Mhic

Nonprofit profile at a glance

EIN
420680391
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Iowa City, IA, USA
Phone
3193390300
Rating
36
Verdict
REVIEW
Rating confidence
Moderate
Sector
Hospital, General
Affiliation
Christianity

Official website

Reported finances

Revenue
$11,270,597
Expenses
$4,866,854
Assets
$10,346,344
Liabilities
$81,109,587

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • DAN CHILDERS (PRESIDENT/SECRETARY/TREASURER)

People named in this filing

  • DAN CHILDERS (PRESIDENT/SECRETARY/TREASURER)
  • MARC ROSS (FINANCIAL ADVISOR TO MHLT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prior to closure, mhic healed and comforted the sick and worked to improve the health of the community in the spirit of jesus christ and the catholic tradition of the sisters of mercy.

What it reported doing in 2024

Hospital services. In keeping with our mission of healing and comforting the sick, providing hospital medical services is at the heart of what we do. These services are provided in inpatient and outpatient settings, in situations that may be emergent, acute or chronic. Services include a 24 hour emergency unit, intensive and cardiovascular care. We also service a maternity unit and newborn nursery along with other surgical services, cardiac cath lab, cancer care, digestive care, telemetry monitored care, medical care, stroke care. Effective january 31, 2024, mhic ceased providing healthcare services to the community as a result of filing for bankruptcy and the organization's assets being acquired by the university of Iowa.

Operating model

Revenue model
Other-operating. 68% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 92
  • Accountability: 24
  • Sustainability: 75
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 56.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 7.84; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: -3.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -6.1% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 1 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.