Tri-county Memorial Hospital Inc

What it reported doing in 2024

Tri-county memorial hospital, inc. ("tri-county") provides inpatient, outpatient, and emergency health care services and other financial support through various programs that are designed, among other matters, to enhance the health of the community including the health of low income patients. The organization operates a critical access hospital and provides inpatient acute care and swing bed services, along with an emergency department, which is open twenty-four hours per day, and other outpatient services. Visiting specialists from an affiliated organization, gundersen clinic, ltd., perform outpatient gastroenterology, orthopedic, and ophthalmic surgical procedures at the facility as well. Tri-county also operates an assisted living facility, three rural health clinics, and an ambulance service. The critical access hospital had 852 inpatient acute days, 54 respite days, 3277 swing bed days, 660 surgical operations, and 8616 er visits in the period october 1 through september 30, 2025. Consistent with the mission of tri-county, care is provided to patients regardless of their ability to pay, including providing services to those persons who are either underinsured or cannot afford health insurance because of inadequate resources. Health care services to patients under government programs, such as medicaid hospital services, are also considered part of tri-county's benefit provided to the community, since a substantial portion of such services are reimbursed at amounts less than the costs of providing care. Patients who meet certain criteria for charity care, generally based on federal poverty guidelines, are provided care at a significantly reduced rate, determined based on qualifying criteria as defined in tri-county's charity care policy, and from applications completed by patients and their families. The amount of hospital and clinic charges foregone for services and supplies furnished under this policy during 2025 totaled $1,181,432. In addition, discounts to the medicaid program for hospital and clinic services amounted to $5,209,289. Benefits for serving the community also include unpaid costs of treating the elderly, health screenings, community education through seminars and classes, and other health-related services.

Financial Efficiency

• Mission deployment rate: 74%; rating input score 74
• Program expense ratio: 78.5%; rating input score 78
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 8th 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: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 44.4%; rating input score 44; 8th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • 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: 5.8%; rating input score 56; 56th percentile among comparable filings
• Total-asset coverage ratio: 1.77; rating input score 57; 57th percentile among comparable filings
• Liabilities to assets ratio: 0.69; rating input score 18; 18th percentile among comparable filings
• Officer compensation ratio: 3.8%; rating input score 62; 62nd percentile among comparable filings

Growth

• Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
• Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
• Asset growth: 16.3% per year; rating input score 100; 83rd percentile among comparable filings