Lakeshore Area Radiation Oncology Center
- Assets
- $6.0m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Holland, MI
- Founding
- 01/1995
- Data as of
- 12/2021
- EIN
- 38-3067954
Organization Overview
Lakeshore Area Radiation Oncology Center is located in Holland, MI. The organization was established in 1995. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, 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. Lakeshore Area Radiation Oncology Center 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 12/2021, Lakeshore Area Radiation Oncology Center generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 0.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKESHORE AREA RADIATION ONCOLOGY CENTER IS A COOPERATIVE VENTURE BY THREE WEST MICHIGAN HOSPITALS DESIGNED TO SERVE LAKESHORE AREA RESIDENTS AND IMPROVE THE HEALTH OF THE AREA. HOLLAND COMMUNITY HOSPITAL, SPECTRUM HEALTH HOSPITALS AND ZEELAND COMMUNITY HOSPITAL COMPRISE THE MEMBERS OF THE LAKESHORE AREA RADIATION ONCOLOGY CENTER. OUR MISSION IS TO PROVIDE CONVENIENT, TECHNOLOGICALLY ADVANCED, AND COST EFFECTIVE RADIATION ONCOLOGY SERVICES IN A COMFORTABLE AND COMPASSIONATE ENVIRONMENT THAT REACHES BEYOND THE TRADITIONAL HOSPITAL WALLS. OUR COMMITMENT IS TO TREAT THOSE WHOM WE SERVE WITH DIGNITY AND RESPECT. WE INTEND TO PROVIDE INDIVIDUALIZED CARE, EDUCATIONAL RESOURCES AND SUPPORT TO OUR PATIENTS AND THEIR FAMILIES, SHARING IN THEIR SENSE OF HOPE FOR THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAKESHORE AREA RADIATION ONCOLOGY CENTER ("LAROC") PROVIDES CONVENIENT AND TECHNOLOGICALLY ADVANCED RADIATION ONCOLOGY SERVICES AND EDUCATIONAL RESOURCES TO AREA RESIDENTS. DURING THE YEAR LAROC PROVIDED 8,596 RADIATION ONCOLOGY TREATMENTS ON AN OUTPATIENT BASIS TO 352 PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Varian Medical Systems Maintenance Contract - Radiation | 12/30/21 | $217,420 |
Spectrum Health Management Services | 12/30/21 | $1,941,139 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $657,256 |
| 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 | $657,256 |
| Total Program Service Revenue | $5,197,638 |
| Investment income | $12,636 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,459 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,882,989 |
| 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 | $0 |
| Fees for services: Other | $1,904,482 |
| Advertising and promotion | $400 |
| Office expenses | $41,621 |
| Information technology | $162,577 |
| Royalties | $0 |
| Occupancy | $455,424 |
| Travel | $2,241 |
| 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 | $220,457 |
| Insurance | $38,389 |
| All other expenses | $0 |
| Total functional expenses | $2,888,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,687,475 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,861 |
| 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 | $59,022 |
| Net Land, buildings, and equipment | $1,701,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $350,340 |
| Total assets | $5,967,834 |
| Accounts payable and accrued expenses | $82,440 |
| Grants payable | $0 |
| Deferred revenue | $36,304 |
| 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 | $0 |
| Total liabilities | $118,744 |
| Net assets without donor restrictions | $5,849,090 |
| 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 | $5,967,834 |
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