Lake Region Healthcare Corporation in Fergus Falls, Minnesota (MN)

Table of contents:

Organization representatives - add corrected or new information about Lake Region Healthcare Corporation »

Non-representatives - add comments about Lake Region Healthcare Corporation»

Lake Region Healthcare Corporation
Employer Identification Number (EIN)410730602
Name of OrganizationLake Region Healthcare Corporation
Address712 S Cascade St, Fergus Falls, MN 56537-2913
ActivitiesHospital
SubsectionCharitable Organization
Ruling Date06/1953
DeductibilityContributions are deductible
FoundationHospital or medical research organization
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$118,628,386
Amount of Income$108,777,222
Form 990 Revenue Amount$104,248,043
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Hospital, General


Non-representatives - add comments:


CAPTCHA

Your IP address 23.22.252.150 will be logged.

Amount of income in 2011: $108,777,222
This organization: 

 $108,777,222
Other organizations performing similar types of work: 

 $133,502,724

Assets in 2011: $118,628,386
This organization: 

 $118,628,386
Other organizations performing similar types of work: 

 $112,325,037

Expenses in 2007: $52,218,981
Lake Region Healthcare Corporation: 

 $52,218,981
Other organizations performing similar types of work: 

 $117,852,184

Income to expenses ratio in 2007: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 89.5%
Lake Region Healthcare Corporation: 

 89.5%
Other organizations performing similar types of work: 

 85.7%

Number of employees in 2007: 611
This organization: 

 611
Other organizations performing similar types of work: 

 1,079

Employees paid over $50,000 in 2007: 32.1%
This organization: 

 32.1%
Other organizations performing similar types of work: 

 28.8%

Grants share in income in 2007: 0.2%
This organization: 

 0.2%
Other organizations performing similar types of work: 

 0.4%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$37,637,857$39,659,831$42,954,080$46,387,275$52,017,142$53,710,589$58,666,136$55,946,452
Contributions, gifts, grants, and similar amounts received$15,811$73,203$114,398$66,464$42,561$121,340$80,291$135,417
Contributions to donor advised funds$0$0
Direct public support$15,811$73,203$114,398$66,464$42,561$121,340$80,291$135,417
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$36,119,521$38,692,350$41,923,748$45,470,597$50,322,569$51,423,543$53,316,685$52,666,961
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$885,169$560,021$304,882$440,728$993,122$1,598,065$2,077,679$2,672,303
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-8,746$-229,084$-14,776$-143,257$-170$123,267$2,826,277$-119,737
Gross amount from sales of assets other than inventory$1,372,615$3,262,980$1,138,032$1,910,194$31,639$1,497,513$5,862,628$2,968,282
Less: cost or other basis and sales expenses$1,381,361$3,492,064$1,152,808$2,053,451$31,809$1,374,246$3,036,351$3,088,019
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$626,102$563,341$625,828$552,743$659,060$444,374$365,204$591,508
Total expenses$34,654,439$37,360,687$40,519,281$43,474,910$46,423,099$48,501,307$49,853,146$52,218,981
Program services$31,190,572$33,561,675$36,589,321$39,221,335$42,106,760$43,762,257$45,326,004$46,751,364
Management and general$3,463,867$3,799,012$3,929,960$4,253,575$4,316,339$4,739,050$4,527,142$5,467,617
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$33,881,641$34,821,372$39,157,713$43,982,678$51,614,233$58,090,391$67,234,788$61,908,064
Excess or (deficit) for the year$2,983,418$2,299,144$2,434,799$2,912,365$5,594,043$5,209,282$8,812,990$3,727,471
Net assets or fund balances at beginning of year$33,947,733$33,881,641$34,821,372$39,157,713$43,982,678$51,614,233$58,090,391$67,234,788
Other changes in net assets or fund balances$-3,049,510$-1,359,413$1,901,542$1,912,600$2,037,512$1,266,876$331,407$-9,054,195
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$52,218,981$46,751,364$5,467,617$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$209,954$0$209,954$0
Compensation of former officers, directors, key employees, etc.$130,280$0$130,280$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$26,153,009$23,478,697$2,674,312$0
Pension plan contributions not included above$1,068,259$938,905$129,354$0
Employee benefits not included above$2,416,202$2,123,627$292,575$0
Payroll taxes$1,755,174$1,542,642$212,532$0
Professional fundraising fees$0$0$0$0
Accounting fees$41,017$0$41,017$0
Legal fees$335,273$0$335,273$0
Supplies$6,664,766$6,424,472$240,294$0
Telephone$80,844$71,055$9,789$0
Postage and shipping$41,253$36,258$4,995$0
Occupancy$896,752$810,882$85,870$0
Equipment rental and maintenance$1,782,831$1,221,094$561,737$0
Printing and publications$0$0$0$0
Travel$53,868$30,667$23,201$0
Conferences, conventions, and meetings$0$0$0$0
Interest$489,222$434,735$54,487$0
Depreciation, depletion, etc.$3,814,948$3,353,001$461,947$0
Other expenses not covered above$6,285,329$6,285,329$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$51,552,441$54,366,679$63,718,732$68,393,199$75,647,324$83,358,541$88,804,243$83,060,107
Cash - non-interest-bearing$6,159,032$6,144,087$8,137,080$4,581,693$10,825,371$8,844,367$7,225,328$7,949,649
Savings and temporary cash investments$0$0$0$4,023,759$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$6,429,128$6,483,691$6,577,842$7,431,972$9,926,303$9,097,785$8,697,582
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$698,549$737,364$780,475$835,185$885,718$881,967$901,943$1,052,590
Prepaid expenses and deferred charges$64,235$873,736$753,629$670,897$583,102$757,225$553,300$404,746
Investments - publicly-traded securities$0$0
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$19,433,737$0$0$0$701,422$26,974,965
Investments - other$0$0$0$0$0$0$223,950$2,527,825
Land, buildings, and equipment less accumulated depreciation$19,036,604$22,342,340$25,645,962$27,078,915$26,626,547$29,073,571$33,740,457$32,649,848
Other assets, including program-related investments$25,594,014$17,840,024$2,484,158$24,624,908$29,294,614$33,875,108$36,360,058$2,802,902
Total liabilities$17,670,799$19,545,307$24,561,019$24,410,521$24,033,091$25,268,150$21,569,455$21,152,043
Accounts payable and accrued expenses$3,922,447$6,407,239$6,751,126$6,446,059$6,522,843$10,270,010$7,349,269$8,297,579
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$7,417,558$7,390,000$6,990,000$6,580,000$6,155,000$5,715,000$5,255,000
Mortgages and other notes payable$4,799,824$5,506,675$9,147,438$9,112,823$8,385,654$7,623,435$6,807,398$6,072,275
Other liabilities$8,948,522$213,835$1,272,455$1,861,639$2,544,594$1,219,705$1,697,788$1,527,189
Total liabilities and net assets/fund balances$51,552,441$54,366,679$63,718,732$68,393,199$75,647,324$83,358,541$88,804,243$83,060,107
Total net assets or fund balances$33,881,641$34,821,372$39,157,713$43,982,678$51,614,233$58,090,391$67,234,788$61,908,064
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$37,637,857$39,659,831$42,954,080$46,387,275$52,017,142$53,710,589$58,666,136$55,946,452
Total revenue, gains, and other support per audited financial statements$37,637,857$39,659,831$42,954,080$46,387,275$52,017,142$53,710,589$58,666,136$55,946,452
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$34,654,439$37,360,687$40,519,281$43,474,910$46,423,099$48,501,307$49,853,146$52,218,981
Total expenses and losses per audited financial statements$34,654,439$37,360,687$40,519,281$43,474,910$46,423,099$48,501,307$49,853,146$52,218,981
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$207,080$143,939$2,874
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings14
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$430,694$5,160$9,586
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006611
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$3,144,074$52,666,961
Program service revenue
Program service revenue 1000000$000$0$52,666,961
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,672,303$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-119,737$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$591,508$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
41141112950%$625,109$284,901
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$228,716$22,025$0
$188,194$18,388$0
$184,799$21,400$0
$182,927$21,241$0
$185,526$18,206$0
Total number of other employees paid over $50,000190
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isHospital, or a cooperative hospital service organization
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Mayo Clinic-Saint Marys Hospital200 1st St Sw, Rochester, MN 55905-0001MN1946-03$878,193,517
2North Memorial Health Care3300 Oakdale Ave N, Robbinsdale, MN 55422-2926MN1941-03$675,958,899
3St Cloud Hospital1406 6th Ave N, Saint Cloud, MN 56303-1900MN2003-03$658,801,760
4Hennepin Healthcare System Inc, Hennepin County Medical Center701 Park Avenue Finance P-1, Minneapolis, MN 55415-1623MN2007-06$658,217,560
5Regions Hospital8170 33rd Ave S, Minneapolis, MN 55425-4516MN1987-02$589,412,723
6Mayo Clinic-Methodist Hospital200 1st St Sw, Rochester, MN 55905-0001MN1955-03$534,706,968
7St Marys Medical Center407 E 3rd St, Duluth, MN 55805-1950MN1946-03$387,589,295
8Smdc Medical Center502 E 2nd St, Duluth, MN 55805-1913MN1997-10$374,069,868
9St Lukes Hospital Association Of Duluth915 E 1st St, Duluth, MN 55805-2107MN1949-01$321,095,218
10Mayo Clinic Health System-MankatoPO BOX 8673, Mankato, MN 56002-8673MN1943-05$272,581,467
11Healtheast St Josephs Hospital559 Capitol Blvd, Saint Paul, MN 55103-2101MN1987-10$262,032,590
12Healtheast St Johns Hospital559 Capitol Blvd, Saint Paul, MN 55103-2101MN1983-10$257,578,259
13Healtheast Care System559 Capitol Blvd, Saint Paul, MN 55103-2101MN1987-10$186,085,348
14St Joseph S Medical Center523 N 3rd St, Brainerd, MN 56401-3054MN1946-03$160,597,347
15Ridgeview Medical Center500 S Maple St, Waconia, MN 55387-1752MN1999-11$158,298,510
16Olmsted Medical Center1650 4th St Se, Rochester, MN 55904-4717MN1993-07$149,656,678
17St Francis Regional Medical CenterPO BOX 43, Minneapolis, MN 55440-0043MN1969-01$144,011,494
18Healtheast Woodwinds Hospital559 Capitol Blvd, Saint Paul, MN 55103-2101MN1987-10$135,703,892
19Mayo Clinic Health System-Albert Lea404 W Fountain St, Albert Lea, MN 56007-2437MN1982-02$133,807,768
20Sanford Health Of Northern Minnesota1300 Anne St Nw, Bemidji, MN 56601-5103MN1977-02$131,098,136
21Mayo Clinic Health System-Austin1000 1st Dr Nw, Austin, MN 55912-2941MN1959-04$112,280,040
22Lake Region Healthcare Corporation712 S Cascade St, Fergus Falls, MN 56537-2913MN1953-06$108,777,222
23Winona Health ServicesPO BOX 5600, Winona, MN 55987-0600MN1935-03$91,660,031
24Range Regional Health Services750 E 37th St, Hibbing, MN 55746MN1977-03$91,533,124
25Regina Medical Center1175 Nininger Rd, Hastings, MN 55033-1056MN1946-03$86,926,446
26Mayo Clinic Health System-Fairmont800 Medical Center Dr, Fairmont, MN 56031-4575MN1943-01$81,120,773
27St Marys Regional Health Center1027 Washington Ave, Detroit Lakes, MN 56501-3409MN1989-03$71,613,215
28Unity Family Healthcare815 2nd St Se, Little Falls, MN 56345-3505MN1946-03$60,521,147
29Aitkin Community Hospital Inc, Riverwood Healthcare Center200 Bunker Hill Dr, Aitkin, MN 56431-1865MN1956-05$50,057,914
30Lakeview Memorial Hospital Association Inc927 Churchill St W, Stillwater, MN 55082-6605MN1962-05$47,991,105
Number of organizations performing similar types of work
Alaska3
Alabama19
Arkansas23
Arizona17
California117
Colorado17
Connecticut27
District of Columbia3
Delaware6
Florida56
Georgia53
Hawaii5
Iowa27
Idaho8
Illinois105
Indiana48
Kansas32
Kentucky34
Louisiana22
Massachusetts47
Maryland42
Maine19
Michigan62
Minnesota40
Missouri49
Mississippi19
Montana11
North Carolina50
North Dakota14
Nebraska20
New Hampshire21
New Jersey52
New Mexico7
Nevada4
New York132
Ohio94
Oklahoma20
Oregon25
Pennsylvania155
Rhode Island10
South Carolina14
South Dakota10
Tennessee27
Texas54
Virginia38
Vermont9
Washington19
Wisconsin72
West Virginia24
Wyoming1
International10
Total1,793

faqs.org is not associated with, endorsed by, or sponsored by Lake Region Healthcare Corporation and has no official or unofficial affiliation with Lake Region Healthcare Corporation