Nonprofit · EIN 42-0680391
MHIC
Tax-exempt · IOWA CITY, IA 52245
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $11,270,597 | $4,866,854 | $6,403,743 | $10,346,344 | $81,109,587 | -$70,763,243 |
| June 30, 2024 | 990 | $19,700,122 | $124,602,433 | -$104,902,311 | $43,990,746 | $108,425,111 | -$64,434,365 |
| June 30, 2023 | 990 | $164,462,075 | $193,174,817 | -$28,712,742 | $160,030,077 | $136,653,461 | $23,376,616 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,528,937
- Investment income
- $63,395
- Other revenue
- $7,678,265
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $274,481
- Management and general (functional)
- $4,866,854
Balance sheet and other
- Total assets, start of year
- $43,990,746
- Total assets, end of year
- $10,346,344
- Total liabilities, end of year
- $81,109,587
- Net assets, end of year
- -$70,763,243
- Land, buildings and equipment
- $27,756
- Publicly traded securities
- $1,225,000
- Net assets without donor restrictions
- -$70,763,243
- Gross receipts
- $11,270,597
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1873
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAN CHILDERS | PRESIDENT/SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 |
| MARC ROSS | FINANCIAL ADVISOR TO MHLT Officer | 1 | $0 |
990 for the year ended June 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Michael Hoffman | Physician Highest-paid employee | 40 | $572,630 | $45,557 |
| Ali Mohammed | Physician Highest-paid employee | 40 | $483,494 | $23,246 |
| Luke Brunkhorst | Physician Highest-paid employee | 40 | $457,373 | $36,413 |
| Spas Kotev | Physician Highest-paid employee | 40 | $474,011 | $18,961 |
| Katherine Ignacio | Physician Highest-paid employee | 40 | $464,006 | $28,706 |
| Tom Clancy | CEO & Adminnistrator Trustee or director, Officer | 40 | $315,704 | $5,317 |
| Kim Volk | VP - Nursing Trustee or director, Officer | 40 | $246,879 | $34,341 |
| Dawna Miller | Former Officer (End 7/22) Former | 0 | $122,216 | $0 |
| Jim Porter | Treasurer Trustee or director, Officer | 41 | $0 | $0 |
| Lynn Whisler | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Madeline Windauer | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Dr Chris Scott | Board Member (End 1/24) Trustee or director | 1 | $0 | $0 |
| Mary Westbrook | Board Member (End 1/24) Trustee or director | 1 | $0 | $0 |
| Peter Gardner | Board Member (End 1/24) Trustee or director | 1 | $0 | $0 |
| SR Helen Marie Burns | Board Member (End 1/24) Trustee or director | 1 | $0 | $0 |
| SR Linda Bechen | Board Member Trustee or director | 1 | $0 | $0 |
| SR Rita Specht | Board Member (End 1/24) Trustee or director | 1 | $0 | $0 |
| Steven Anderson | Board Member Trustee or director | 1 | $0 | $0 |
| Mark Toney | Chief Restructuring Officer Officer | 40 | $0 | $0 |
| Mike Trachta | Former Officer (End 03/23) Former | 0 | $0 | $0 |
| Jeffrey Rooney | Former Officer (End 04/23) Former | 0 | $0 | $0 |
990 for the year ended June 30, 2023: 29 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Andrew Ashby | Physician Highest-paid employee | 40 | $538,134 | $36,461 |
| Craig Huston | Physician Highest-paid employee | 40 | $533,131 | $41,185 |
| Michael Hoffman | Physician Highest-paid employee | 40 | $498,496 | $40,061 |
| Luke Brunkhorst | Physician Highest-paid employee | 40 | $502,463 | $32,353 |
| Steven Udelhofen | Physician Highest-paid employee | 40 | $453,981 | $13,306 |
| Dawna Miller | Treasurer (End 7/22) Trustee or director, Officer | 40 | $366,748 | $32,802 |
| Kim Volk | VP - Nursing Trustee or director, Officer | 40 | $251,722 | $25,884 |
| Scott Alderman | VP - Information and Tech(End 12/22) Trustee or director, Officer | 40 | $249,028 | $13,207 |
| Martin Izakovic | Former VP/Physician Former | 40 | $211,649 | $20,984 |
| Kimberley Rossiter | Assistant Treasurer (End 8/22) Officer | 40 | $208,788 | $21,185 |
| Stuart Elkin | Assistant Treasurer (Beg 9/22) Officer | 40 | $170,462 | $5,733 |
| Jeffrey Rooney | Treasurer (8/22-4/23) Trustee or director, Officer | 40 | $0 | $0 |
| Jim Porter | Treasurer (Beg 5/23) Trustee or director, Officer | 40 | $0 | $0 |
| Lynn Whisler | Board Member(End 3/23)/Sec(Beg 4/23) Trustee or director, Officer | 1 | $0 | $0 |
| Madeline Windauer | Vice Chair (Beg 10/22) Trustee or director, Officer | 1 | $0 | $0 |
| Mike Trachta | CEO & Administrator (End 3/23) Trustee or director, Officer | 40 | $0 | $0 |
| Tom Clancy | Chair/Sec (End 3/23)/CEO (Beg 4/23) Trustee or director, Officer | 1 | $0 | $0 |
| Tom McLaughlin | Chair (End 10/22) Trustee or director, Officer | 1 | $0 | $0 |
| Bob Ritz | Board Member (End 3/23) Trustee or director | 1 | $0 | $0 |
| Dave Vellinga | Board Member (End 3/23) Trustee or director | 1 | $0 | $0 |
| Dr Chris Scott | Board Member Trustee or director | 1 | $0 | $0 |
| Karin Franklin | Board Member (End 10/22) Trustee or director | 1 | $0 | $0 |
| Jack Dusenbery | Board Member (End 10/22) Trustee or director | 1 | $0 | $0 |
| Mary Westbrook | Board Member Trustee or director | 1 | $0 | $0 |
| Peter Gardner | Board Member Trustee or director | 1 | $0 | $0 |
| SR Helen Marie Burns | Board Member Trustee or director | 1 | $0 | $0 |
| SR Linda Bechen | Board Member Trustee or director | 1 | $0 | $0 |
| SR Rita Specht | Board Member Trustee or director | 1 | $0 | $0 |
| Steven Anderson | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 500 E MARKET ST, IOWA CITY, IA 52245-2633
- In care of
- % PAYROLL
- Principal officer (990 for 2024)
- DAN CHILDERS, C/O SHUTTLEWORTH INGERSOLL PLC 235, 6TH STREET SE, CEDAR RAPIDS, IA 52401
- Signed the 990
- MARC ROSS, LIQUIDATING TRUSTEE ADVISOR
- Phone
- (319) 339-0300
- Website
- WWW.MERCYIOWACITY.ORG
- Return prepared by
- DELOITTE TAX LLP
Mission
PRIOR TO CLOSURE, MHIC HEALED AND COMFORTED THE SICK AND WORKED TO IMPROVE THE HEALTH OF THE COMMUNITY IN THE SPIRIT OF JESUS CHRIST AND THE CATHOLIC TRADITION OF THE SISTERS OF MERCY.
Program accomplishments
- HOSPITAL SERVICES. IN KEEPING WITH OUR MISSION OF HEALING AND COMFORTING THE SICK, PROVIDING HOSPITAL MEDICAL SERVICES IS AT THE HEART OF WHAT WE DO. THESE SERVICES ARE PROVIDED IN INPATIENT AND OUTPATIENT SETTINGS, IN SITUATIONS THAT MAY BE EMERGENT, ACUTE OR CHRONIC. SERVICES INCLUDE A 24 HOUR EMERGENCY UNIT, INTENSIVE AND CARDIOVASCULAR CARE. WE ALSO SERVICE A MATERNITY UNIT AND NEWBORN NURSERY ALONG WITH OTHER SURGICAL SERVICES, CARDIAC CATH LAB, CANCER CARE, DIGESTIVE CARE, TELEMETRY MONITORED CARE, MEDICAL CARE, STROKE CARE. EFFECTIVE JANUARY 31, 2024, MHIC CEASED PROVIDING HEALTHCARE SERVICES TO THE COMMUNITY AS A RESULT OF FILING FOR BANKRUPTCY AND THE ORGANIZATION'S ASSETS BEING ACQUIRED BY THE UNIVERSITY OF IOWA.revenue $3,990,918
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 42-0680391
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Hospital or medical research organization
- Exempt since
- 1946
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E220)
- Group exemption
- 0928: UNITED STATES CATHOLIC CONFERENCE
- Assets (IRS master file)
- $10,346,344
- Income (IRS master file)
- $11,270,597
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $11,270,597 | $4,866,854 | $10,346,344 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $19,700,122 | $124,602,433 | $43,990,746 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $164,462,075 | $193,174,817 | $160,030,077 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $177,018,605 | $193,835,584 | $209,423,313 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-0680391).
Questions about MHIC
- What is the EIN of MHIC?
- The employer identification number (EIN) of MHIC is 42-0680391.
- Is MHIC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1946.
- Which annual return does MHIC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MHIC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MHIC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MHIC?
- The 990 for the year ended June 30, 2025 names DAN CHILDERS.
- Who are the officers and directors of MHIC?
- The 990 for the year ended June 30, 2025 lists 2 people; 0 received compensation from the organization.
- How much revenue does MHIC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $11,270,597, expenses of $4,866,854 and total assets of $10,346,344 at year end.
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