MERCY HOSPITALCEDAR RAPIDSIA ENDOWMENT FOUNDATION INC

EIN: 510233180 501(c)(3) Health Care

CEDAR RAPIDS, IA

Total Revenue
$11,056,520
Total Expenses
$10,255,926
Total Assets
$136,358,421
Net Assets
$132,904,337
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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
1977
Legal Domicile
IA
Principal Officer
NATHAN VAN GENDEREN
Phone
3193986105
Tax Period
2023-07-01 to 2024-06-30

MERCY HOSPITALCEDAR RAPIDSIA ENDOWMENT FOUNDATION INC, founded in 1977, is a mid-sized nonprofit in the Health Care sector that reported $11.1M in total revenue in fiscal year 2023. Expenses of $10.3M left a modest 7% surplus.

Mission

EXCLUSIVELY ORGANIZED TO FOSTER, SUPPORT, AND ENCOURAGE THE MISSION AND ACTIVITES OF MERCY MEDICAL CENTER.

Program Service Accomplishments

Program 1
Expenses: $8,621,157

TO FOSTER, SUPPORT, AND ENCOURAGE THE MISSION AND ACTIVITIES OF MERCY MEDICAL CENTER.

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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 $6,807,329
Program Service Revenue $0
Investment Income $5,022,331
Other Revenue $-773,140
TOTAL REVENUE $11,056,520

Expense Breakdown

Grants Paid $8,621,157
Salaries & Benefits $1,093,628
Fundraising Expenses $542,013
Program Expenses $8,621,157
Other Expenses $541,141
TOTAL EXPENSES $10,255,926

Year-over-Year Comparison

2023 2022 Change
Revenue $11,056,520 $11,326,813 0.0%
Expenses $10,255,926 $17,808,830 -0.4%
Net Income $800,594 $-6,482,017 -1.1%
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
13
Independent Members
11
Employees
10
Volunteers
13

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
6
$1,603,905
Total Directors
14
$795,201
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIMOTHY QUINN MD SECRETARY 3.00
Officer Director
$0 $85,903 $795,201
JOHN-PAUL BESONG DIRECTOR 1.00
Director
$0 $0 $0
STACY CATALDO DIRECTOR 1.00
Director
$0 $0 $0
CHRIS DEWOLF DIRECTOR 1.00
Director
$0 $0 $0
BARRIE ERNST DIRECTOR 1.00
Director
$0 $0 $0
BRUCE MCGRATH FORMER DIRECTOR 1.00
Director
$0 $0 $0
JANET MERFELD DIRECTOR 1.00
Director
$0 $0 $0
CHERYLE MITVALSKY CHAIRMAN 1.00
Officer Director
$0 $0 $0
DARREL MORF VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
BRANDI MUELLER DIRECTOR 1.00
Director
$0 $0 $0
JOHN RIFE DIRECTOR 1.00
Director
$0 $0 $0
CHARLES ROHDE DIRECTOR 1.00
Director
$0 $0 $0
EMMETT J SCHERRMAN TREASURER 1.00
Officer Director
$0 $0 $0
PATRICK SLATER DIRECTOR 1.00
Director
$0 $0 $0
NATHAN VAN GENDEREN EXECUTIVE VP/CFO/ASSISTANT TREASURER 1.00
Officer
$0 $66,834 $558,378
LORRIE M ERUSHA PRESIDENT 40.00
Officer
$222,903 $27,423 $250,326
MINDY DAVIS-KAYSER VICE PRESIDENT 40.00
Highest
$101,932 $11,396 $113,328
TIMOTHY L CHARLES FORMER SECRETARY 3.00
$0 $427 $737,812
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 $11,056,520 $10,255,926 $136,358,421 $800,594
2023 $11,326,813 $17,808,830 $132,829,882 $-6,482,017
2022 $17,935,593 $7,567,382 $138,946,347 $10,368,211
2021 $26,438,389 $3,923,632 $139,695,167 $22,514,757
2020 $33,984,489 $3,457,373 $103,619,269 $30,527,116
2019 $4,071,689 $3,628,726 $72,135,402 $442,963
2018 $4,086,142 $3,472,942 $71,194,661 $613,200
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