NonprofitsCovenant Medical Center Inc

Health Care

Covenant Medical Center Inc

WATERLOO, IA

Total revenue

$401.6M

Total expenses

$375.2M

Net assets

$182.4M

Grants received

$7.4M

14 grants

EIN

421264647

Tax year

2023

Mission

To provide health care and hospital services

Financials

FY 2023

Revenue

Contributions & grants$1.1M
Program service revenue$393.8M
Investment income$1.2M
Other revenue$5.5M
Total revenue$401.6M

Expenses

Grants paid$246K
Salaries & benefits$191.5M
Fundraising
Other expenses$183.4M
Total expenses$375.2M
Total assets$245.0M
Net assets$182.4M

People

19 listed

NameRoleCompensation

RACHELLE MAKINDE MD

DIRECTOR; PHYSICIAN

Board

$464K

47 hrs/wk

BRIAN BURNETT MD

DIRECTOR; PHYSICIAN

Board

$394K

47 hrs/wk

TIMOTHY HUBER

ASSISTANT TREASURER; VP OF FINANCE

Board

$313K

40 hrs/wk

RYAN MEYER

COO

Board

$126K

40 hrs/wk

NANCY SCHAEFER

ASSISTANT SECRETARY; EXEC ASSISTANT

Board

$68K

37 hrs/wk

ALAN KRUGER

DIRECTOR

Board

1 hrs/wk

MICHAEL WEGNER

DIR 8-12/23; PRES MERCY IA THR 12/23

Board

1 hrs/wk

CAROL TOUSLEY

DIRECTOR

Board

1 hrs/wk

DAVID DEAVER

DIRECTOR; CHAIR

Board

1 hrs/wk

SANDRA BENAK

DIRECTOR

Board

1 hrs/wk

TIMOTHY BOETTGER

DIRECTOR

Board

1 hrs/wk

AHSAN MAQSOOD MD

PHYSICIAN - CARDIOLOGY

Staff

$1.7M

50 hrs/wk

RICHARD NAYLOR DO

PHYSICIAN - ORTHOPEDICS

Staff

$1.6M

50 hrs/wk

VICTOR MUJICA MD

PHYSICIAN - GASTROENTEROLOGY

Staff

$1.3M

50 hrs/wk

JASON STANFORD DO

PHYSICIAN - ORTHOPEDICS

Staff

$1.2M

50 hrs/wk

GARY KNUDSON MD

PHYSICIAN - ORTHOPEDICS

Staff

$1.1M

50 hrs/wk

JACK DUSENBERY

FORMER OFFICER

Staff

$764K

0

MATTHEW SOJKA MD

VP, MEDICAL AFFAIRS

Staff

$502K

40 hrs/wk

KELLY RICHARDS

CHIEF NURSING OFFICER

Staff

$337K

40 hrs/wk

Independent contractors

HALLMARK HEALTHCARE SOLUTIONS

STAFFING SERVICES

$2.8M

HEALTH CAROUSEL LLC

STAFFING SERVICES

$2.1M

HAYES LOCUMS LLC

STAFFING SERVICES

$1.4M

IOWA EMERGENCY PHYSICIANS LLP

STAFFING SERVICES

$1.4M

LUCIDSOLUTIONS INC

HEALTH SERVICES

$1.3M

Grants received

Showing 14 of 14

FromAmountPurposeYear
$11K
PROGRAM SUPPORT
2024
$973K
PURCHASE EQUIPMENT
2023
$31K
STROKE EDUCATION & AWARENESS
2023
$11K
PROGRAM SUPPORT
2023
$292K
PURCHASE EQUIPMENT
2022
$31K
STROKE EDUCATION & AWARENESS
2022
$12K
PROGRAM SUPPORT
2022
$711K
Purchase equipment; Jumpstart Program; Colleague training; Reach out and read
2021
$1.6M
Purchase equipment; COVID19 support; Colleague training; Reach out and read
2020
$12K
GRANT FOR SPECIFIC PROGRAM SUPPORT.
2020
$735K
Purchase equipment; ICU training and equipment, COVID19 support.
2019
$12K
GRANT FOR SPECIFIC PROGRAM SUPPORT.
2018
$11K
GRANT FOR SPECIFIC PROGRAM SUPPORT.
2018
$3.0M
Purchase equipment; Cancer Treatment Center,Pediatric, Podiatry, Cath Lab and Independence Clinic location renovations.
2017

Funded by

$7.4M from 3 funders · 14 grants · 2017–2024

Covenant Foundation Inc

$7.3M · 6 grants · 2017–2023

Cedar Valley United Way

$70K · 6 grants · 2018–2024

American Heart Association Inc

$62K · 2 grants · 2022–2023

Details

EIN421264647
NTEE codeE220
Subsection03
Ruling date1946-03
Formed1985
Employees2704
Volunteers91
COVENANT MEDICAL CENTER INC — Mission, Financials & Grants Received | Grantivo