEN	PRESIDENT/CEO	40.00	Officer	$601,671	$102,697	$704,368
LYNN SEVERSON	CFO	40.00	Officer	$334,391	$68,328	$402,719
TIM PUGSLEY	CIO	40.00	Officer	$304,717	$101,327	$406,044
ALISON GILBERTSON	VP OF HUMAN RESOURCES	40.00	Key Emp	$238,268	$47,066	$285,334
LAURIE FIEBER	VP OF CLINIC OPERATIONS	40.00	Key Emp	$240,548	$59,538	$300,086
SHELLY TURBAK	CNO	40.00	Key Emp	$272,111	$86,496	$358,607
RAVISHANKAR KALAGA MD	PHYSICIAN	40.00	Highest	$1,414,016	$49,058	$1,463,074
JEFFREY SMITH MD	PHYSICIAN	40.00	Highest	$1,466,218	$80,279	$1,546,497
GERALD RIEBER MD	PHYSICIAN	40.00	Highest	$1,175,212	$87,779	$1,262,991
SVIEN SENNE	PHYSICIAN	40.00	Highest	$609,090	$80,279	$689,369
JACOB SCHAEFFER MD	PHYSICIAN	40.00	Highest	$1,098,681	$80,279	$1,178,960

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	$202,908,452	$169,708,989	$461,671,217	$33,199,463
2024	$161,897,147	$147,024,495	$441,055,297	$14,872,652
2023	$143,812,571	$137,642,732	$404,656,079	$6,169,839
2022	$140,443,568	$125,590,516	$432,088,879	$14,853,052
2021	$139,220,491	$110,908,515	$435,632,850	$28,311,976
2020	$115,979,854	$102,182,844	$318,634,035	$13,797,010
2019	$120,059,846	$100,777,376	$328,290,825	$19,282,470
2018	$114,773,656	$97,296,049	$329,183,316	$17,477,607

PRAIRIE LAKES HEALTH CARE SYSTEM INC