Lgh Charitable Trust Inc
- Assets
- $63.5m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrence, MA
- Founding
- 05/1985
- Data as of
- 09/2021
- EIN
- 22-2586814
Organization Overview
Lgh Charitable Trust Inc is located in Lawrence, MA. The organization was established in 1985. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, 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. Lgh Charitable Trust 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, Lgh Charitable Trust Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $2.0m during the year ending 09/2021. While expenses have increased by 13.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE PHILANTHROPIC SUPPORT FOR THE DELIVERY OF COMPREHENSIVE HEALTH CARE TO PATIENTS ACROSS THE MERRIMACK VALLEY REGION. (SEE SCH O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND ENCOURAGE PHILANTHROPIC SUPPORT FOR THE DELIVERY OF COMPREHENSIVE HEALTH CARE TO PATIENTS ACROSS THE MERRIMACK VALLEY REGION BY ENSURING ACCESS TO HIGH-QUALITY CARE, THE LATEST TECHNOLOGIES AND CARING, PERSONALIZED TREATMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah J Wilson President & CEO (beg 11/19) | OfficerTrustee | 1 | $0 |
Jonathan Isaacson Chairman (end 07/21) | OfficerTrustee | 1 | $0 |
Dana J Marks Treasurer (end 12/20) | OfficerTrustee | 1 | $0 |
Dennis Conlin Secretary/clerk (end 12/20) | OfficerTrustee | 1 | $0 |
Robert Gilbert ESQ Chairman | OfficerTrustee | 1 | $0 |
Mark Johnson Secretary/clerk | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cain Brothers Company Investment Banking | 9/29/16 | $254,643 |
Ghorsi Sorrenti Inc Consulting | 9/29/16 | $136,499 |
Lawrence General Hospital Management Serv | 9/29/16 | $328,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,528,589 |
| Noncash contributions included in lines 1a–1f | $157,956 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,528,589 |
| Total Program Service Revenue | $0 |
| Investment income | $287,298 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,890,421 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,706,308 |
| 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 | $411,017 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,206 |
| Office expenses | $39,271 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,755 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,469,192 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $19,929 |
| Total functional expenses | $2,034,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,738,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $157,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $25,908,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,603,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,085,000 |
| Total assets | $63,515,000 |
| Accounts payable and accrued expenses | $386,000 |
| 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 | $31,960,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,000 |
| Total liabilities | $32,388,000 |
| Net assets without donor restrictions | $28,946,000 |
| Net assets with donor restrictions | $2,181,000 |
| 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 | $63,515,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lgh Charitable Trust Inc has recieved totaling $250,000.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Healthnet Corporation Boston, MA | $1,391,448 | $17,183,901 |
Albany Medical Center Saratoga Springs, NY | $17,328,223 | $18,761,699 |
Masonicare Corporation Wallingford, CT | $62,787,609 | $7,389,407 |
Metropolitan Medical Practice Plan Pc Bronx, NY | $6,076,770 | $14,643,918 |
Western Connecticut Health Network Affiliates Inc Danbury, CT | $7,022,021 | $12,529,671 |
Southcoast Health System Inc New Bedford, MA | $230,534,649 | $39,093,596 |
Mass General Brigham Incorporated Somerville, MA | $110,987,827 | $17,110,178 |
Exeter Health Resources Exeter, NH | $367,054,931 | $15,758,804 |
Buffalo Niagara Medical Campus Inc Buffalo, NY | $98,865,415 | $10,408,874 |
South Yarmouth Management Systems Inc Pittsfield, MA | $3,781,168 | $11,483,652 |
United Health Services Inc Binghamton, NY | $30,125,980 | $10,935,942 |
North Shore-Lij Cardiology At Deer Park Pc Westbury, NY | $1,851,842 | $8,492,015 |