Stewart Memorial Hospital and Clinics
Legal name: Stewart Memorial Community Hospital
Nonprofit profile at a glance
- EIN
- 420860039
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Lake City, IA, US
- Phone
- (712) 464-3171
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $46,487,377
- Expenses
- $40,369,267
- Assets
- $58,039,913
- Liabilities
- $32,664,326
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Linn Block (CEO)
Highest reported compensation
- Dr Susan Hornback DO (Family Medicine): $981,079 total reported compensation
- Derek Duncan DO (Medical Counsel): $643,868 total reported compensation
- Josh Smith DO (General Surgery): $576,204 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide high-quality, compassionate healthcare services to the communities we serve.
What it reported doing in 2024
Stewart Memorial Community Hospital is a 20-bed Critical Access Hospital that also operates 4 Rural Health Clinics. Stewart Memorial employs 14 Family Practice providers, 3 behavioral health provider, 2 General Surgeons and 3 CRNAs. Besides offering 24/7 Emergency Room services, Stewart Memorial also provides general Radiology, CT Scans, Ultrasound, Mobile MRI, Nuclear Scans, Laboratory, Blood Administration, Cardiac Rehabilitation, EKGs, Respiratory Therapy, Physical Therapy, Occupational Therapy, Speech Therapy, Operating Room, Pharmacy, Infusions and Obstetrics. During 2024, Stewart Memorial had 708 Acute Patient days, 2,491 Emergency Room visits, 1,605 Operating Room Procedures and 40,646 Clinic encounters.The Hospital provides financial assistance to patients who meet certain criteria under its financial assistance policy. Because the Hospital does not pursue collection of amounts determined to qualify as patient financial assistance, they are not reported as patient service revenue in the consolidated statements of operations. The Hospital is dedicated to providing comprehensive healthcare services to all segments of society, including the aged and otherwise economically disadvantaged. In addition, the Hospital provides a variety of community health services at or below cost.The Hospital maintains a financial assistance program to patients who are financially unable to pay for the healthcare services they receive. It is the policy of the Hospital not to pursue collection of amounts determined to qualify as charity care. Accordingly, the Hospital does not report these amounts in patient service revenue. The Hospital determines the costs associated with providing charity care by aggregating the direct and indirect costs, including salaries, benefits, supplies, and other operating expenses, based on the overall cost to charge ratio for the Hospital. The costs of caring for charity care patients for the year ended December 31, 2024 were approximately $110,000.
Operating model
- Revenue model
- Other-operating. 97% 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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 71
- Transparency & Controls: 70
- Accountability: 88
- Sustainability: 54
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 72.7%; rating input score 73
- Program expense ratio: 83.5%; rating input score 84
- Fundraising efficiency: $4.66 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 87.5%; rating input score 88; 20th 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: 13.2%; rating input score 73; 73rd percentile among comparable filings
- Total-asset coverage ratio: 1.44; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.56; rating input score 25; 25th percentile among comparable filings
- Officer compensation ratio: 9.4%; rating input score 23; 23rd percentile among comparable filings
Growth
- Program expense growth: 0.7% per year; rating input score 100; 13th percentile among comparable filings
- Revenue growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings
- Asset growth: 9.6% per year; rating input score 100; 63rd percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site · 3 operating locations identified
- Where the money goes: 72.7% of revenue deployed · 83.5% of spending went to programs
- Governance: 7 of 8 board members independent · 7 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $33.7M in reported program spending
- Leadership: top reported pay $981K · 15 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.1M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 9 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Financial Efficiency: Fundraising efficiency scored 19/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Officer compensation ratio scored 23/100.
- High — Sustainability: Liabilities to assets ratio scored 25/100.