Mercy Hospital
Only 60% goes to programs Thin reserves Declining revenue
Mercy Hospital is a 501(c)(3) organization based in Iowa City, Iowa, registered in 1946, with $19,700,122 in FY2023 revenue. CharityIndex grades it C, and it directs about 60% of spending to programs.
500 E Market St, Iowa City, IA, 52245 EIN 42-0680391 Since 1946
Revenue (FY2023)
$19.7M
▼ 88.0% vs prior year
Health median: $840K
Expenses (FY2023)
$124.6M
Net assets
-$64.4M
Employees
1,251
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →C+Program efficiency40% of the rating60% to programs
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 Mercy Hospital: 60% to programs earns a C+ on this criterion. See the exact thresholds →
FFinancial health25% of the rating0 mo reserves · -532% 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 Mercy Hospital: 0 mo reserves · -532% margin earns a F on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Mercy Hospital: 5 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 Mercy Hospital: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To heal and comfort the sick and improve the health of the community in the spirit of jesus christ.
What they do
Education. the ongoing education of mercy staff is critical in the fast changing field of health care and is necessary to meet regulations and certifications. mercy hosts a number of professional continuing education classes each year, which are attended by it's own staff and staff from other institutions. mercy provides a setting for students who are considering a career in health care including a class to provide insight to possible careers and preparation for cna exam.these educational activities were discontinued effective january 31, 2024, when mercy hospital ceased operations as a result of bankruptcy and the organization's assets being acquired by the university of iowa.
Community benefit. mercy's largest community benefit is the unpaid cost of medicaid ($6.8 million). this community benefit activity ceased effective january 31, 2024, when mercy hospital discontinued healthcare operations as a result of bankruptcy and the acquisition of its assets by the university of iowa.
Contact & location
- Address
- 500 E Market St, Iowa City, IA, 52245
- City
- Iowa City
- State
- Iowa
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $175.3M (FY2013) to $19.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $108.4MNet assets -$64.4M
Operating margin
-532.5%
Spent more than it raised in the latest fiscal year.
Total assets
$44.0M
Total liabilities
$108.4M
Net assets
-$64.4M
Salaries & benefits
$40.6M
33% of expenses
Board members
7
4 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $19,700,122▼88.0% | $124,602,433▼35.5% | -$64,434,365▼376% | $43,990,746▼72.5% | 990 |
| 2022 | $164,462,075▼7.1% | $193,174,817▼0.3% | $23,376,616▼58.1% | $160,030,077▼23.6% | 990 |
| 2021 | $177,018,605▼8.4% | $193,835,584▲6.0% | $55,806,422▼42.4% | $209,423,313▼19.8% | 990 |
| 2020 | $193,280,238▲11.5% | $182,828,790▲3.9% | $96,870,654▲63.2% | $261,026,318▲0.5% | 990 |
| 2019 | $173,374,992▲0.8% | $176,040,298▲12.0% | $59,360,979▼36.3% | $259,707,250▼1.5% | 990 |
| 2018 | $171,927,524 | $157,246,302▲5.2% | $93,175,919▼15.3% | $263,566,195▼2.4% | 990 |
| 2017 | $171,944,431▲9.7% | $149,532,683▼7.5% | $110,051,394▲11.8% | $270,071,844▼6.5% | 990 |
| 2016 | $156,788,917▲2.9% | $161,692,850▲4.8% | $98,452,288▼6.7% | $288,882,963▼8.2% | 990 |
| 2015 | $152,441,350▼2.7% | $154,244,667▲4.4% | $105,496,457▼32.4% | $314,835,459▼5.7% | 990 |
| 2014 | $156,712,740▼10.6% | $147,755,039▲2.6% | $156,060,031▼10.3% | $333,980,445▲4.9% | 990 |
| 2013 | $175,311,430 | $144,069,218▼3.6% | $174,043,325▲21.5% | $318,244,873▲10.9% | 990 |
| 2012 | — | $149,487,252▲3.1% | $143,240,165▲16.5% | $287,047,862▲0.3% | 990 |
| 2011 | — | $144,989,062▲3.1% | $122,933,306▼16.5% | $286,076,441▲6.1% | 990 |
| 2010 | — | $140,602,779▼1.3% | $147,306,472▲7.1% | $269,627,417▼2.2% | 990 |
| 2009 | — | $142,496,148 | $137,585,748 | $275,560,202 | 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 (FY2023)
Highest-paid: Michael Hoffman — $572,630 (0.46% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Michael Hoffman | Physician | 40 | $572,630 |
| Ali Mohammed | Physician | 40 | $483,494 |
| Spas Kotev | Physician | 40 | $474,011 |
| Katherine Ignacio | Physician | 40 | $464,006 |
| Luke Brunkhorst | Physician | 40 | $457,373 |
| Tom Clancy | Ceo & Adminnistrator | 40 | $315,704 |
| Kim Volk | Vp - Nursing | 40 | $246,879 |
| Dawna Miller | Former Officer (end 7/22) | 0 | $122,216 |
| Dr Chris Scott | Board Member (end 1/24) | 1 | — |
| Jeffrey Rooney | Former Officer (end 04/23) | 0 | — |
| Jim Porter | Treasurer | 41 | — |
| Lynn Whisler | Secretary | 1 | — |
| Madeline Windauer | Vice Chair | 1 | — |
| Mark Toney | Chief Restructuring Officer | 40 | — |
| Mary Westbrook | Board Member (end 1/24) | 1 | — |
| Mike Trachta | Former Officer (end 03/23) | 0 | — |
| Peter Gardner | Board Member (end 1/24) | 1 | — |
| Sr Helen Marie Burns | Board Member (end 1/24) | 1 | — |
| Sr Linda Bechen | Board Member | 1 | — |
| Sr Rita Specht | Board Member (end 1/24) | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Medefis Consolidated | Contract Nursing Labor | $11,763,317 |
| Toneykorf Partners LLC | Management Services | $5,553,885 |
| Mcdermott Will and Emery LLC | Legal Services | $4,589,778 |
| Altera Digital Health Inc | Electronic Health Record | $2,801,998 |
| Revology | Revenue Cycle Oversight | $1,927,270 |
Grants received · $85K total
4 grants to Mercy Hospital totaling $85K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Heart Association Inc | Stroke prevention programs | 2024 | $20,000 |
| American Heart Association Inc | Stroke education & awareness | 2023 | $20,000 |
| American Heart Association Inc | Stroke education & awareness | 2022 | $20,000 |
| American Heart Association Inc | Emergency equipment upgrade | 2016 | $25,000 |
Grants made · $30K in FY2023
1 grant totaling $30K in FY2023. All grants made by Mercy Hospital →
| Recipient | Purpose | Amount |
|---|---|---|
| Mercy Hospital Iowa City Iowa Self Insurance Plan and Tr | General support | $30,000 |
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Frequently asked questions
- Is Mercy Hospital a legitimate nonprofit?
- Yes. Mercy Hospital is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 42-0680391, based in Iowa City, Iowa. Donations are tax-deductible.
- What is Mercy Hospital's EIN?
- Mercy Hospital's Employer Identification Number (EIN) is 42-0680391.
- How much revenue does Mercy Hospital report?
- Mercy Hospital reported $19,700,122 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Mercy Hospital's spending goes to programs?
- Mercy Hospital spends about 60% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Mercy Hospital have?
- CharityIndex grades Mercy Hospital C, based on program efficiency and fundraising cost.
- How much does Mercy Hospital's highest-paid employee make?
- The highest reported compensation on Mercy Hospital's latest Form 990 is $572,630, paid to Michael Hoffman (Physician).
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Data for Mercy Hospital (EIN 42-0680391) 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.