Lakeview Medical Center Inc Of Rice Lake
- Assets
- $74.2m
- Revenue
- $162.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Rice Lake, WI
- Founding
- 04/1976
- Data as of
- 12/2021
- EIN
- 39-0837206
Organization Overview
Lakeview Medical Center Inc Of Rice Lake, operating under the name Marshfield Medical Center-Rice Lake, is located in Rice Lake, WI. The organization was established in 1976. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Marshfield Medical Center-Rice Lake 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, Marshfield Medical Center-Rice Lake generated $162.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $151.0m during the year ending 12/2021. While expenses have increased by 11.9% 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
WE ENRICH LIVES TO CREATE HEALTHY COMMUNITIES THROUGH ACCESSIBLE, AFFORDABLE, COMPASSIONATE HEALTH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKEVIEW MEDICAL CENTER INC. OF RICE LAKE IS A NOT-FOR-PROFIT 40-BED COMMUNITY HOSPITAL LOCATED IN RICE LAKE, WISCONSIN THAT PROVIDES MEDICAL, SURGICAL, EMERGENCY, OUTPATIENT, DIALYSIS, AMBULANCE, ONCOLOGY, HOSPICE AND HOME HEALTH SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley Groseth Chief Admin Officer Mmc-Rice Lake | 50 | $371,851 | |
Mark Bugher Chair | OfficerTrustee | 1 | $0 |
Mark Bradley Vice Chair | OfficerTrustee | 1 | $0 |
Ruwan Dissanayake MD Secretary | OfficerTrustee | 1 | $0 |
John Baltus Treasurer | OfficerTrustee | 1 | $0 |
Gordon Edwards Mchs Cfo/coo | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcis Inc Computer Consulting | 9/29/16 | $2,027,868 |
Cerner Corporation Computer Consulting | 9/29/16 | $1,909,611 |
Sightpath Medical Llc Medical Services | 9/29/16 | $356,872 |
Medical Staffing Solutions Inc Contract Med. Staff | 9/29/16 | $375,363 |
Aramark Corporation Management Services | 9/29/16 | $365,811 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $156,801 |
| Government grants | $6,861,209 |
| 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 | $7,018,010 |
| Total Program Service Revenue | $152,497,729 |
| Investment income | $28,931 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,836,187 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,384,298 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $295 |
| 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 | $57,090,744 |
| Pension plan accruals and contributions | $2,823,323 |
| Other employee benefits | $7,711,364 |
| Payroll taxes | $3,195,021 |
| 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 | $5,875,103 |
| Advertising and promotion | $5,882 |
| Office expenses | $519,210 |
| Information technology | $51,749 |
| Royalties | $0 |
| Occupancy | $1,896,180 |
| Travel | $393,510 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,345,348 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,195,924 |
| Insurance | $13,277 |
| All other expenses | $1,219,624 |
| Total functional expenses | $151,031,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,890,930 |
| Savings and temporary cash investments | $393,557 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,916,086 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,137,557 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $45,857,110 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,651 |
| Total assets | $74,199,891 |
| Accounts payable and accrued expenses | $3,017,558 |
| Grants payable | $4,853 |
| Deferred revenue | $8,247,515 |
| 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 | $39,729,309 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $50,999,235 |
| Net assets without donor restrictions | $23,200,656 |
| 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 | $74,199,891 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lakeview Medical Center Inc Of Rice Lake has recieved totaling $129,262.
| Awarding Organization | Amount |
|---|---|
Marshfield Clinic Health System Foundation Inc Marshfield, WI PURPOSE: GENERAL SUPPORT | $129,202 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $40 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $20 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Cloud Hospital St Cloud, MN | $1,702,572,092 | $1,117,982,242 |
Advocate North Side Health Network Downers Grove, IL | $946,824,836 | $901,672,521 |
The Carle Foundation Hospital Urbana, IL | $465,988,906 | $1,085,020,210 |
Regions Hospital Minneapolis, MN | $1,151,249,927 | $936,558,758 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,114,579,485 | $904,841,538 |
Central Iowa Hospital Corporation Des Moines, IA | $1,438,981,448 | $937,321,371 |
Covenant Medical Center Inc Saginaw, MI | $1,038,790,282 | $776,913,978 |
North Memorial Health Care Robbinsdale, MN | $764,114,547 | $789,881,568 |
Allegiance Health Jackson, MI | $830,742,312 | $709,583,429 |
Munson Medical Center Traverse City, MI | $1,240,001,316 | $752,883,085 |
Edward Hospital Naperville, IL | $472,054,647 | $761,222,693 |
Swedish American Hospital Rockford, IL | $973,707,288 | $637,025,862 |