IRS Form 990 · EIN 41-0706115

Madison Healthcare Services

Madison, MN 56256-1006 · Tax year 2023

NTEE E22Specialty Hospital

$20.7M

Total revenue

$20.9M

Total expenses

$-184K

Net income

-0.9%

Operating margin

Financial summary

Hospital-specific data — what the org reports to defend tax-exempt status

Compared to 23 organizations with NTEE E22 in MN

Avg revenue (peers)

$626.9M

This org:$20.7M

Avg net income (peers)

$900K

This org:$-184K

Avg top exec comp (peers)

$662K

This org (highest):$424K

14 officers + key employees from the most recent Schedule J filing (FY2022; the financial summary above is FY2023)

Name	Title	Hours/wk	Base comp	Total comp
BRANT HACKER MD	MD	40	$265K	$424K
MARIA NOLTE MD	MD	40	$223K	$314K
ERIK BJERKE	CEO	40	$199K	$255K
PAUL HODGE NP	NURSE PRACTITIONER	40	$120K	$182K
MICHAEL DEYO PA	PHYSICIAN ASSISTANT	32	$142K	$166K
CAROL BORGERSON	CFO	40	$109K	$126K
MARIBETH OLSON	PHYSICIAN ASSISTANT	24	$119K	$123K
TIM VOLK	DIRECTOR	1	—	—
JEANENE MUNSTERMAN	DIRECTOR	1	—	—
DAVID HALL	DIRECTOR	1	—	—
SCOTT OMLAND	DIRECTOR	1	—	—
BART HILL	DIRECTOR	1	—	—
KARIN MOEN	SECRETARY	1	—	—
LYNN ZIMMERMAN	CHAIRMAN	1	—	—

Revenue and net income trend across all available filings

RevenueNet income

Year	Revenue	Expenses	Net income	Assets
2023	$20.7M	$20.9M	$-184K	$44.8M
2022	$20.5M	$20.7M	$14K	$46.6M
2021	$23.2M	$18.2M	$7K	$39.7M
2020	$18.2M	$17.2M	$149K	$36.4M
2019	$18.5M	$16.8M	$1.7M	$29.5M
2018	$16.9M	$16.6M	$10K	$29.0M
2017	$17.2M	$16.5M	$699K	$28.2M
2016	$16.9M	$15.6M	$1.3M	$26.8M
2015	$15.4M	$15.6M	$-159K	$25.1M
2014	$14.8M	$16.0M	$-1.3M	$25.0M

This organization appears to be a hospital. Explore additional data sources: