Spectrum Health Systems
- Assets
- $379.7k
- Revenue
- $137.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Joseph, MI
- Founding
- 05/2001
- Data as of
- 12/2019
- EIN
- 38-3452303
Organization Overview
Spectrum Health Systems is located in Saint Joseph, MI. The organization was established in 2001. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Spectrum Health Systems 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 12/2019, Spectrum Health Systems generated $137.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.5%) each year. All expenses for the organization totaled $152.4k during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (22.3%) per year over the past 5 years. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, INSPIRE HOPE AND SAVE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKELAND SPECIALTY HOSPITAL HAS LEASED ITS FACILITIES TO OTHER MENTAL HEALTH AND SUBSTANCE ABUSE PROVIDERS TO PROVIDE THESE NEEDED SERVICES IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 2 | $0 |
Name Not Listed VP - Finance & CFO | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed President & CEO | Officer | 1 | $0 |
Name Not Listed Former Chairman | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $137,848 |
| 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 | $137,848 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $20,807 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $7,300 |
| 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 | $10,585 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,970 |
| Travel | $0 |
| 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 | $21,497 |
| Insurance | $654 |
| All other expenses | $0 |
| Total functional expenses | $152,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,166 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,032 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $379,721 |
| Accounts payable and accrued expenses | $23,424 |
| Grants payable | $0 |
| Deferred revenue | $30,691 |
| 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 | $297,663 |
| Total liabilities | $351,778 |
| Net assets without donor restrictions | $27,943 |
| 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 | $27,943 |