Loyola University Health System
- Assets
- $2.4b
- Revenue
- $198.4m
- Investments
- $5.7m
- Employees
- 0
- Location
- Maywood, IL
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 36-3342448
Organization Overview
Loyola University Health System, operating under the name Loyola Medicine, is located in Maywood, IL. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Loyola Medicine 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 06/2022, Loyola Medicine generated $198.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 47.2% each year . All expenses for the organization totaled $215.7m during the year ending 06/2022. While expenses have increased by 49.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH CARE SYSTEM MANAGEMENT AND SUPPORT
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOYOLA UNIVERSITY HEALTH SYSTEM (LUHS) OFFERS INTEGRATED ACADEMIC MEDICINE, ADVANCED TECHNOLOGY AND EXPERT CLINICIANS WHO ARE LEADERS IN THEIR FIELDS. BASED 10 MILES WEST OF CHICAGO, LUHS IS A NATIONALLY RECOGNIZED LEADER IN PROVIDING HEALTH CARE AND IN CONDUCTING RESEARCH IN HEART DISEASE, CANCER, BONE MARROW TRANSPLANT, ORGAN TRANSPLANTATION, ORTHOPAEDIC TREATMENTS, AND NEUROLOGICAL DISORDERS.LUHS IS COMPRISED OF LOYOLA UNIVERSITY MEDICAL CENTER (LUMC) IN MAYWOOD, GOTTLIEB MEMORIAL HOSPITAL IN MELROSE PARK, MACNEAL HOSPITAL IN BERWYN, 75 HEALTH CENTERS OFFERING PRIMARY AND SPECIALTY CARE IN SUBURBAN CHICAGO, AND TWO ACCOUNTABLE CARE ORGANIZATIONS. THE LUMC CAMPUS IS ALSO HOME TO RENOWNED CENTERS OF EXCELLENCE, INCLUDING: - CARDINAL BERNARDIN CANCER CENTER - WILLIAM G. AND MARY A. RYAN CENTER FOR HEART AND VASCULAR MEDICINE - LEVEL I TRAUMA CENTER - BURN CENTER - RONALD MCDONALD CHILDREN'S HOSPITAL OF LOYOLA UNIVERSITY MEDICAL CENTER - LOYOLA OUTPATIENT CENTER OUR HOSPITALS AND HEALTH CENTERS ARE ACCREDITED BY THE JOINT COMMISSION. SINCE 2009, LUMC AND LOYOLA HEALTH CENTERS HAVE HELD MAGNET DESIGNATION FOR EXCELLENCE IN NURSING AND PATIENT CARE.LUHS PROVIDES HEALTH CARE SYSTEM MANAGEMENT, ADMINISTRATIVE, AND OTHER SUPPORT SERVICES TO ITS SUBSIDIARIES. LUHS ALSO OPERATES AS AN ACCOUNTABLE CARE ORGANIZATION (ACO). AS PART OF THESE ACO ACTIVITIES, LUHS RECEIVES CAPITATED PAYMENTS FOR MEDICAL AND RELATED SERVICES RENDERED TO HMO'S AND THEIR MEMBERS BY AFFILIATED HOSPITALS AND PHYSICIANS.AS A RESULT OF THESE SERVICES, LUHS HELPS THESE HOSPITALS AND HEALTH CENTERS ACHIEVE THEIR OBJECTIVE OF PROVIDING STATE-OF-THE ART HEALTH CARE SERVICES TO THE COMMUNITIES THEY SERVE.PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION: WWW.LOYOLAMEDICINE.ORG
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Carter Former Officer;trinity Hlth Evp, COO | 0 | $0 | |
Shawn Vincent Director; Pres & Ceo, Il/in Region | OfficerTrustee | 1 | $0 |
Tammy Lundstrom MD Director; Trinity Svp, Cmo | Trustee | 1 | $0 |
Daniel Isacksen Treasurer; Trinity Health CFO | Officer | 1 | $0 |
Richard Freeman MD Chief Clinical Officer | Officer | 1 | $0 |
Christopher Gonzalez MD Director; Lumc Professor | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Business Solutions Information System Services | 6/29/22 | $7,333,185 |
Healthrise Billing Management Services | 6/29/22 | $3,225,026 |
Change Healthcare Solutions Llc Accounting Services | 6/29/22 | $2,924,867 |
Ayni Brigade Llc Consulting Services | 6/29/22 | $2,266,080 |
Nationwide Credit & Collection Billing And Collection Services | 6/29/22 | $2,223,260 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $433,804 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $433,804 |
| Total Program Service Revenue | $165,238,136 |
| Investment income | $13,569,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $872,468 |
| Net Gain/Loss on Asset Sales | $4,721,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,449,397 |
| 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 | $66,630,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,684,398 |
| Payroll taxes | $4,467,768 |
| Fees for services: Management | $110,395 |
| Fees for services: Legal | $241,614 |
| Fees for services: Accounting | $12,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,225,673 |
| Advertising and promotion | $3,189,327 |
| Office expenses | $2,288,986 |
| Information technology | $2,992,934 |
| Royalties | $0 |
| Occupancy | $560,532 |
| Travel | $155,641 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,034 |
| Interest | $25,728,300 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,812,886 |
| Insurance | $180,000 |
| All other expenses | $2,016,249 |
| Total functional expenses | $215,727,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,939,839 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $775,079,497 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,026,553 |
| Net Land, buildings, and equipment | $76,200,674 |
| Investments—publicly traded securities | $8,522,388 |
| Investments—other securities | $5,681,592 |
| Investments—program-related | $0 |
| Intangible assets | $4,879,883 |
| Other assets | $1,522,832,630 |
| Total assets | $2,398,163,356 |
| Accounts payable and accrued expenses | $28,029,312 |
| 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 | $0 |
| Other liabilities | $2,324,620,609 |
| Total liabilities | $2,352,649,921 |
| Net assets without donor restrictions | $45,513,435 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,398,163,356 |