Lawrence And Memorial Hospital Inc

Organization Overview

Lawrence And Memorial Hospital Inc is located in New London, CT. The organization was established in 1937. 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 09/2023, Lawrence And Memorial Hospital Inc employed 2,733 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lawrence And Memorial 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 09/2022, Lawrence And Memorial Hospital Inc generated $461.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $442.7m during the year ending 09/2022. While expenses have increased by 3.6% per year over the past 7 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 2016, Lawrence And Memorial Hospital Inc has awarded 45 individual grants totaling $968,325. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO IMPROVE THE HEALTH OF THE REGION AND TO PROVIDE HEALTHCARE SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE SCHEDULE O


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Board, Officers & Key Employees

Name (title)Compensation
William J Aseltyne
Trustee (current Yr Comp)
$0
William J Aseltyne
Trustee (vested Deferred)
$0
Patrick L Green
President/trustee
$542,625
Oliver Mayorga
Vp/cmo
$551,814
Richard Lisitano
President/trustee
$377,771
Stephen Allegretto
Former Officer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ipc Hospitalists
Hospitalists
$7,923,920
Anesthesia Associates Of New London
Medical Services
$2,753,053
Vizient Inc
Healthcare Improvement
$1,785,259
Unitex Textile Rental Service
Linens/laundering
$1,403,309
Colonel Landscaping Llc
Landscaping
$937,843
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$145,100
Related organizations$40,000
Government grants $10,217,324
All other contributions, gifts, grants, and similar amounts not included above$3,063,101
Noncash contributions included in lines 1a–1f $271,968
Total Revenue from Contributions, Gifts, Grants & Similar$13,465,525
Total Program Service Revenue$434,144,168
Investment income $1,550,853
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $52,206
Net Gain/Loss on Asset Sales $8,128,263
Net Income from Fundraising Events -$10,074
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $461,794,793

Grants Awarded

Over the last fiscal year, Lawrence And Memorial Hospital Inc has awarded $103,820 in support to 3 organizations.

Grant RecipientAmount

NEW LONDON HOMELESS HOSPITALITY CENTER INC

PURPOSE: SUPPORT ORGANIZATION

$20,520

FRESH NEW LONDON CO TSNE

PURPOSE: SUPPORT ORGANIZATION

$75,000

JDRF

PURPOSE: SUPPORT ORGANIZATION

$8,300
View Grant Profile

Peer Organizations

Organization NameAssets
Newyork-Presbyterian-Queens
Flushing, NY
$913,594,490
New York-Presbyterian Brooklyn Methodist
Brooklyn, NY
$932,635,722
Bronxcare Health System
Bronx, NY
$950,080,223
Saint Francis Hospital And Medical Center
Hartford, CT
$931,352,319
Bridgeport Hospital
Bridgeport, CT
$838,048,221
St Francis Hospital
Roslyn, NY
$969,845,898
Danbury Hospital
Danbury, CT
$872,375,186
South Shore Hospital Inc
South Weymouth, MA
$782,781,208
United Health Services Hospitals Inc
Binghamton, NY
$826,097,433
Vassar Brothers Medical Center
Poughkeepsie, NY
$774,380,228
Good Samaritan Hosptial Medical Center
West Islip, NY
$802,832,775
Stamford Hospital
Stamford, CT
$776,060,348
Jamaica Hospital Medical Center
Jamaica, NY
$748,096,129
St Peters Hospital
Albany, NY
$713,213,196
White Plains Hospital Medical Center
White Plains, NY
$782,363,978
Kent County Memorial Hospital
Providence, RI
$646,011,139
The Unity Hospital Of Rochester
Rochester, NY
$636,049,483
Mary Imogene Bassett Hospital
Cooperstown, NY
$653,736,548
Berkshire Medical Center Inc
Pittsfield, MA
$700,916,647
Garnet Health Medical Center
Middletown, NY
$615,559,035
Huntington Hospital Association
Westbury, NY
$641,216,866
Hospital Of Central Connecticut At New Britain General And Bradley Me
New Britain, CT
$650,286,838
St Josephs Hospital Health Center
Syracuse, NY
$632,171,015
The Lowell General Hospital
Lowell, MA
$657,122,447
South Nassau Communities Hospital
Oceanside, NY
$707,015,937

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