North Memorial Health Care

“All endowment funds are held by a related entity: north memorial foundation. 1) ralph rossen endowment: this endowment was established in 1986 to provide recognition to nursing staff that provide remarkable service to north memorial patients and their families. Members of the rossen family serve on a committee along with the vp and chief nursing officer of north memorial to select the recipients. 2) harold ecker endowment: established in 1994 in honor of the excellent care that mr. Ecker received as a patient at north memorial, harold ecker endowment provides a $500 award to three north memorial employees recognizing their outstanding performance and personal attitude. The award is open to all employees and the winners are selected by a committee of north memorial employees and presented at the annual quality awards luncheon in november each year. 3) residential hospice endowment: the residential hospice endowment was established by dr. John and patty manion to provide assistance to the residential hospice program at north memorial. Funds are used to upgrade the facilities and equipment at the north residential hospice facility in brooklyn center, provide additional program support, staff training and to assist those families that cannot afford this service. The residential hospice facility was sold in 2017 and we are currently working through the process to repurpose the endowment funds. No funds will be used until the process is complete. 4) helen murray memorial endowment this endowment was established with an irrevocable charitable remainder trust by jeanne mithun to recognize the outstanding service that north residential hospice provided to her mother (helen murray) and her family. Funds are used to provde care to individuals unable to pay for services at the facility. 5) medical staff endowment this endowment was established in 2010 by the north memorial medical staff executive committee. Proceeds from the endowment will fund north memorial programs such as junior volunteer scholarship, safejourney, pastoral care, etc. 6) maple grove medical staff endowment was established in 2013 by the maple grove medical staff executive committee. Proceeds from the endowment will fund maple grove programs. 7) billings/visaya endowment this endowment was established in 2021 through a donation from the billing-visaya family. Proceeds from the endowment will support activities of the established emergency fund to help cancer patients who need assistance with medical bills, transportation needs, utilities, rent/mortgage payments or other critical needs per the established guidelines. Per the gift agreement, the endowment includes a donor request for a five year growth period restriction and no spending allocation will occur until january 1, 2027 at the earliest.”

“North memorial is engaged in certain activities that result in unrelated business income. North memorial recorded an income tax expense of approximately $300,000 and $331,000 in 2024 and 2023, respectively, which is included with other operating expenses in the consolidated statements of operations. North memorial recognizes all tax positions when it is more likely than not that, based on technical merits, the position will be sustained upon examination. North memorial evaluates its uncertain positions on an annual basis, and there have been no uncertain tax positions recorded in the consolidated balance sheets as of december 31, 2024 or 2023. Please note that amounts included above regarding unrelated business income are for north memorial health as well as other organizations included in the consolidated audit report. North memorial health does not have any unrelated business income tax liability for tax year 2024.”

“Change in benefit obligation rental expenses bad debts netted with revenues”