Freeport Memorial Hospital
97% goes to programs $0 to raise $100
Freeport Memorial Hospital is a 501(c)(3) organization based in Freeport, Illinois, registered in 1939, with $169,507,199 in FY2024 revenue. CharityIndex grades it A+, and it directs about 97% of spending to programs.
1045 W Stephenson St, Freeport, IL, 61032 EIN 36-2181997 Since 1939
Revenue (FY2024)
$169.5M
▼ 3.3% vs prior year
Health median: $840K
Expenses (FY2024)
$157.9M
Net assets
$57.8M
Employees
1,265
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating97% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Freeport Memorial Hospital: 97% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating4 mo reserves · +7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Freeport Memorial Hospital: 4 mo reserves · +7% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Freeport Memorial Hospital: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Freeport Memorial Hospital: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Our mission is to improve the health of our communities, working together with those we serve.
What they do
Other uncompensated care: the hospital is a licensed medicare and medicaid provider with approximatelly 75% of its' patient base qualifying for at least one of these programs. at present the reimbursement rates of these programs do not fully cover the cost of care to these patients. the estimated unfunded cost of service for medicare patients was approximately $13,424,896 and medicaid patients was approximately $9,694,045 for the year ending 12/31/2024.
Charity care: the hospital provided charity care benefits for patients whose income was up to 300% of the federally determined proverty level. charges foregone for charity care amounted to approximately $2,659,632 in 2024. estimated costs of providing these services amounted to approximately $596,150 in 2024.
Other community benefits: the hospital operates and supports a number of community benefit programs that include but are not limited to community health education, health care support services and health professional education.
Contact & location
- Address
- 1045 W Stephenson St, Freeport, IL, 61032
- City
- Freeport
- State
- Illinois
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $141.8M (FY2013) to $169.5M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $31.5MNet assets $57.8M
Operating margin
6.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$89.4M
Total liabilities
$31.5M
Net assets
$57.8M
Salaries & benefits
$55.3M
35% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $169,507,199▼3.3% | $157,898,905▲2.4% | $57,834,075▼18.1% | $89,353,656▼12.2% | 990 |
| 2023 | $175,350,247▲3.8% | $154,123,019▲1.2% | $70,599,795▼8.1% | $101,724,533▼4.7% | 990 |
| 2022 | $168,885,534▼0.6% | $152,350,876▲9.6% | $76,806,464▼14.9% | $106,715,723▼16.2% | 990 |
| 2021 | $169,840,576▲4.2% | $138,980,643▲6.7% | $90,301,346▲7.0% | $127,271,445▲2.1% | 990 |
| 2020 | $163,062,274▲3.4% | $130,297,402▼2.1% | $84,367,121▲15.7% | $124,710,345▲24.6% | 990 |
| 2019 | $157,673,978▲1.2% | $133,086,703▲3.5% | $72,948,965▼0.9% | $100,084,813▲0.5% | 990 |
| 2018 | $155,803,811▲10.1% | $128,619,991▲7.4% | $73,638,065▲3.7% | $99,601,603▲0.1% | 990 |
| 2017 | $141,512,963▲3.7% | $119,790,890▼12.1% | $71,026,935▲59.7% | $99,530,948▲36.1% | 990 |
| 2016 | $136,474,439 | $136,256,770▲23.7% | $44,470,652▼6.7% | $73,154,862▼16.0% | 990 |
| 2015 | $136,501,331▼2.1% | $110,135,685▼0.6% | $47,664,484▲1.8% | $87,094,468▲8.5% | 990 |
| 2014 | $139,470,387▼1.6% | $110,811,437▼2.9% | $46,820,145▼10.9% | $80,290,021▲0.9% | 990 |
| 2013 | $141,781,184 | $114,122,168▲6.4% | $52,521,602▲27.8% | $79,575,417▲8.4% | 990 |
| 2012 | — | $107,283,036▼1.5% | $41,091,334▲12.1% | $73,410,812▲3.0% | 990 |
| 2011 | — | $108,878,058▲4.7% | $36,663,827▼23.4% | $71,249,362▼5.0% | 990 |
| 2010 | — | $103,953,281 | $47,871,980 | $75,004,004 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Arshad Shaikh Md — $696,938 (0.44% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Arshad Shaikh Md | Physician | 40 | $696,938 |
| Clarence Parks Md | Chief Medical Officer | 40 | $430,116 |
| Karenmarie Meyer Md | Physician | 40 | $403,688 |
| Mark Gridley | President/ceo | 25 | $363,701 |
| Irena Markovic Md | Physician | 40 | $318,011 |
| Beth Kalnins Md | President Medical Staff | 40 | $304,382 |
| Zachary Fulton Md | Physician | 40 | $294,409 |
| Kathryn J Martinez | Chief Nursing Officer | 40 | $261,916 |
| Daniel Lee Md | Physician | 40 | $218,143 |
| Michael C Clark | Executive Vp/cfo | 25 | $215,070 |
| Leonard Carter | Cheif Human Resource Officer | 25 | $144,204 |
| Amy Baker | Board Member | 0.5 | — |
| Bruce Baldwin | Secretary | 0.5 | — |
| Dan Schmitt | Board Member | 0.5 | — |
| Gary Quinn | Board Member | 0.5 | — |
| Glenda Koeller | Board Member | 0.5 | — |
| Heather Mcpherson | Chair | 0.5 | — |
| Kimberly Beggin | Board Member | 0.5 | — |
| Mark Wright | Board Member | 0.5 | — |
| Rebecca Pedersen Md | Cheif Quality Office | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Freeport Emergency Specialists Ltd | Physician Services | $5,253,859 |
| Camelot Radiology Associates Ltd | Physician Services | $3,350,239 |
| Rockford Anesthesiologists Assoc | Health Care | $2,158,600 |
| Medical Solutions | Medical Services | $2,151,408 |
| Pog Management LLC | Medical Services | $1,620,370 |
Grants received · $74K total
1 grant to Freeport Memorial Hospital totaling $74K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Heart Association Inc | Equipment upgrade | 2018 | $74,000 |
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Frequently asked questions
- Is Freeport Memorial Hospital a legitimate nonprofit?
- Yes. Freeport Memorial Hospital is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 36-2181997, based in Freeport, Illinois. Donations are tax-deductible.
- What is Freeport Memorial Hospital's EIN?
- Freeport Memorial Hospital's Employer Identification Number (EIN) is 36-2181997.
- How much revenue does Freeport Memorial Hospital report?
- Freeport Memorial Hospital reported $169,507,199 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Freeport Memorial Hospital's spending goes to programs?
- Freeport Memorial Hospital spends about 97% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Freeport Memorial Hospital have?
- CharityIndex grades Freeport Memorial Hospital A+, based on program efficiency and fundraising cost.
- How much does Freeport Memorial Hospital's highest-paid employee make?
- The highest reported compensation on Freeport Memorial Hospital's latest Form 990 is $696,938, paid to Arshad Shaikh Md (Physician).
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Data for Freeport Memorial Hospital (EIN 36-2181997) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.