Lakewood Health System in Staples, Minnesota (MN)

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Lakewood Health System
Employer Identification Number (EIN)411842965
Name of OrganizationLakewood Health System
In Care of NameTimothy Rice
Address49725 County Road 83, Staples, MN 56479
ActivitiesHospital
SubsectionCharitable Organization
Ruling Date02/1997
DeductibilityContributions are deductible
FoundationHospital or medical research organization
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$82,524,477
Amount of Income$85,712,427
Form 990 Revenue Amount$85,646,577
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Community Health Systems


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Amount of income in 2011: $85,712,427
Lakewood Health System: 

 $85,712,427
Other organizations performing similar types of work: 

 $2,079,411

Assets in 2011: $82,524,477
Lakewood Health System: 

 $82,524,477
Other organizations performing similar types of work: 

 $3,246,959

Expenses in 2007: $60,410,388
This organization: 

 $60,410,388
Other organizations performing similar types of work: 

 $25,657,865

Income to expenses ratio in 2007: 1.1
Lakewood Health System: 

 1.1
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 78.5%
Lakewood Health System: 

 78.5%
Other organizations performing similar types of work: 

 81.8%

Number of employees in 2007: 703
Lakewood Health System: 

 703
Other organizations performing similar types of work: 

 530

Employees paid over $50,000 in 2007: 17.1%
This organization: 

 17.1%
Other organizations performing similar types of work: 

 20.7%

Grants share in income in 2007: 0.4%
Lakewood Health System: 

 0.4%
Other organizations performing similar types of work: 

 0.5%

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
2004200520062007
Total revenue$37,392,504$43,831,272$46,026,251$63,805,373
Contributions, gifts, grants, and similar amounts received$497,736$614,245$238,516$234,866
Contributions to donor advised funds$0$0
Direct public support$66,264$83,792$89,559$75,698
Indirect public support$0$0$0$0
Government contributions (grants)$431,472$530,453$148,957$159,168
Program service revenue including government fees and contracts$35,238,075$41,272,329$43,332,189$59,207,599
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$127,458$173,673$277,809$368,403
Dividends and interest from securities$0$0$0$0
Net rental income or (loss)$218,864$215,296$187,917$211,536
Gross rents$218,864$215,296$187,917$211,536
Less: rental expenses$0$0$0$0
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$20,068$-23,760$19,641$-37,371
Gross amount from sales of assets other than inventory$83,170$9,475$19,641$0
Less: cost or other basis and sales expenses$63,102$33,235$0$37,371
Net income or (loss) from special events and activities$32,156$30,960$30,875$20,981
Gross revenue$47,996$45,673$46,408$50,482
Less: direct expenses other than fundraising expenses$15,840$14,713$15,533$29,501
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$1,258,147$1,548,529$1,939,304$3,799,359
Total expenses$35,582,982$42,025,197$44,565,889$60,410,388
Program services$27,914,912$32,637,103$34,850,657$47,392,177
Management and general$7,668,070$9,388,094$9,715,232$13,018,211
Fundraising$0$0$0$0
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$9,770,871$11,576,946$13,037,308$16,432,293
Excess or (deficit) for the year$1,809,522$1,806,075$1,460,362$3,394,985
Net assets or fund balances at beginning of year$7,961,349$9,770,871$11,576,946$13,037,308
Other changes in net assets or fund balances$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$60,410,388$47,392,177$13,018,211$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.$968,406$0$968,406$0
Compensation of former officers, directors, key employees, etc.$169,568$0$169,568$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$21,379,411$17,639,227$3,740,184$0
Pension plan contributions not included above$1,774,003$1,390,818$383,185$0
Employee benefits not included above$4,558,683$3,574,007$984,676$0
Payroll taxes$1,589,748$1,246,362$343,386$0
Professional fundraising fees$0$0$0$0
Accounting fees$53,368$0$53,368$0
Legal fees$12,776$0$12,776$0
Supplies$6,903,236$6,692,634$210,602$0
Telephone$254,666$34,920$219,746$0
Postage and shipping$64,398$0$64,398$0
Occupancy$1,314,888$1,221,839$93,049$0
Equipment rental and maintenance$2,824,089$2,361,770$462,319$0
Printing and publications$147,719$38,871$108,848$0
Travel$423,045$312,861$110,184$0
Conferences, conventions, and meetings$0$0$0$0
Interest$2,048,822$1,746,058$302,764$0
Depreciation, depletion, etc.$2,690,368$2,394,158$296,210$0
Other expenses not covered above$13,233,194$8,738,652$4,494,542$0
Balance Sheets
2004200520062007
Total assets$53,887,882$58,580,685$60,505,778$65,604,881
Cash - non-interest-bearing$201,644$230,689$264,328$2,322,329
Savings and temporary cash investments$1,562,094$3,103,944$1,544,334$1,544,482
Accounts receivable less allowance for doubtful accounts$5,487,203$6,740,174$7,158,084$9,642,539
Pledges receivable less allowance for doubtful accounts$0$0$0$0
Grants receivable$213,806$7,466$22,288$7,290
Receivables from current and former officers, directors, trustees, and key employees$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
Inventories for sale or use$357,756$446,346$578,346$721,697
Prepaid expenses and deferred charges$1,080,517$1,291,602$1,460,124$1,794,356
Investments - publicly-traded securities$169,970$0
Investments - other securities$30,085,967$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$174,843$203,214$0$285,662
Land, buildings, and equipment less accumulated depreciation$14,698,754$30,679,108$47,115,188$47,144,938
Other assets, including program-related investments$25,298$15,878,142$2,193,116$2,141,588
Total liabilities$44,117,011$47,003,739$47,468,470$49,172,588
Accounts payable and accrued expenses$3,836,788$6,827,527$6,701,856$5,515,038
Grants payable$0$0$0$0
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$39,778,764$39,266,853$38,751,064$42,596,556
Mortgages and other notes payable$426,261$888,175$1,987,624$655,111
Other liabilities$75,198$21,184$27,926$405,883
Total liabilities and net assets/fund balances$53,887,882$58,580,685$60,505,778$65,604,881
Total net assets or fund balances$9,770,871$11,576,946$13,037,308$16,432,293
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2004200520062007
Total revenue$37,392,504$43,831,272$46,026,251$63,805,373
Total revenue, gains, and other support per audited financial statements$37,302,574$43,719,523$45,922,827$63,702,305
Other expenses$0$0$0$0
Net unrealized gains on investments$0$0$0$0
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$0$0
Other revenue$89,930$111,749$103,424$103,068
Investment expenses$0$0$0$0
Other$89,930$111,749$103,424$103,068
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2004200520062007
Total expenses$35,582,982$42,025,197$44,565,889$60,410,388
Total expenses and losses per audited financial statements$35,514,705$41,942,107$44,495,664$60,317,072
Other revenue$0$0$0$0
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$0
Other expenses$68,277$83,090$70,225$93,316
Investment expenses$0$0$0$0
Other$68,277$83,090$70,225$93,316
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$272,248$31,137$0
40$147,930$24,513$0
40$153,300$9,215$0
40$153,507$23,295$0
40$153,507$25,240$0
40$87,914$16,030$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings11
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$169,568$23,387$0
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, 2006703
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$1,249,381$62,321,126
Program service revenue
Program service revenue 1000000$000$0$59,207,599
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$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)$368,403$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$211,536
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$000$0$-37,371
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$20,981$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))$859,997$2,939,362
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
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
$219,121$28,317$0
$132,809$17,131$0
$116,667$23,030$0
$117,040$20,169$0
$115,232$21,074$0
Total number of other employees paid over $50,000109
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
2003200420052006
Total$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$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
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
Other income$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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$85,646,577
Contributions, Gifts, Grants and Other Similar Amounts$230,334
Program Service Revenue$84,369,027
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$286,131
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-34,849
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $22,750
Less: cost or other basis and sales expenses (Securities / Other)$0 / $57,599
Gain or (loss) (Securities / Other)$0 / $-34,849
Net income from fundraising events$28,634
Gross income from fundraising events$36,885
Less: direct expenses$8,251
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$767,300
Statement of Functional Expenses (for 2011)
Total functional expenses$82,749,501
Compensation of current officers, directors, trustees, and key employees$2,742,035
Other salaries and wages$30,393,515
Payroll taxes$3,549,776
Professional fundraising services$0
Other$46,064,175
Balance Sheet (for 2011)
Total assets$82,524,477
Total liabilities$54,000,105
Tax-exempt bond liabilities$40,276,116
Secured mortgages and notes payable to unrelated third parties$4,483,904
Unsecured notes and loans payable to unrelated third parties$0
Other$9,240,085
Total net assets or fund balances$28,524,372
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1University Hospitals Health System Inc, Group Return11100 Euclid Ave, Cleveland, OH 44106-1716OH1989-02$2,085,037,000
2Providence Medical Research Center101 W 8th Ave, Spokane, WA 99204-2307WA1946-03$1,231,839,049
3Saint Thomas Health Services4220 Harding Pike, Nashville, TN 37205-2005TN1988-01$236,028,271
4Gulf Health Hospitals IncPO BOX 2226, Mobile, AL 36652-2226AL1986-06$169,820,582
5Mayo Clinic Health System In Waycross Inc1900 Tebeau St, Waycross, GA 31501-6357GA1986-07$147,340,226
6Wellspan HealthPO BOX 2767, York, PA 17405-2767PA1984-11$143,697,382
7Familycare Inc825 Ne Multnomah St Ste 300, Portland, OR 97232-2157OR1994-06$141,807,725
8Norton Sound Health CorporationPO BOX 966, Nome, AK 99762-0966AK1975-12$122,659,995
9Centegra Health System385 Millennium Dr, Crystal Lake, IL 60012-3761IL1983-04$111,271,364
10Presence Saint Joseph Hospital Chicago2900 N Lake Shore Dr, Chicago, IL 60657-5640IL1984-03$101,632,740
11Atlantic General Hospital, Atlantic General Health System9733 Healthway Dr, Berlin, MD 21811-1155MD1989-12$89,163,932
12Lakewood Health System49725 County Road 83, Staples, MN 56479MN1997-02$85,712,427
13Taos Health Systems Inc Holy Cross Hospital1397 Weimer Rd, Taos, NM 87571-6253NM1981-07$66,660,724
14Hilltop Health Services Corporation1331 Hermosa Ave, Grand Jct, CO 81506-4099CO1998-10$29,230,866
15Independent Healthcare Management Inc, Lackey Mem Hosp & Convalesant HomePO BOX 1100, Magee, MS 39111-1100MS1992-06$26,919,815
16St Josephs Candler Hospital Inc5353 Reynolds St, Savannah, GA 31405-6015GA1997-08$19,675,112
17University Hospitals Laboratory Services Foundation11100 Euclid Ave, Cleveland, OH 44106-1716OH1989-02$16,785,000
18Healtheast FoundationPO BOX 64624, Saint Paul, MN 55164-0624MN1988-05$6,466,193
19Medisota1280 Locust St Apt 16, Dawson, MN 56232-2375MN1984-05$405,119
20Central Minnesota Emergency Medical Services Council803 W Saint Germain St Ste 106, St Cloud, MN 56301-3536MN1981-08$230,530
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas4
Arizona2
California17
Colorado8
Connecticut9
District of Columbia1
Delaware1
Florida6
Georgia7
Hawaii1
Iowa3
Illinois16
Indiana8
Kansas5
Kentucky4
Louisiana4
Massachusetts21
Maryland6
Maine4
Michigan12
Minnesota7
Missouri3
Mississippi5
Montana3
North Carolina7
Nebraska5
New Hampshire5
New Jersey12
New Mexico1
Nevada2
New York24
Ohio31
Oklahoma8
Oregon1
Pennsylvania34
Rhode Island1
South Carolina3
South Dakota3
Tennessee6
Texas11
Utah1
Virginia9
Vermont2
Washington4
Wisconsin5
West Virginia2
Total339

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