Lahey Clinic Foundation Inc
- Assets
- $924.7m
- Revenue
- $37.6m
- Investments
- $134.8m
- Employees
- 0
- Location
- Burlington, MA
- Founding
- 10/1994
- Data as of
- 09/2021
- EIN
- 04-2323457
Organization Overview
Lahey Clinic Foundation Inc is located in Burlington, MA. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lahey Clinic Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Lahey Clinic Foundation Inc generated $37.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.6% each year .
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Longworth MD David Trustee (ex Officio), President | OfficerTrustee | 1 | $0 |
Tabb MD Kevin Trustee (ex Officio) And CEO (ex-Officio) | OfficerTrustee | 1 | $0 |
Lang David Trustee, Chair | OfficerTrustee | 1 | $0 |
Fischer Steven Bilh Cfo, Treasurer (ex-Officio) | Officer | 1 | $0 |
Katz ESQ Jamie Bilh Gen. Counsel, Clerk (ex-Officio) | Officer | 1 | $0 |
Kerndl John Treasurer (ex-Officio) | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beth Israel Lahey Health Inc (R) Beth Israel Lahey Health Professional Se | 9/29/21 | $65,423,382 |
G Greene Construction Co Inc Construction Services - Capital Projects | 9/29/21 | $2,206,234 |
Charles Construction Company Inc Construction Services - Capital Projects | 9/29/21 | $1,185,298 |
Columbia Construction Company Construction Services - Capital Projects | 9/29/21 | $3,463,850 |
Peluso Construction Inc Construction Services - Capital Projects | 9/29/21 | $3,450,254 |
View All Vendors
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $212,473 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,893,566 |
| Noncash contributions included in lines 1a–1f | $1,023,893 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,106,039 |
| Total Program Service Revenue | $0 |
| Investment income | $7,122,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,401,288 |
| Net Income from Fundraising Events | -$1,026,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,603,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,044,726 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $573 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $24,985 |
| Total functional expenses | $1,070,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,830,886 |
| Pledges and grants receivable | $8,471,726 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $656,825 |
| Net Land, buildings, and equipment | $481,144,832 |
| Investments—publicly traded securities | $243,016,479 |
| Investments—other securities | $134,762,561 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,833,254 |
| Total assets | $924,716,563 |
| Accounts payable and accrued expenses | $29,741,398 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $276,784,736 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,437,084 |
| Total liabilities | $556,963,218 |
| Net assets without donor restrictions | $223,611,817 |
| Net assets with donor restrictions | $144,141,528 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $924,716,563 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Lahey Clinic Foundation Inc has recieved totaling $748,855.
| Awarding Organization | Amount |
|---|---|
Elmer K & Ethel R Timby Charitable Tr Newtown, PA PURPOSE: GENERAL FUND | $331,437 |
Oneworld Boston Inc Woburn, MA PURPOSE: HEALTHCARE SERVICES | $264,500 |
Jacques Mohr Charitable Trust Boston, MA PURPOSE: GENERAL PURPOSES | $39,711 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $34,426 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $27,619 |
Goulder Family Foundation Pennington, NJ PURPOSE: UNRESTRICTED GENERAL | $15,000 |
View Grant Recipient Profile
Endowment Analysis
| Beg. Balance | $349,527,526 |
| Earnings | $53,411,629 |
| Net Contributions | $514,033 |
| Other Expense | $25,647,149 |
| Ending Balance | $377,806,039 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rhode Island Hospital Foundation Providence, RI | $69,328,658 | $16,409,972 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
Broadline Risk Retention Group Inc Colchester, VT | $135,251,113 | $22,474,493 |
The Childrens Hospital Of Buffalo Foundation Buffalo, NY | $94,191,581 | $13,115,103 |
The St Francis Hospital Foundation Inc Roslyn, NY | $262,392,526 | $17,931,065 |
International Union Operating Engineers Johnston, RI | $24,623,216 | $15,388,250 |
Danbury Hospital & New Milford Hospital Foundation Inc Danbury, CT | $175,854,316 | $24,324,982 |
New York And Presbyterian Hospitals Healthcare System Inc New York, NY | $3,724,021 | $13,051,406 |
Connecticut Childrens Foundation Inc Hartford, CT | $208,742,176 | $23,151,101 |
Umh Jgj Corp Binghamton, NY | $8,297,454 | $12,939,554 |