Hrmc Foundation FY2022 filing

EIN 46-0437171 Supporting organization Huron, SD NTEE E39I
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Revenue & expenses by yearFY2020–FY2024
Revenue
$517K
FY2022▼ -17%
Expenses
$286K
FY2022▼ -17%

Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).


Raises funds annually to support and enhance healthcare services at Huron Regional Medical Center. For fiscal year 2022 it reported $517K in revenue, $286K in expenses, and $3.1M in net assets.Pt I

Type
Supporting organization · Health Care
Location
Huron, SD
Website
www.hrmcfoundation.org
Filings
5 on file (2020–2022)
Revenue
$517KFY2022
Expenses
$286K
Net assets
$3.1M
People
13
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Provided by the organization

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Size
$100K–1M
What they do
Raises funds annually to support and enhance healthcare services at Huron Regional Medical Center.
Leadership
Lisa Boomsma · Director
Money in and out
$517K revenue, $286K expenses
Bottom line
+45% net inflow

What Funders Ask

From IRS filings

Tax-deductible?

good Yes

Per the IRS master file. Details →

Can I give now?

good No revocation on IRS record

Not on the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Foundation funders?

good 2 funders, incl. South Dakota Community Foundation

$74K in the latest grant year. Details →

Spent on programs?

good 91% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

$100K–1M

↓ -17% vs prior year Details →

Money in and out · FY2022
Total revenue
$517K
Pt VIII · Ln 12
Total expenses
$286K
Pt IX · Ln 25
Net assets
$3.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $231K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.09
Net inflow
+45%
revenue over expenses, this year
Pass-through gifts
49%
of revenue from contributions
Program spending
91%
of expenses reach stated programs

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Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$3.3M
FY2022▼ -7%
Total liabilities
$188K
FY2022▲ +182%
Revenue less expensesPt I · Ln 19$231K
Total assetsPt X · Ln 16$3.3M
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 412

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CHrmc Foundation
EINHdr · item D46-0437171
Principal addressHdr · item CHuron, SD
WebsiteHdr · item Jwww.hrmcfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MSD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E39I)
Ruling yearIRS BMFOct 1995

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
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
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice-Chairma
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Hrmc Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $260K of program spending, described in the organization's own filed words · FY2022.
01

Expenditures to bring gifts of the community together to strengthen, support and enhance the huron regional medical system of care.

$260Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$253K · 49%
Investment income$134K · 26%
Program service revenue$88K · 17%
Other revenue$41K · 8%
Contributions & grants49%$253K
Investment income26%$134K
Program service revenue17%$88K
Other revenue8%$41K
Total revenueLn 12$517K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.09
Program services91%$260K
Management & general9%$26K
Total functional expensesLn 25$286K

Balance Sheet

Part X · end of year
CashLn 1$810K
Total assetsLn 16$3.3M
Total liabilitiesLn 26$188K
Total net assetsLn 32$3.1M
Months of cash on handcomputed34.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.3M · Operating expenses/yr $286K
139.5 months
Where the money goes
Program services
Program services $260K · Total expenses $286K
91%
Management & General
Management & general $26K · Total expenses $286K
9%
Fundraising
Fundraising $0 · Total expenses $286K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $288K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $253K · Total revenue $517K
49%
Government reliance
Government grants — · Total revenue $517K
—
Earned-income share
Program service revenue $88K · Total revenue $517K
17%
Investment reliance
Investment income $134K · Total revenue $517K
+26%
Program self-sufficiency
Program service revenue $88K · Total expenses $286K
31%
Growth & trend
Revenue growth (YoY)
This year $517K · Prior year $620K
-17%
Net-asset trend (YoY)
End of year $3.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $517K · Expenses $286K
+45%
Liabilities-to-Assets
Total liabilities — · Total assets $3.3M
—
Net-asset ratio
Net assets $3.1M · Total assets $3.3M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.5M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.3M
75%
People & payroll
Highest Reported Total Compensation
Individual Lisa Boomsma · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $286K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $120K · Total expenses $286K
42%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 91%——
Overhead ratio 9%——
Fundraising cost ratio 0%——
Revenue growth -17%——
Investment management fee ratio 0.07%——
Accounting fee ratio 2%——

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$74K

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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 (Latest)$588K revenue · ⤓ 990 PDF
FY2023$886K revenue · ⤓ 990 PDF
FY2022$517K revenue · viewing · ⤓ 990 PDF
FY2021$620K revenue · ⤓ 990 PDF
FY2020$608K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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