Gundersen Clinic Ltd: Nonprofit Profile, Financials & Form 990 (EIN 39-1028657)

Revenue by fiscal year
FY2020	$159.2M
FY2021	$170.1M
FY2022	$202.2M
FY2024	$244.3M
FY2024	$277.2M

Expenses by fiscal year
FY2020	$269.9M
FY2021	$229.1M
FY2022	$271.7M
FY2024	$327.5M
FY2024	$384.5M

Net assets by fiscal year
FY2020	−$542.8M
FY2021	−$602.1M
FY2022	−$672.3M
FY2024	−$822.5M
FY2024	−$922.3M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Part of a larger organization · Schedule R

Gundersen Clinic Ltd files its own Form 990, but Schedule R discloses 25 related entities — figures on this page are for this EIN only, not the whole group. Large hospital and education systems often split assets and fundraising across related entities; read Schedule R before comparing to a single-site charity.

Oconto Hospital & Medical Center INC · Tri-County Memorial Foundation INC · Tri-County Memorial Hospital INC · Gundersen Lutheran Medical Center INC + 21 more · see all

Combined filings · FY2024 · 25 entities with data

Simple sum of each entity's Form 990 headline figures — not audited consolidated financials. This page's EIN is 6% of group revenue.

Group revenue

$4.6B

Group expenses

$4.5B

Group net assets

$2.5B

Oconto Hospital & Medical Center INC · $101.5M rev · $35.2M net assets

Tri-County Memorial Foundation INC · $108K rev · $1.1M net assets

Tri-County Memorial Hospital INC · $45.1M rev · $23.5M net assets

Gundersen Lutheran Medical Center INC · $1.7B rev · $2.2B net assets

Memorial Hospital of Boscobel · $38.7M rev · $41.8M net assets

Bellin Memorial Hospital INC · $906.6M rev · $762.7M net assets

Where the money goes

92 cents of each dollar spent went to programs.

92%

Program services 92% · $354.1M Management & general 8% · $30.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation

Ezana Azene MD

Medical Governors, Secretary/Treasurer, MD

$0Pt VII · Sec A

Jennifer Kleven MD

Medical Governors, Chairman

$0Pt VII · Sec A

Benjamin Jarman MD

Medical Governors, MD, (end 9.30.25)

$0Pt VII · Sec A

Benjamin Orozco MD

Medical Governors, MD

$0Pt VII · Sec A

Christopher Eberlein MD

Medical Governors, MD

$0Pt VII · Sec A

David Gerhard MD

Medical Governors, MD

$0Pt VII · Sec A

Elizabeth Cogbill MD

Medical Governors, MD

$0Pt VII · Sec A

Paul Bergl

Medical Governors, MD, (end 4.30.25)

$0Pt VII · Sec A

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides healthcare services to patients in the Midwest.

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Provided by the organization

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1 program · $354.1M · in their own filed words · FY2024

01

Gundersen clinic, LTD. (the clinic) has 700 physicians representing nearly every specialty serving a 21 county region in western wisconsin, northeastern iowa and southeastern minnesota. The clinic provides medical care to all patients regardless of their ability to pay.

$354.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Gundersen Lutheran Medical Foundation INCFY2024$695K

Great Lakes Hemophilia Foundation INCFY2024$21K

Mayo Clinic Group ReturnFY2024$6K

Total grants receivedfrom 3 funders$722K

See all 3 funders →

Grants paid · 6 grants · $7.5M · 2020–2024

Gundersen Lutheran Medical Foundation INCWI · FY2024$1,304,551

Gundersen Lutheran Medical Foundation INCWI · FY2023$1,309,464

Gundersen Lutheran Medical Foundation INCWI · FY2023$979,407

Gundersen Lutheran Medical Foundation INCWI · FY2022$1,305,876

Gundersen Lutheran Medical Foundation INCWI · FY2021$1,305,876

Gundersen Lutheran Medical Foundation INCWI · FY2020$1,305,876

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$277.2M

Ln 12

Fees for servicesLn 2g$275.4M

Gifts and grantsLn 1h$1.2M

Other incomeLn 4–11$393K

Money outPt IX

$384.5M

Ln 25

Programscol B$354.1M

Managementcol C$30.5M

Owns and owesPt X

−$922.3M

net assets · Ln 32

Cash and savingsLn 1–2$346K

Total assetsLn 16$337.7M

LiabilitiesLn 26$1.3B

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a7

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.2M

Government grantsLn 1e$402K

Fees for servicesLn 2g$275.4M

Investment incomeLn 3$257K

Other incomeLn 4–11$393K

Gains on assetsLn 7−$12

Total revenueLn 12$277.2M

Assets in detailPt X, end of year

CashLn 1$346K

Cash and savings togetherLn 1–2$346K

InvestmentsLn 11–13$7.3M

Land, buildings, equipmentLn 10c$166.2M

Other assetsLn 15$5.1M

Total assetsLn 16$337.7M

LiabilitiesLn 26$1.3B

Net assetsLn 32−$922.3M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$103K	$346K
InvestmentsLn 11–13	$9.0M	$7.3M
Land, buildings, equipmentLn 10c	$170.0M	$166.2M
Total assetsLn 16	$220.1M	$337.7M
LiabilitiesLn 26	$1.04B	$1.26B
Net assetsLn 32	−$822.5M	−$922.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$1.3M	$1.3M
Grants to domestic individualsLn 2	$2.4M	$2.4M
Management feesLn 11a	$145.2M	$140.1M	$5.1M
Legal feesLn 11b	$22K	$22K
Lobbying feesLn 11d	$33K	$33K
Investment management feesLn 11f	$7K		$7K
Other fees for servicesLn 11g	$12.8M	$12.4M	$401K	$0
Advertising and promotionLn 12	$12K	$10K	$2K
Office expensesLn 13	$1.4M	$1.3M	$49K
Information technologyLn 14	$644K	$633K	$11K
OccupancyLn 16	$5.5M	$2.9M	$2.6M
TravelLn 17	$757K	$741K	$16K
Conferences, conventions and meetingsLn 19	$31K	$28K	$3K
Depreciation, depletion and amortizationLn 22	$11.2M	$6.2M	$5.0M
InsuranceLn 23	$758K	$86K	$671K
Other expenses (24a–d)Ln 24	$202.5M	$185.8M	$16.7M
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$384.5M	$354.1M	$30.5M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$244.3M	$327.5M	−$83.2M	−$822.5M	990 PDF
FY2023	Not on file
FY2022	$202.2M	$271.7M	−$69.5M	−$672.3M	990 PDF
FY2021	$170.1M	$229.1M	−$59.0M	−$602.1M	990 PDF
FY2020	$159.2M	$269.9M	−$110.7M	−$542.8M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $277,202,108 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,187,295$1,191,713

I-9 Program service revenuePrior year $242,398,618$275,360,595

I-10 Investment incomePrior year $323,956$256,668

I-11 Other revenuePrior year $392,699$393,132

I-12 Total revenuePrior year $244,302,568$277,202,108

I-13 Grants and similar amounts paidPrior year $3,592,147$3,698,019

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $323,887,609$380,841,321

I-18 Total expensesPrior year $327,479,756$384,539,340

I-19 Revenue less expensesPrior year −$83,177,188−$107,337,232

Part VI · Governance 0 of 7 board members independent, 1 to look at

VI-1a Voting members of the governing body7

VI-1b Independent voting members0

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $277,202,108 across 9 lines filed

VIII-1d Related organizations$695,229

VIII-1e Government grants$402,162

VIII-1f All other contributions, gifts and grants$94,322

VIII-1h Total contributions, gifts and grants$1,191,713

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $269,334,804 · Unrelated business $6,025,791$275,360,595

VIII-3 Investment incomeExcluded from tax $256,680$256,680

VIII-6 Net rental income or lossExcluded from tax $393,132$393,132

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$12−$12

VIII-12 Total revenueRelated to mission $269,334,804 · Unrelated business $6,025,791 · Excluded from tax $649,800$277,202,108

Part IX · Statement of functional expenses $384,539,340 across 17 lines filed

IX-1 Grants to domestic organizationsPrograms $1,320,292$1,320,292

IX-2 Grants to domestic individualsPrograms $2,377,727$2,377,727

IX-11a Management feesPrograms $140,133,350 · Management $5,088,400$145,221,750

IX-11b Legal feesPrograms $22,350$22,350

IX-11d Lobbying feesPrograms $32,975$32,975

IX-11f Investment management feesManagement $6,600$6,600

IX-11g Other fees for servicesPrograms $12,414,052 · Management $401,087 · Fundraising $0$12,815,139

IX-12 Advertising and promotionPrograms $10,169 · Management $1,777$11,946

IX-13 Office expensesPrograms $1,318,930 · Management $49,317$1,368,247

IX-14 Information technologyPrograms $632,792 · Management $10,768$643,560

IX-16 OccupancyPrograms $2,901,563 · Management $2,604,819$5,506,382

IX-17 TravelPrograms $741,422 · Management $15,505$756,927

IX-19 Conferences, conventions and meetingsPrograms $28,275 · Management $3,205$31,480

IX-22 Depreciation, depletion and amortizationPrograms $6,235,922 · Management $4,950,051$11,185,973

IX-23 InsurancePrograms $86,420 · Management $671,298$757,718

IX-24 Other expenses (24a–d)Programs $185,803,731 · Management $16,676,543$202,480,274

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $354,059,970 · Management $30,479,370 · Fundraising $0$384,539,340

Part X · Balance sheet $337,663,034 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $102,658$345,786

X-4 Accounts receivableStart of year $20,036,711$138,436,079

X-8 Inventories for sale or useStart of year $12,565,031$17,582,633

X-9 Prepaid expenses and deferred chargesStart of year $252,498$366,793

X-10c Land, buildings and equipment, netStart of year $170,044,765$166,177,840

X-11 Publicly traded securitiesStart of year $8,964,680$7,260,985

X-14 Intangible assetsStart of year $2,218,422$2,433,943

X-15 Other assetsStart of year $5,903,813$5,058,975

X-16 Total assetsStart of year $220,088,578$337,663,034

X-17 Accounts payable and accrued expensesStart of year $3,249,971$3,178,856

X-25 Other liabilitiesStart of year $1,039,382,523$1,256,736,326

X-26 Total liabilitiesStart of year $1,042,632,494$1,259,915,182

X-27 Net assets without donor restrictionsStart of year −$822,543,916−$922,252,148

X-32 Total net assets or fund balancesStart of year −$822,543,916−$922,252,148

X-33 Total liabilities and net assetsStart of year $220,088,578$337,663,034

Part XI · Reconciliation of net assets −$922,252,148 net assets at year end

XI-1 Total revenue$277,202,108

XI-2 Total expenses$384,539,340

XI-3 Revenue less expenses−$107,337,232

XI-4 Net assets at start of year−$822,543,916

XI-5 Net unrealized gains (losses) on investments$129,000

XI-9 Other changes in net assets$7,500,000

XI-10 Net assets at end of year−$922,252,148

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Gundersen Clinic Ltd

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Gundersen Clinic Ltd

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV