Monument Health

Legal name: Monument Health Network Inc

Nonprofit profile at a glance

EIN
460360899
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Rapid City, SD, USA
Phone
605-755-4704
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$221,066,489
Expenses
$211,943,556
Assets
$180,616,102
Liabilities
$75,630,743

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

Leadership & pay

22 people listed

Executive titles in this filing

  • Paulette Davidson (President and CEO)

Highest reported compensation

  • Ray Jensen MD (Physician - Orthopedic Surgery): $2,967,552 total reported compensation
  • Paulette Davidson (President and CEO): $2,199,697 total reported compensation
  • Andrew VanOsdol MD (Physician - Surgery): $1,212,772 total reported compensation

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

Overview

Mission

Make a difference. Every day. 2022-2023 Foundation Donor Report** **2021-2022 Foundation Donor Report** **2020-2021 Foundation Donor Report. 2021-2022 Foundation Donor Report** **2020-2021 Foundation Donor Report** **2019-2020 Foundation Donor Report. 2020-2021 Foundation Donor Report** **2019-2020 Foundation Donor Report** **2018-2019 Foundation Donor Report. Foundation Donor Reports **2022-2023 Foundation Donor Report** **2021-2022 Foundation Donor Report.

What it reported doing in 2024

Monument Health Network (MHN) owns the following acute care hospitals (including physician clinics) and senior care facilities: Monument Health Custer Hospital (CAH) / Monument Health Custer Senior Care, Monument Health Lead-Deadwood Hospital, Monument Health Spearfish Hospital and Monument Health Sturgis Hospital /Monument Health Care Center - Sturgis. MHN also owns, leases and operates provider based physician clinics in Belle Fourche, Spearfish, Lead-Deadwood, Hill City, Sturgis & Custer. In addition, MHN operates free standing clinics in Hot Springs and Buffalo. Together, these facilities provide common access to compassionate, quality, advanced health care through its numerous healing environments in the greater Black Hills region.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 62
  • Accountability: 70
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; 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: 87.4%; rating input score 87; 20th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 55.6%; rating input score 56; 15th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 4.1%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 6.8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 61st percentile among comparable filings

Details

  • What they do: 6 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 77.1% of revenue deployed · 80.4% of spending went to programs
  • Governance: 5 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $170.4M in reported program spending
  • Leadership: top reported pay $3M · 22 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $18.3M reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes grants and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 6 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 56/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.