Milwaukee Regional Medical Center

Legal name: Milwaukee Regional Medical Center Thermal Service Inc

Nonprofit profile at a glance

EIN
463768736
IRS 990 coverage
2016–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Milwaukee, WI, US
Phone
414.778.4570
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$32,455,789
Expenses
$32,415,403
Assets
$227,296,317
Liabilities
$228,372,549

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ROBERT SIMI (PRESIDENT)

Highest reported compensation

  • RACHEL STAUFFER (VP OF FINANCE): $269,265 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 Milwaukee Regional Medical Center (MRMC) is a collaborative academic medical campus that brings together leading health organizations to provide advanced patient care, biomedical research, and health sciences education.

What it reported doing in 2024

Milwaukee regional medical center thermal service, inc. Purpose is to provide steam and chilled water to the members of mrmc.

Operating model

Revenue model
Earned-program. 100% 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

MIXED - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 55
  • Accountability: 87
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.8%; rating input score 42
  • Program expense ratio: 42%; rating input score 42
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 7.01; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: 41.8% of revenue deployed · 42% of spending went to programs
  • Governance: 6 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $13.6M in reported program spending
  • Leadership: top reported pay $269K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $15.4M reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 42/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.