2025-05-15T07:38:21-05:00 2024-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2023-07-01 201487506 Monument Health Inc MONU 6057559130 PO Box 6000 Rapid City SD 577096000 Austin Willuweit CFO 6057559130 2025-05-14 1 1 Kim Hunwardsen CPA P00484560 6122536500 2025-05-14 2023 2025-03-06 01:10:19Z Paulette Davidson PO Box 6000 Rapid City SD 577096000 2502847 0 X https://monument.health/ X 2003 SD Monument Health is dedicated to improving the health of individuals and our communities. 13 10 2 9 0 0 0 0 2086512 2502847 0 0 0 0 2086512 2502847 0 0 0 0 1969317 2212251 0 0 0 271710 442130 2241027 2654381 -154515 -151534 181 148 472519 624020 -472338 -623872 Our vision at Monument Health is to be one team, to listen, to be inclusive, and to show we care. Monument Health is dedicated to improving the health of individuals and our communities. 0 0 2654381 2502847 Monument Health's Board of Directors provides planning and decision making for its supported organizations, Monument Health Rapid City Hospital, Inc., and Monument Health Network, Inc. to best assure services are coordinated among the supported organizations and that all supported organizations are contributing to the achievement of a shared mission. Monument Health's executive administration provides management and other support services to the entire health system. 2654381 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 X 0 0 2 1 0 0 0 0 0 0 0 0 0 0 1 0 X 13 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Austin Willuweit 6057559127 PO Box 6000 Rapid City SD 577096000 Paulette Davidson President and CEO 0.12 59.88 X X 1727313 0 253482 Charles Voigt MD Director; Contingent Physician 0.48 0.00 X 0 12688 0 Lewis Trowbridge Director 1.12 0.00 X 0 30000 0 Donald Warne MD Director 0.38 0.00 X 0 30000 0 Glenn Fosdick Director 0.81 0.00 X 0 15000 0 Paula Santrach MD Director 0.38 0.00 X 0 3750 0 Pat Burchill Chairman 1.33 0.00 X X 0 0 0 Rick Tysdal Director 0.62 0.00 X 0 0 0 Dusty Petersen Director 0.69 1.04 X 0 0 0 Dave Emery Vice Chair 1.21 0.00 X X 0 0 0 Robert Haivala Director 0.48 0.00 X 0 0 0 Donald Habbe Director 0.48 0.00 X 0 0 0 Deidre Budahl Director 1.02 0.00 X 0 0 0 Mark A Thompson CFO/CBDO From 01/2024 0.11 54.89 X 0 868581 49983 Austin Willuweit VP Finance/CFO From 01/2024 0.11 54.89 X 0 340040 60239 Patrick Woodard Chief Healthcare Information Officer 0.11 54.89 X 0 565975 65925 Brad Archer MD Chief Medical Officer 0.11 54.89 X 0 876666 124753 Barbara Hespen President Custer Market/System CNO 0.11 54.89 X 0 276143 52663 Nicole Kerkenbush Former CNPO/Performance Officer 0.11 54.89 X 0 203850 17642 1727313 3222693 624687 1 1 1 0 0 Management Fees 561000 2502847 2502847 2502847 2502847 2502847 0 0 2029508 2029508 73744 73744 67333 67333 41666 41666 104250 104250 26041 26041 25757 25757 59387 59387 4275 4275 Miscellaneous 151531 151531 Interco. Charges 67512 67512 Medical supplies 3377 3377 2654381 2654381 0 0 X 181 148 181 148 142122 160579 330397 463441 472519 624020 X -472338 -623872 -472338 -623872 181 148 -151534 0 X 0 1 X 1 1 1 X X X 2 Monument Health Rapid City Hospital Inc 460319070 3 1 2166692 0 Monument Health Network Inc 460360899 3 1 487688 0 2 2654380 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 Part IV, Section A, Line 1: The Corporations' activities shall be in furtherance of the purposes set forth in Section 509(a)(3)(A) of the Code; that is, the Corporation is organized and at all times shall be operated exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of Monument Health Rapid City Hospital, Inc., and Monument Health Network, Inc. (collectively, the Publicly Supported Organizations), so long as the Publicly Supported Organizations are exempt from federal income taxation under Section 501(a) or Section 509(a)(2) of the Code. Part IV, Section D, Line 3 MHI and its supported organizations use "System" Committees which require that at least one Board member of MHI and each of its supported organizations be a member of the System Committee. During FY24 a board member of MHI and each of its supported organizations served on the System Finance and Investment Committee. The overlapping membership on the corporate boards and the use of System Committees give the supported organizations a significant voice in decision-making. Part IV, Section E, Line 3a MHI and its supported organizations use a system governance committee whose membership consists of the chair and vice chair of MHI and the chair and vice chair of each of the boards of its supported organizations. The governance committee annually evaluates the performance of the MHI board and the boards of its supported organizations and makes recommendations to the MHI board of directors for the appointment or reappointments of members of both the MHI board and the boards of its supported organizations as the terms of their respective members expire or become vacant. The MHI board then makes the final selection, typically accepting the recommendation of the governance committee. Part IV, Section E, Line 3b The MHI board, as the sole member of each of its supported organizations, exercises a substantial degree of direction over the policies, programs and activities of each supported organization through reserved powers stated in the articles of incorporation of each supported organization. The reserve powers include approval of amendments to the articles of incorporation, bylaws, mission, vision and values of the supported organizations; appointment of the members of the boards of the supported organizations; selection of the independent auditor of all the related organizations; approval of the capital and operating budgets of the supported organizations; provision of all treasury functions; authority to establish plans, processes and policies related to business strategy, corporate compliance, human resources, performance improvement, customer satisfaction, risk management and safety; and authority to approve expenditures over certain monetary thresholds as well as the incurrence of debt or entry into affiliations, joint ventures and mergers. 0 Intercompany payable 463441 463441 X Part X, Line 2: References to "Monument Health" apply to all entities controlled by Monument Health, Inc. and its subsidiaries. This includes the reporting entity. Monument Health believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. Monument Health would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. X 1 1 X X X X 0 1 0 0 0 0 0 1 0 Paulette Davidson President and CEO 1158268 0 369600 0 199445 0 224622 0 28860 0 1980795 0 176555 0 Brad Archer MD Chief Medical Officer 0 643589 0 148000 0 85077 0 98862 0 25891 0 1001419 0 71687 Mark A Thompson CFO/CBDO From 01/2024 0 593215 0 116600 0 158766 0 25504 0 24478 0 918563 0 150096 Patrick Woodard Chief Healthcare Information Officer 0 426049 0 65528 0 74398 0 57376 0 8549 0 631900 0 0 Austin Willuweit VP Finance/CFO From 01/2024 0 264550 0 50700 0 24790 0 27071 0 33168 0 400279 0 10653 Barbara Hespen President Custer Market/System CNO 0 222768 0 37700 0 15675 0 23781 0 28881 0 328805 0 0 Nicole Kerkenbush Former CNPO/Performance Officer 0 169529 0 0 0 34321 0 15612 0 2030 0 221492 0 27979 Part I, Line 1a Country club dues are paid in the name of the CEO, however the benefit is shared with other executives and is used for business purposes. Part I, Line 4b Monument Health provides a supplemental nonqualified retirement plan and a flexible benefit plan that can include deferred compensation for its executives. The following individuals had amounts deferred into the account as reported in column C on Schedule J: Paulette Davidson $209,620 Brad Archer, MD $84,592 Patrick Woodard $44,176 Austin Willuweit $13,920 Nicole Kerkenbush $6,342 Barbara Hespen $15,471 The following individuals had supplemental non-qualified retirement plan amounts included in schedule J, column B(iii) that were previously reported as deferred compensation on Form 990. These amounts are identified in Schedule J, column f. Paulette Davidson $176,555 Brad Archer, MD $71,687 Mark Thompson $150,096 Austin Willuweit $10,653 Nicole Kerkenbush $27,979 Part I, Line 7 Executives and other employees of system entities will be eligible to receive annual incentive awards that are competitive with the incentives offered by the organizations in the system's peer group(s) in accordance with the terms of the Monument Health, Inc. annual incentive plan for selected executives and other employees (incentive plan). In accordance with this plan, the board's executive committee reviews and approves all incentive compensation performance measures and all awards, if any. The committee ensures that the total compensation, including incentive awards, is reasonable. Form 990, Part V, Line 1a: All 1099's are issued centrally by Monument Health Rapid City Hospital,Inc., a related organization. Form 990, Part V, Line 2a: Number of employees on W-3: Monument Health, Inc., has its own employees, however, compensation is paid by Monument Health Rapid City Hospital, the common payroll agent. Form 990, Part VI, Section A, line 1a The Executive Committee of the Corporation shall consist of at least the following: Chair of the Board of Directors, Vice Chair, if any, and Chief Executive Officer. Two additional independent Directors (or, in the absence of an elected Vice Chair, three additional independent Directors) may be appointed to the Committee by the Chair. For purposes of this Committee's membership, "independent" shall mean a Board member who is 1) not an employee of any System entity; 2) is not a family member of any management employee (Director level or above) of any System entity; 3) is not a practicing physician within the geographical area served by the System; and 4) does not have financial or conflicting interests in matters that routinely fall within the Committee's duties. The Chair of the Board of Directors shall serve as Chair of the Executive Committee. Directors on the Executive Committee shall serve during the term of office they hold which places them on the Executive Committee, or, for the Chair-appointed members, for a term of one (1) year or until their successors are appointed. The Executive Committee, when the Board of Directors is not in session, shall have and may exercise all of the final authority of the Board of Directors except to the extent, if any, that such authority shall be limited by a motion or resolution of the Board of Directors and except also that the Executive Committee shall not have the authority of the Board of Directors to: amend the Articles of Incorporation or Bylaws of the Corporation, adopt a plan of merger, consolidation, or affiliation for this Corporation or any Affiliate, sell, lease or otherwise dispose of all or substantially all of the property and assets of the Corporation or any Affiliate; or voluntarily dissolve the Corporation or revoke the same. Additionally, the Executive Committee oversees and makes recommendations to the Board on aspects of executive compensation and has the delegated authority of the Board to engage compensation consultants; approve compensation and benefits of Committee designated executives including the Chief Executive Officer; and determine fair market value ranges and/or reasonable compensation for transactions involving Directors on a System Board or other persons/entities that are potentially disqualified persons. Form 990, Part VI, Section A, line 2 Paulette Davidson has a business relationship with the following individuals due to being the CEO of the supporting organization that exercises reserve powers over the supported organizations that employ each of these key employees: Brad Archer, MD; Nicole Kerkenbush; Mark Thompson; Patrick Woodard; Austin Willuweit; Barbara Hespen, and employed Board Members Donald Warne, MD and Charles Voigt. Form 990, Part VI, Section B, line 11b The 990 is prepared and reviewed by an independent accounting firm. It is then reviewed internally by management. The Form 990 is further reviewed, prior to filing, by the organization's board of directors through a portal to the organization's internal information system, to which each board member has access. Educational sessions have been provided to board members on how to access the portal. Form 990, Part VI, Section B, line 12c As part of the annual disclosure of potential conflicts process, all board members, officers, and management are required to complete an annual disclosure statement on financial interests and conflicting interests. At Board and Board Committee meetings, the meeting agenda includes an initial item "Conflicts of Interest" where the Chair asks members if they have any conflicting interests or financial interests related to an agenda item. If a conflicting or financial interest is disclosed, it is noted in the minutes and there is discussion or determination of whether the disclosure requires the board or committee member to be excused from discussion or action on that agenda item. Board or committee members whose disclosure is found to be a conflict may be invited to speak on the matter by the Chair, but are not permitted to vote on the matter and may be required to leave the meeting during discussion, after they have made any comments invited by the Chair. Failure to comply with the Conflict of Interest policy constitutes grounds for removal from office or membership on the Board or Board Committee and, in the case of all employees, termination of employment. Form 990, Part VI, Section B, line 15a The Executive Committee of Monument Health, Inc (MHI; parent) annually engages an independent third party compensation firm to conduct a review of all executives, Vice President level and above, to determine an appropriate compensation range in which their compensation would be established. The independent compensation consultant provided peer group market comparative data for base salary, total cash compensation, benefits and total compensation for executives. The CEO or her designee determines the actual base salary of the executives within the committee-approved base salary range based on experience and performance, providing the total compensation is within the targeted market percentile, e.g. 50th percentile. Each year, the independent consultant meets with Committee members and presents data upon which the Committee determines all elements of compensation for the member's CEO (base salary, total cash compensation, benefits and total compensation) and reaffirms the organization's executive compensation philosophy, which includes the targeted market percentile for all other executives. Actual compensation is paid by Monument Health Rapid City Hospital and charged to Monument Health, Inc. Form 990, Part VI, Section C, line 19 The Articles of Incorporation of the organization are filed in the office of the Secretary of State of South Dakota and are available to the public from the Office of the Secretary of State. Other documents (Bylaws, conflict of interest policy and financial statements) are not posted for the public but are available or described in other public documents or sites such as offering statements in bond issues or municipal securities rulemaking board's electronic municipal market access (EMMA) data port. Form 990, Part X, Line 20: Monument Health, Inc. is part of the Monument Health, Inc. Obligated Group which consists of Monument Health, Inc., Monument Health Rapid City Hospital, Inc., Monument Health Network, Inc., and Monument Health Physicians, Inc. Monument Health, Inc. was not allocated any share of the bond issue, and thus does not have an amount on line 20. Monument Health Rapid City Hospital Inc 353 Fairmont Blvd Rapid City SD 57701 460319070 Healthcare SD 501(c)(3) Line 3 Monument Health Inc 1 Monument Health Network Inc 353 Fairmont Blvd Rapid City SD 57701 460360899 Healthcare SD 501(c)(3) Line 3 Monument Health Inc 1 Monument Health Physicians Inc 353 Fairmont Blvd Rapid City SD 57701 460372454 Healthcare SD 501(c)(3) PF Monument Health Inc 1 Medical & Dental Building 2805 S 5th St Rapid City SD 57701 460339629 Medical Office Bldg SD N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 Monument Health Rapid City HospitalInc L 2043000 Cost Monument Health NetworkInc L 459847 Cost Monument Health Rapid City HospitalInc K 67512 Cost