Overview
What is Mercy Hospital Foundation?
Mercy Hospital Foundation, situated in Iowa City, Iowa, serves as a crucial supporter of Mercy Hospital Iowa City. Primarily, its role involves generating private funds and managing them in accordance with donors' intentions. In fiscal year 2022, the foundation provided $1,350,000 to the hospital, contributing significantly to various projects such as the Electronic Health Record System, medical equipment, patient comfort items, and scholarships. The funding was primarily directed towards Mercy Iowa City's new Electronic Health Record rollout, with a substantial contribution of $1,068,000. Beyond this, the foundation supported the upgrade of the Cardiopulmonary Rehab System and Pharmacy Pill Packager System. It also funded the hospital website upgrade, enabling patients to search for services on a mobile-friendly platform. The scholarship program offered financial aid to a high school graduate planning to pursue a health career and 11 employees pursuing advanced nursing education, with scholarships totaling $1,000 and $17,000 respectively. Moreover, the foundation provides educational materials for the Diabetes Education program and supports women who cannot afford diagnostic testing for breast cancer, utilizing donated funds for mammograms, ultrasounds, and related procedures. The medical and other equipment supported by the foundation cater to a diverse hospital population.
Official website here: www.mercyiowacity.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
Mercy Hospital Foundation has received an 81% rating, indicating a solid performance in accountability and finance. The rating is primarily based on a single beacon score, showcasing the organization's strong governance practices. The foundation boasts a majority independent board, with 90% of its members being independent, which enhances its credibility.
The organization also demonstrates excellence in financial management, as evidenced by a low liabilities to assets ratio of 0.51% and a program expense ratio of 69.78%. These figures suggest that a significant portion of its expenses is directed towards programs rather than administrative costs. Additionally, the foundation has implemented comprehensive policies, such as conflict of interest and whistleblower protections, which reflect a commitment to ethical operations.
While the foundation has shown to be effective in many areas, the rating is heavily reliant on its financial metrics. There may be other aspects of organizational effectiveness and community impact that are not captured through this financial-focused evaluation. Overall, Mercy Hospital Foundation appears to maintain strong governance and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Mercy Hospital Foundation legitimate?
Mercy Hospital Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mercy Hospital Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $205,008
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,310
For more financial information, click here
Official website here: www.mercyiowacity.org
What is the mission statement of Mercy Hospital Foundation?
The Mercy Hospital Foundation's mission is to raise private funds for Mercy Hospital, managing and investing these resources according to donors' intentions. The primary objective is to support Mercy Hospital in various ways, including improving patient care, enhancing the hospital's healing environment, and aiding specific departments such as Lab, Pharmacy, Cardiac Rehab, Cancer Care Services, and Nursing Units. The foundation has provided funding for projects like the new Electronic Health Record System, cardiac rehab equipment, patient comfort items, and scholarships for health career students and nursing professionals. Moreover, the foundation supports programs like Diabetes Education and assists women in need with diagnostic testing for breast cancer.
Official website here: www.mercyiowacity.org
Who is the CEO of Mercy Hospital Foundation?
Tom Clancy is the Treasurer of Mercy Hospital Foundation. The CEO's salary of Mercy Hospital Foundation is $0 and their total compensation is $0.
Official website here: www.mercyiowacity.org
What is the revenue of Mercy Hospital Foundation?
Mercy Hospital Foundation's revenue in 2022 was $1,099,741.
Official website here: www.mercyiowacity.org
Who are the executives of Mercy Hospital Foundation and what are their salaries?
There 10 volunteers at Mercy Hospital Foundation.
Here are 16 key members and their salaries (Mercy Hospital Foundation's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $346,293
- Other: $45,192
- Compensation: $0
- Related: $316,695
- Other: $17,948
- Compensation: $0
- Related: $158,313
- Other: $27,781
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $141,766
- Other: $24,885
Official website here: www.mercyiowacity.org
Where can I find the form 990 for Mercy Hospital Foundation?
Mercy Hospital Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercyiowacity.org
Learn more at the official website: www.mercyiowacity.org
Mission Statement of Mercy Hospital Foundation
The Mercy Hospital Foundation, a nonprofit organization, is dedicated to securing private support for Mercy Hospital Iowa City. Its primary mission involves managing, investing, and disbursing funds in accordance with donors' intentions to aid Mercy Hospital. The foundation plays a vital role in providing financial assistance to various departments within the hospital, such as patient care, equipment upgrades, and scholarship programs.
In fiscal year 2022, the Mercy Hospital Foundation allocated a significant portion of its funds to Mercy Hospital Iowa City's new Electronic Health Record system, contributing $1,068,000 to this crucial project. Besides this, the foundation supported the upgrade of the Cardiopulmonary Rehab System, Tele Rehab VersaCare Telemetry Monitoring System, and an upgraded Pharmacy Pill Packager System. The foundation also contributed to the hospital website upgrade, enabling patients to search for services on a mobile-friendly platform.
Furthermore, the Mercy Hospital Foundation supports Mercy's scholarship program by offering financial aid to students pursuing health careers and hospital employees seeking advanced nursing education. Additionally, the foundation provides all educational materials used in the Diabetes Education program, catering to around 450 patients. To address the needs of women who cannot afford diagnostic testing for breast cancer, the foundation uses donated funds for mammograms, ultrasounds, and other related procedures. In summary, the Mercy Hospital Foundation serves as a vital source of private support for Mercy Hospital Iowa City, investing in various hospital departments and initiatives to improve patient care and enhance the overall hospital environment.
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Impact
October, 2024
Mercy Hospital Foundation has significantly enhanced patient care and support services at Mercy Hospital Iowa City. In fiscal year 2022, the Foundation allocated $1,350,000 to various initiatives aimed at improving health outcomes and the overall hospital environment.
A major portion of this funding, $1,068,000, was dedicated to upgrading the new Electronic Health Record System, which is critical for streamlining patient information and enhancing care delivery. Additionally, investments were made in essential medical equipment, including cardiac rehabilitation tools and a new pharmacy pill packager system, optimizing operational efficiency and patient safety.
The Foundation also plays a crucial role in patient comfort and education. It provides all educational materials for approximately 450 patients in the Diabetes Education program and offers a scholarship program that awarded $1,000 health career scholarships to high school students and supported 17 nursing scholarships for advanced education to hospital employees.
Furthermore, the Foundation addresses health disparities by assisting women who cannot afford necessary diagnostic testing for breast cancer. This ensures that critical services such as mammograms and ultrasounds are accessible to those in need.
Overall, Mercy Hospital Foundation’s impactful contributions directly improve healthcare services, empower students pursuing health careers, and enhance the overall experience for patients in Iowa City and surrounding areas.
This information is meant to be a general summary of Mercy Hospital Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $825,418
- Gross Receipts: $3,219,897
Assets and Liabilities:
- Total Assets: $16,632,605
- Total Liabilities: $94,401
- Net Assets: $16,538,204
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Organization Details
Founding Year
1969
Phone
(319) 339-3657Principal Officer
Tom Clancy
Main Address
500 East Market Street, Iowa City, IA, 52245
Website
www.mercyiowacity.orgNTEE Category
Code: E22I - Health
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