Aspirus INC EIN 39-1328331

Aspirus INC

EIN  39-1328331 Supporting organization Wausau, WI Founded 1979
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/7/26 · see original filing: IRS
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Size
$10–100M
What they do
Provides corporate support services to affiliated healthcare entities, enabling them to deliver medical care to patients regardless of their ability to pay.
Leadership
Matthew Heywood · Board Member/President & CEO Aspirus · $3.9M
Money in and out
$47.1M revenue, $323K expenses
Bottom line
+99% net inflow

Provides corporate support services to affiliated healthcare entities, enabling them to deliver medical care to patients regardless of their ability to pay. For fiscal year 2024 it reported $47.1M in revenue, $323K in expenses, and $1.3B in net assets.Pt I

Money in and out · FY2024
Total revenue
$47.1M
Pt VIII · Ln 12
Total expenses
$323K
Pt IX · Ln 25
Net assets
$1.3B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $46.8M
Where spending went · Part IX cols B–D
Program services $0.64 Management & general $0.36
Net inflow
+99%
revenue over expenses, this year▲ +5% vs prior filing year
Pass-through gifts
0%
of revenue from contributions▼ -51% vs prior filing year
Program spending
64%
of expenses reach stated programs▲ +355% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$47.1M
FY2024▲ +57%
Expenses
$323K
FY2024▼ -80%
Total assets
$1.8B
FY2024▲ +45%
Total liabilities
$501.0M
FY2024▲ +93%
Total revenue
$47.1M
Pt VIII · Ln 12
Total expenses
$323K
Pt IX · Ln 25
Net assets
$1.3B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$46.8M
Total assetsPt X · Ln 16$1.8B
Program-expense ratioPt IX · col B64%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

2 program services account for $207K of program spending, described in the organization's own filed words · FY2024.
01

To provide health care services to patients regardless of their ability to pay. Aspirus, inc. Provides care to patients who meet certain criteria under its community care policy without charge. The estimated cost of providing care under this policy aggregated to approximately $13,747,000 in fy 2025. (this cost includes aspirus, inc.

$207Kprogram expense
02

Aspirus, inc. Provides corporate functional support services to the affiliated entities in order to allow those entities to focus on their missions of providing health care services to patients regardless of their ability to pay.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAspirus INC
EINHdr · item D39-1328331
Principal addressHdr · item CWausau, WI
WebsiteHdr · item Jwww.aspirus.org
Year of formationHdr · item L1979
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E120)
Ruling yearIRS BMFMay 1979

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member/President & CEO Aspirus
$3,868,734Pt VII · Sec A
Svp-Special Projects/Former CFO
$1,470,041Pt VII · Sec A
Svp-Chief HR Officer
$879,825Pt VII · Sec A
Svp-System Chief Medical Officer
$763,486Pt VII · Sec A
Svp-Chief Strategy Officer
$745,188Pt VII · Sec A
SVP & President-Awh (former)
$732,979Pt VII · Sec A
SVP & President-Amg
$727,379Pt VII · Sec A
Svp-Chief Financial Officer
$677,240Pt VII · Sec A

Matthew Heywood’s $3.9M as Board Member/President & CEO Aspirus is at the 100th percentile of top reported officer pay among 2900 $10–100M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Matthew Heywood$3,868,734$1,618,117$1,799,938$2,684,221
Sidney Sczygelski$1,470,041$1,294,746$1,911,464$915,379
Matthew F Heywood$1,316,596$1,351,919
Michael Holzhueter$879,825$688,935$672,916$449,756
Sidney C Sczygelski$861,658$742,406
Jesse Tischer$732,979$764,397$781,575$644,385$551,417$455,557
Michael Walters$763,486$669,631
John Heisler$751,984$571,823$458,655

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Investment income$44.9M · 95%
Program service revenue$2.1M · 4%
Investment income95%$44.9M
Program service revenue4%$2.1M
Contributions & grants$118K
Other revenue$31K
— government grantsLn 1e$118K
Total revenueLn 12$47.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.64 Management & general $0.36
Program services64%$207K
Management & general36%$115K
Total functional expensesLn 25$323K

Balance Sheet

Part X · end of year
CashLn 1$319.6M
Total assetsLn 16$1.8B
Total liabilitiesLn 26$501.0M
Total net assetsLn 32$1.3B
Months of cash on handcomputed11892.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.4B · Operating expenses/yr $323K
52488.8 months
Where the money goes
Program services
Program services $207K · Total expenses $323K
64%
Management & General
Management & general $115K · Total expenses $323K
36%
Fundraising
Fundraising $0 · Total expenses $323K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $24K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $118K · Total revenue $47.1M
0%
Government reliance
Government grants $118K · Total revenue $47.1M
0%
Earned-income share
Program service revenue $2.1M · Total revenue $47.1M
4%
Investment reliance
Investment income $44.9M · Total revenue $47.1M
+95%
Program self-sufficiency
Program service revenue $2.1M · Total expenses $323K
643%
Growth & trend
Revenue growth (YoY)
This year $47.1M · Prior year $30.1M
+57%
Revenue CAGR
FY2019 $8.3M · FY2024 $47.1M
+41%
Net-asset trend (YoY)
End of year $1.3B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $47.1M · Expenses $323K
+99%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8B
Net-asset ratio
Net assets $1.3B · Total assets $1.8B
73%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.1B · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.8B
59%
People & payroll
Highest Reported Total Compensation
Individual Matthew Heywood · Reported title BOARD MEMBER/PRESIDENT & CEO ASPIRUS · Highest reported compensation $3.9M · Total expenses $323K
×13
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $323K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 64%
Overhead ratio 36%
Revenue growth 57%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$150K
Grants paid · 20 grants · $903K · 2019–2024
Unitemized GrantFY2024$72,254
Unitemized GrantFY2023$72,563
Unitemized GrantFY2022$74,747
Unitemized GrantFY2021$70,142
Unitemized GrantFY2020$69,211
Aspirus Medical Group INCWI · FY2020$10,000
Centergy INCWI · FY2020$5,000
See all 20 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$30.1M revenue · ⤓ 990 PDF
FY2023$24.2M revenue · ⤓ 990 PDF
FY2022$7.6M revenue · ⤓ 990 PDF
FY2021$16.9M revenue · ⤓ 990 PDF
FY2020$8.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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