2026-07-27T15:15:36-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 10401 W INNOVATION DR STE 300 WAUWATOSA WI 53226 990 2025-01-01 260022777 OMC REGIONAL FOUNDATION OMCR 5072927200 210 NINTH STREET SE ROCHESTER MN 55904 TIM WEIR CHIEF EXECUTIVE OFFICER 5072927200 2026-07-24 1 KRISTEN DONLEVY P01670215 4144761880 2026-07-24 2025 2025-03-06 01:10:19Z TIM WEIR 210 NINTH STREET SE ROCHESTER MN 55904 1020845 0 1 X WWW.OMCREGIONALFOUNDATION.ORG X 2002 MN TO ADVOCATE FOR AND SUPPORT OLMSTED MEDICAL CENTER AND ASSIST ITS HEALTHCARE SERVICES. 9 7 0 58 0 0 438646 604633 0 0 155941 239061 111875 108600 706462 952294 22958 106784 0 0 0 0 0 0 0 254735 237056 277693 343840 428769 608454 6475356 7346611 0 0 6475356 7346611 TO ADVOCATE FOR AND SUPPORT OLMSTED MEDICAL CENTER AND TO ASSIST IT IN FUNDING QUALITY HEALTHCARE SERVICES AND EDUCATION IN THE COMMUNITIES IT SERVES. 0 0 286158 73347 0 ESTABLISHED, DEVELOPED, SPONSORED, PROMOTED AND CONDUCTED CHARITABLE ACTIVITIES DEVOTED TO PROMOTING AND IMPROVING HEALTH FOR RESIDENTS OF THE COMMUNITY THROUGH COMMUNITY EDUCATION AND HEALTH AWARENESS ACTIVITIES, HEALTHCARE RELATED CAPITAL EXPENDITURES AND EDUCATIONAL SCHOLARSHIPS IN THE HEALTHCARE PROFESSIONS. 33437 33437 0 CARL AND IHLA PETERSEN TRUST PATIENT ASSISTANCE PROGRAM: OMC REGIONAL FOUNDATION HAS DESIGNATED PROCEEDS FROM THE CARL AND IHLA PETERSEN TRUST TO ASSIST WITH OLMSTED MEDICAL CENTER PATIENTS AND FAMILIES WHO RESIDE IN OLMSTED COUNTY, THAT DO NOT HAVE SUFFICIENT INSURANCE COVERAGE NOR FINANCIAL MEANS BUT ARE NOT ELIGIBLE FOR MEDICAL ASSISTANCE, TO PAY AT LEAST A PORTION OF THEIR MEDICAL BILLS. 8904 0 0 MEDICAL EDUCATION FOR THE COMMUNITY: TO PROVIDE EDUCATIONAL OPPORTUNITIES TO OLMSTED MEDICAL CENTER CLINICIANS AND TO THE COMMUNITY VIA THE NOEL R PETERSON LECTURE SERIES, BURICH ELECTRONIC LIBRARY, AND CONTINUING MEDICAL EDUCATION LECTURES. 328499 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 7 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X KEVIN HIGGINS 5072883443 210 9TH STREET SE ROCHESTER MN 55904 TIM WEIR FACHE DIRECTOR & OMC CEO 1.00 40.00 X X 0 986984 48417 JAMES HOFFMANN DO DIRECTOR & OMC PRESIDENT 1.00 32.00 X X 0 672464 49842 LILIA PONTON MD SECRETARY & OMC PHYSICIAN 1.00 40.00 X X 0 381476 26188 TYLER COLEMAN PRESIDENT 1.00 0.00 X X 0 0 0 DENISE KELLY VICE PRESIDENT 1.00 0.00 X X 0 0 0 DAVID OETH TREASURER 1.00 0.00 X X 0 0 0 DHARANI RAMAMOORTHY DIRECTOR 1.00 0.00 X 0 0 0 DAN CHRISTIANSON DIRECTOR 1.00 0.00 X 0 0 0 MARIE ZABEL STELLING DIRECTOR 1.00 0.00 X 0 0 0 KEVIN HIGGINS OMC CFO 1.00 40.00 X 0 607530 61953 STACEY VANDEN HEUVEL VP MARKETING & PHILANTHROPY 24.00 16.00 X 0 317228 26272 MIKE MALUGANI OFFICER 1.00 0.00 X 0 0 0 0 2965682 212672 0 0 1 0 0 236032 368601 604633 195882 195882 43179 0 43179 43179 43179 151133 54324 96809 96809 26018 14227 11791 11791 952294 0 0 347661 103534 103534 3250 3250 5388 5388 7369 7369 6443 3859 2584 2500 2500 84361 84361 107516 107516 781 781 16612 16612 MISCELLANEOUS 2490 2490 MEMBERSHIPS & DUES 2256 2256 BOOKS & PERIODICALS 731 731 MEDICAL SUPPLIES 609 609 343840 328499 15341 0 2966678 3359503 2308709 2713903 1199969 1273205 6475356 7346611 0 0 X 3765544 4156704 2709812 3189907 6475356 7346611 6475356 7346611 608454 262801 0 X X 0 1 X 1 0 X 434090 410148 473750 438646 604633 2361267 434090 410148 473750 438646 604633 2361267 60331 2300936 71917 102791 136824 155974 195882 663388 65031 61131 88150 99148 96809 410269 3434924 693360 0.66990 0.69930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4967933 386474 406447 48942 7369 5704543 4567030 176313 267499 35546 7363 4967933 4109109 259568 334051 130079 5619 4567030 4340508 205202 -321395 109598 5608 4109109 4075084 215914 198832 143592 5730 4340508 0.44080 0.37510 0.18410 1 0 0 BENEFICIAL INTEREST IN TRUST 1273205 1273205 X PART V, LINE 4: THE MAJORITY OF THE ENDOWMENT FUNDS ARE RESTRICTED IN USE TO SPECIFIC PURPOSES. THE LARGEST RESTRICTED USE FUND IS SET UP FOR FINANCIAL ASSISTANCE FOR PATIENTS WHO ARE UNINSURED, UNDERINSURED, OR FACE FINANCIAL STRESS IN OLMSTED COUNTY PART X, LINE 2: THE MEDICAL CENTER AND THE FOUNDATION ARE EXEMPT FROM FEDERAL INCOME TAXES AS TAX EXEMPT ORGANIZATIONS DESCRIBED IN SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. THERE IS NO MATERIAL UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024. THE MEDICAL CENTER AND THE FOUNDATION ARE ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES. THE MEDICAL CENTER AND THE FOUNDATION FILE FEDERAL AND STATE INCOME TAX RETURNS. GENERALLY, THE MEDICAL CENTER AND THE FOUNDATION ARE NO LONGER SUBJECT TO STATE AND FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEAR ENDED DECEMBER 31, 2021, AND PRIOR. OMC RETAIL SERVICES, LLC IS A DISREGARDED LLC UNDER INTERNAL REVENUE SERVICE REGULATIONS, AND IT ACHIEVES TAX-EXEMPT TREATMENT BASED ON THE EXEMPT STATUS OF ITS PARENT, OLMSTED MEDICAL CENTER. AT DECEMBER 31, 2025, THERE WERE NO UNCERTAIN TAX POSITIONS. GOLF OUTING 151133 0 151133 1300 7582 21513 20249 3680 151133 151133 1300 7582 21513 20249 3680 54324 96809 1 OLMSTED MEDICAL CENTER 210 9TH STREET SE ROCHESTER MN 55904 410855367 501(C)(3) 103534 0 N/A N/A GENERAL OPERATING SUPPORT 1 0 PART I, LINE 2: GRANTS AWARDED TO OLMSTED MEDICAL CENTER, WHICH HAS COMMON CONTROL, ARE DESIGNATED AS A DIRECT PAYMENT FOR DEBT RELIEF OF CHARITY CARE. OTHER GRANTS, WHICH ARE ALSO ADMINISTERED BY OLMSTED MEDICAL CENTER, ARE TRACKED AND EXPENSES ARE REPORTED BACK TO THE FOUNDATION FOR REVIEW. THE STAFF ALSO VERIFY THE PURCHASE OF EQUIPMENT THROUGH THE USE OF BUDGETARY CONTROLS, MANAGER SIGN-OFFS AND INVOICE VERIFICATIONS. 0 1 0 0 0 0 0 0 0 TIM WEIR FACHE DIRECTOR & OMC CEO 0 793154 0 193830 0 0 0 24150 0 24267 0 1035401 0 0 JAMES HOFFMANN DO DIRECTOR & OMC PRESIDENT 0 574549 0 96915 0 1000 0 24150 0 25692 0 722306 0 0 KEVIN HIGGINS OMC CFO 0 491850 0 96400 0 19280 0 24150 0 37803 0 669483 0 0 LILIA PONTON MD SECRETARY & OMC PHYSICIAN 0 380916 0 0 0 560 0 24150 0 2038 0 407664 0 0 STACEY VANDEN HEUVEL VP MARKETING & PHILANTHROPY 0 254968 0 62260 0 0 0 24150 0 2122 0 343500 0 0 PART I, LINE 3 THE COMPENSATION FOR THE CEO WAS ESTABLISHED AND PAID BY OLMSTED MEDICAL CENTER, THE SOLE MEMBER. THE FOLLOWING METHODS WERE RELIED UPON BY OLMSTED MEDICAL CENTER TO DETERMINE SUCH COMPENSATION: 1. COMPENSATION COMMITTEE, 2. INDEPENDENT COMPENSATION CONSULTANT, 3. COMPENSATION SURVEY OR STUDY, AND 4. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. IN ORDER TO ENSURE THAT ALL OLMSTED MEDICAL CENTER (OMC) EXECUTIVE COMPENSATION DECISIONS ARE COMPETITIVE, EQUITABLE, UNIFORMLY ADMINISTERED, AND CONSISTENT WITH MARKET PRACTICES, OMC FOLLOWS RECOMMENDED BEST PRACTICES. THE GOALS OF EXECUTIVE COMPENSATION ARE TO ATTRACT AND RETAIN HIGHLY QUALIFIED PERSONNEL, TO MAINTAIN COMPENSATION LEVELS COMMENSURATE WITH THE SCOPE OF RESPONSIBILITIES FOR EACH POSITION, AND TO REWARD OUTSTANDING PERFORMANCE. OMC WILL SEEK MANAGEMENT TALENT BY CONDUCTING NATIONAL SEARCHES FOR QUALIFIED APPLICANTS FOR ANY VACANCIES AT THE CHIEF MEDICAL OFFICER AND CEO POSITIONS IN ADDITION TO VICE PRESIDENT POSITIONS AS NECESSARY. THE SAME PHILOSOPHY IS APPLICABLE TO THE POSITION OF OMC PRESIDENT. OMC ENGAGES AN EXTERNAL CONSULTANT WHO ANNUALLY COMPILES A PEER GROUP COMPENSATION ANALYSIS AND ON A TWO-YEAR BASIS COMPILES A PEER GROUP COMPENSATION AND BENEFITS ANALYSIS. PEER GROUPS FOR EXECUTIVE COMPENSATION, WHICH INCLUDES BASE SALARIES, INCENTIVE AND BENEFITS, WILL BE PROVIDED FOR HEALTH DELIVERY SYSTEMS WITH A MINIMUM OF A HOSPITAL AND AN EMPLOYED PHYSICIAN NETWORK AND NET REVENUES ROUGHLY SIMILAR TO THE REVENUES OF OLMSTED MEDICAL CENTER. MOST RECENTLY A COMPENSATION AND BENEFITS PEER REVIEW STUDY WAS COMPLETED FOR THE CEO, PRESIDENT, CHIEF MEDICAL OFFICER AND VICE PRESIDENTS AND PRESENTED TO THE BOARD EXECUTIVE COMPENSATION COMMITTEE. THE EXECUTIVE COMPENSATION COMMITTEE RECEIVES A SUMMARY OF EVERYONE'S COMPENSATION TO ENSURE IT IS IN ALIGNMENT WITH THE SAME COMPENSATION METHODOLOGY AND AGREED UPON METHODOLOGY OF THE EXECUTIVE COMPENSATION SYSTEM OF OMC. THESE POSITIONS INCLUDE THE CHIEF MEDICAL OFFICER AND VICE PRESIDENTS OF OMC. THE EXECUTIVE COMPENSATION COMMITTEE WILL SET THE COMPENSATION OF THE PRESIDENT, AND CEO, AND MINUTES ARE KEPT OF THESE DISCUSSIONS. THE BOARD OF TRUSTEES, ACTING THROUGH THE BOARD OF TRUSTEES COMPENSATION COMMITTEE, MUST APPROVE THE EXECUTIVE COMPENSATION POLICY AND PROCESS OF DETERMINING EXECUTIVE COMPENSATION. IN ADDITION, THE PHYSICIAN SALARIES ARE CALCULATED ANNUALLY, USING NATIONAL PHYSICIAN SALARY COMPARISON GUIDES FACTORING IN PRODUCTIVITY AND QUALITY MEASURES, AND REVIEWED ON AN ANNUAL BASIS FOR MARKET REASONABLENESS BY AN INDEPENDANT CONSULTING FIRM. THE PHYSICIANS RECEIVE NO COMPENSATION AS ATTENDING BOARD MEMBERS. THESE DISCUSSIONS ARE NOTED IN THE MINUTES OF THE BOARD OF TRUSTEES COMPENSATION COMMITTEE ANNUAL MEETING. PART I, LINE 4B OLMSTED MEDICAL CENTER, A RELATED ORGANIZATION, HAS A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN FOR CERTAIN INDIVIDUALS IN LEADERSHIP POSITIONS. DURING 2025, THE EMPLOYEES EARNED A CONTRIBUTION TO THEIR SUPPLEMENTAL NONQUALIFIED PLAN. SAID CONTRIBUTIONS WON'T BE 100% VESTED UNTIL 2029, AT WHICH TIME EACH WILL BECOME TAXABLE TO THE EMPLOYEE. ANY ELIGIBLE EMPLOYEE WHO HAS REACHED AGE 65 AUTOMATICALLY VESTS THEIR CONTRIBUTION, AND IT IS TAXED WHEN THE CONTRIBUTION IS MADE. THE AMOUNT, NET OF TAXES, WILL REMAIN IN THE EMPLOYEE'S ACCOUNT UNTIL THEIR RETIREMENT. THE FOLLOWING AMOUNTS WERE EARNED IN 2025: TIM WEIR, FACHE - $100,792 JAMES HOFFMANN- $50,396 KEVIN HIGGINS - $45,115 STACEY VANDEN HEUVEL - $6,266 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE OFFICERS OF THE FOUNDATION AND SHALL HAVE THE AUTHORITY TO EXERCISE THE POWER OF THE BOARD TO ACHIEVE THEIR PURPOSE, SUBJECT TO LIMITATIONS THAT MAY BE IMPOSED BY THE BOARD OR BY LAW. FORM 990, PART VI, SECTION A, LINE 3 MANAGEMENT AND SUPPORT FUNCTIONS ARE DELEGATED TO OLMSTED MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION HAS ONE CLASS OF MEMBERS. THE SOLE MEMBER OF THE FOUNDATION IS OLMSTED MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS ARE ELECTED BY THE FOUNDATION DIRECTORS THEN IN OFFICE, SUBJECT TO THE APPROVAL OF OLMSTED MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 7B OLMSTED MEDICAL CENTER SHALL HAVE AUTHORITY OVER THE FOLLOWING MATTERS WITH RESPECT TO THE FOUNDATION: (1) TO APPROVE ALL AMENDMENTS TO THE ARTICLES OF INCORPORATION; (2) TO ADOPT, AMEND OR REPEAL BYLAWS ADOPTED, AMENDED OR REPEALED BY THE BOARD OF DIRECTORS; (3) TO APPROVE A PLAN OF MERGER OR CONSOLIDATION OF THE FOUNDATION; (4) TO APPROVE A PLAN OF DISSOLUTION; (5) TO APPROVE ANY AND ALL DIRECTORS OF THE FOUNDATION, AS ELECTED BY THE FOUNDATION'S BOARD OF DIRECTORS; (6) TO REMOVE ANY DIRECTOR OF THE FOUNDATION, WITH OR WITHOUT CAUSE, UPON THE RECOMMENDATION OF THE FOUNDATION'S BOARD OF DIRECTORS; AND (7) TO APPROVE THE FOUNDATION'S STRATEGIC PLAN AND ANNUAL OPERATING AND CAPITAL BUDGETS. THE FOUNDATION DIRECTOR SHALL BE ELECTED BY THE FOUNDATION BOARD, BASED ON THE RECOMMENDATION OF THE CHIEF EXECUTIVE OFFICER OF OLMSTED MEDICAL CENTER. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN EXTERNAL ACCOUNTANT. A DRAFT OF THE FORM 990 IS REVIEWED IN DETAIL BY THE OLMSTED MEDICAL CENTER FINANCIAL SERVICES MANAGER, CONTROLLER, AND CFO. ANY NECESSARY CORRECTIONS AND ADJUSTMENTS ARE MADE. THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND CFO AND PRESENTED TO THE COMPENSATION COMMITTEE. THE FINAL FORM 990 IS MADE AVAILABLE TO THE BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES OF THE FOUNDATION. ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES ("COVERED MEMBERS") OF THE CORPORATION ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT EACH PERSON HAS RECEIVED AND UNDERSTANDS THE CONFLICTS OF INTEREST POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE CORPORATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. UNLESS A PREVIOUSLY DISCLOSED AND DOCUMENTED CONFLICT OF INTEREST IS KNOWN TO THE BOARD, ALL CONFLICTS OF INTEREST ARE DISCLOSED TO THE BOARD BY THE COVERED MEMBER WITH THE CONFLICT(S) AND DOCUMENTED IN BOARD MEETING MINUTES. A COVERED MEMBER HAS DISCLOSED A CONFLICT IF HE OR SHE PROMPTLY PROVIDES A DESCRIPTION OF THE MATERIAL FACTS COMPRISING THE CONFLICT OF INTEREST TO THE BOARD. IF A COVERED MEMBER HAS A CONFLICT OF INTEREST ON ANY MATTER CONSIDERED BY THE BOARD, SUCH MATTER IS APPROVED BY THE BOARD IN A MANNER THAT COMPLIES WITH THE REQUIREMENTS OF THE SEVENTH RESTATED BYLAWS OF OLMSTED MEDICAL CENTER AND MINNESOTA STATUE SECTION 317A.255. THE COVERED MEMBER MUST ABSTAIN FROM VOTING ON THAT ISSUE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICTS OF INTEREST STATEMENTS, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE ANNUAL FORM 990 REPORT IS AVAILABLE FOR PUBLIC VIEWING BY APPOINTMENT. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. OLMSTED MEDICAL CENTER 210 9TH STREET SE ROCHESTER MN 55904 410855367 HEALTHCARE MN 501(C)(3) LINE 3 N/A 0 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0