Lahey Clinic Hospital Inc
- Assets
- $439.3m
- Revenue
- $1.0b
- Investments
- $13.4m
- Employees
- 5,348
- Location
- Burlington, MA
- Founding
- 10/1994
- Data as of
- 09/2020
- EIN
- 04-2704686
Organization Overview
Lahey Clinic Hospital Inc is located in Burlington, MA. The organization was established in 1994. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2021, Lahey Clinic Hospital Inc employed 5,348 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lahey Clinic Hospital 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 09/2020, Lahey Clinic Hospital Inc generated $1.0b in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $967.9m during the year ending 09/2020. While expenses have increased by 1.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Lahey Clinic Hospital Inc has awarded 47 individual grants totaling $2,537,058. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGENCY DEPT
INPATIENT
OUTPATIENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antoniades Efstathios COO | Officer | 55 | $624,333 |
Villanueva MD Andrew G Trustee, Chief Quality Officer | Trustee | 55 | $617,321 |
Liesching MD Timothy Chief Medical Officer | Officer | 55 | $581,489 |
Keitz Sheri Chair, Department Of Medicine | 55 | $559,020 | |
Mosenthal MD Anne Chief Academic Officer | Officer | 55 | $526,678 |
Galvin RN Msn Tracy A Chief Nursing Officer | Officer | 55 | $424,338 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beth Israel Lahey Health Inc (R) Beth Israel Lahey Health Professional Se | 9/29/21 | $40,618,543 |
Healthcare Workforce Logistics Llc (Hwl) Contingent Workforce Mgmt - Staffing Ser | 9/29/21 | $9,954,379 |
Sodexo Operations Llc Food Service | 9/29/21 | $5,955,679 |
Angelica Healthcare Svc Group Laundry & Linen Services | 9/29/21 | $2,437,660 |
Atrius Health Inc Physician Services | 9/29/21 | $2,338,644 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,680,282 |
| Investment income | $1,533,927 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $214,527 |
| Net Gain/Loss on Asset Sales | -$2,244 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,036,261,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $855,202 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,557,681 |
| Compensation to disqualified persons | $524,519 |
| Other salaries and wages | $304,283,881 |
| Pension plan accruals and contributions | $27,759,379 |
| Other employee benefits | $37,220,930 |
| Payroll taxes | $21,178,953 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,000 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $97,936 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,895,497 |
| Advertising and promotion | $49,411 |
| Office expenses | $4,035,743 |
| Information technology | $1,237,670 |
| Royalties | $0 |
| Occupancy | $16,417,668 |
| Travel | $337,694 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,692,802 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,476,849 |
| Insurance | $2,528,183 |
| All other expenses | $0 |
| Total functional expenses | $967,895,788 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,152 |
| Savings and temporary cash investments | $216,685,903 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,982,931 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,178,792 |
| Prepaid expenses and deferred charges | $6,803,817 |
| Investments—publicly traded securities | $44,876,083 |
| Investments—other securities | $13,408,117 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,394,086 |
| Total assets | $439,333,881 |
| Accounts payable and accrued expenses | $72,175,035 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $40,000,000 |
| Other liabilities | $237,887,557 |
| Total liabilities | $350,062,592 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $89,271,289 |
Grants Awarded
Over the last fiscal year, Lahey Clinic Hospital Inc has awarded $1,355,567 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
Bedford, MA PURPOSE: COMMUNITY SUPPORT | $301,196 |
Danvers, MA PURPOSE: COMMUNITY SUPPORT | $279,106 |
BURLINGTON COUNCIL ON AGING PURPOSE: COMMUNITY SUPPORT | $153,177 |
TOWN OF BURLINGTON PURPOSE: COMMUNITY SUPPORT | $150,000 |
Somerville, MA PURPOSE: COMMUNITY SUPPORT | $60,272 |
BURLINGTON PUBLIC SCHOOLS PURPOSE: COMMUNITY SUPPORT | $60,240 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lahey Clinic Hospital Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Miles & Gertrude W Hanson Foundation 100-0001319 Dallas, TX PURPOSE: OPHTHALMOLOGY RESEARCH | $40,000 |
Endowment Analysis
| Beg. Balance | $58,284,199 |
| Earnings | $5,259,003 |
| Admin Expense | $17,382 |
| Ending Balance | $63,525,820 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Good Samaritan Hosptial Medical Center West Islip, NY | $1,039,152,790 | $802,832,775 |
South Shore Hospital Inc South Weymouth, MA | $826,172,591 | $754,117,212 |
Bridgeport Hospital Bridgeport, CT | $853,709,766 | $729,975,555 |
White Plains Hospital Medical Center White Plains, NY | $1,287,581,438 | $833,931,324 |
Danbury Hospital Danbury, CT | $968,428,982 | $798,413,805 |