Milwaukee Regional Medical Center Inc

Nonprofit profile at a glance

EIN
391150504
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4147784570
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$7,112,872
Expenses
$4,088,473
Assets
$70,755,876
Liabilities
$62,506,857

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

Leadership & pay

13 people listed

Executive titles in this filing

  • LEIF ERICKSON (EXECUTIVE DIRECTOR FLIGHT FOR LIFE)
  • ROBERT SIMI (EXECUTIVE DIRECTOR MRMC)

Highest reported compensation

  • MARK GERONIME (VP OF OPERATIONS): $307,226 total reported compensation
  • RACHEL STAUFFER (VP OF FINANCE): $269,264 total reported compensation
  • LEIF ERICKSON (EXECUTIVE DIRECTOR FLIGHT FOR LIFE): $265,071 total reported compensation

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

Overview

Mission

The primary purpose of the medical center is to aid and support the development and provision of health services in Wisconsin by assisting its members to develop and operate programs of education, research, and patient care. The medical center also facilitates the efficient development and functioning of the medical center campus.

What it reported doing in 2024

Milwaukee regional medical center, inc. (the center) and subsidiaries (collectively mrmc) is a nonstock, not-for-profit voluntary consortium of private nonprofit institutions that are involved in the delivery of health services, the education of health personnel, the conduct of health-related research and the provision of support per thermal, water and infrastructure services to its members. Mrmc's core members are children's hospital of Wisconsin, froedtert memorial lutheran hospital and the medical college of Wisconsin. Affiliate members include the versiti blood center of Wisconsin. The purposes of mrmc are (1) to aid and support the development and provision of tertiary level health services in the milwaukee region by assisting its members to develop and operate high-quality, efficient programs of education, research and patient care and (2) to facilitate the efficient development and functioning of the mrmc campus.the center conducts planning, coordinating and development activities and, when appropriate, organizes and/or operates such programs and services to achieve these purposes.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 72
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.1%; rating input score 31
  • Program expense ratio: 60.2%; rating input score 60
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.5%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 17.31; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 35.4%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -7.5% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -4.8% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 31.1% of revenue deployed · 60.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $307K · 13 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $8.7M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 4 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.