Lake Region Healthcare Corporation

Organization Overview

Lake Region Healthcare Corporation is located in Fergus Falls, MN. The organization was established in 1953. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2021, Lake Region Healthcare Corporation employed 984 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Region Healthcare Corporation 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, Lake Region Healthcare Corporation generated $142.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $139.0m during the year ending 09/2021. While expenses have increased by 1.9% 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.

Since 2020, Lake Region Healthcare Corporation has awarded 13 individual grants totaling $229,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

WE PARTNER TO ENRICH LIFE THROUGH HEALTH.

Describe the Organization's Program Activity:

LAKE REGION HEALTHCARE CORPORATION IS A NOT-FOR-PROFIT PROVIDER OF HEALTH CARE SERVICES OPERATING A 108-BED HOSPITAL COMPRISED OF A 94-BED ACUTE HOSPITAL, A 14-BED PSYCHIATRIC UNIT, AND MULTIPLE CLINIC SITES. OUR PURPOSE IS TO MEET THE HEALTH CARE NEEDS OF THE PEOPLE IN WEST CENTRAL MINNESOTA. WE WILL CREATE AN EXCEPTIONAL, INNOVATIVE, AND PERSONAL HEALTHCARE EXPERIENCE THAT ALLOWS PEOPLE TO EXCEL AND OUR COMMUNITIES TO THRIVE. OUR CORE VALUES INCLUDE EXCELLENCE, PERSON-CENTERED, RESPECT, INTEGRITY, INNOVATION, COLLABORATION & STEWARDSHIP. LAKE REGION HEALTHCARE CORPORATION IS A PROVIDER OF QUALITY HEALTH CARE SERVICES, AS NOTED BY OUR ACCREDITATION BY THE JOINT COMMISSION. SERVICES THAT LAKE REGION HEALTHCARE PROVIDES INCLUDE MEDICAL/SURGICAL, PEDS, OB GYN, ICCU, RADIOLOGY/INTERVENTIONAL RADIOLOGY, OCCUPATIONAL THERAPY, PHYSICAL THERAPY, SPEECH THERAPY, RESPIRATORY CARE, SOCIAL WORK, SURGERY, ONCOLOGY, BIRTHING SUITES, CARDIAC REHAB/ECP, EMERGENCY SERVICES, COMMUNITY WELLNESS, AND LABORATORY.


LAKE REGION HEALTHCARE OFFERS CLINICAL SERVICES IN FOUR COMMUNITIES AND A WALK-IN CLINIC. SPECIALTIES OFFERED THROUGH CLINIC SERVICES INCLUDE CARDIOLOGY, OB GYN, PEDIATRICS, OPHTHALMOLOGY, FAMILY MEDICINE, INTERNAL MEDICINE, UROLOGY, DERMATOLOGY, ENT, ALLERGY, AUDIOLOGY, PODIATRY, PULMONOLOGY, SPORTS MEDICINE, SURGERY, AND ORTHOPEDICS.


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Board, Officers & Key Employees

Name (title)Compensation
Kent Mattson
CEO
$434,466
Kyle Richards
Former CEO
$375,000
Fritz Karsnia
Anesthesia Director
$278,211
Camie Patterson
CFO
$263,799
Jeffery Olson
Crna
$252,994
Kyle Ellison
Crna
$250,120

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Lake Region Medical Group
Physician Services
$2,417,956
Virtual Radiologic Professionals
Radiology Services
$573,296
Mayo Collaborative Services
Lab Services
$1,467,584
Change Healthcare
It Services
$560,353
Sodexo Ctm Inc
Bio-medical Services
$523,300
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $341,163
All other contributions, gifts, grants, and similar amounts not included above$672,392
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,013,555
Total Program Service Revenue$129,751,270
Investment income $1,053,061
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $2,443,282
Net Gain/Loss on Asset Sales $612,012
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $142,320,995

Grants Awarded

Over the last fiscal year, Lake Region Healthcare Corporation has awarded $41,300 in support to 3 organizations.

Grant RecipientAmount

WEST CENTRAL INITIATIVE

Org PageRecipient Profile

Fergus Falls, MN

PURPOSE: COMMUNITY BENEFIT

$20,000

GREATER FERGUS FALLS CORPORATION

Org PageRecipient Profile

Fergus Falls, MN

PURPOSE: COMMUNITY BENEFIT

$15,000

FERGUS FALLS 544 EDUCATION FOUNDATION

Org PageRecipient Profile

Fergus Falls, MN

PURPOSE: COMMUNITY BENEFIT

$6,300
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Lake Region Healthcare Corporation has recieved totaling $94.

Awarding OrganizationAmount
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$94
View Grant Recipient Profile

Peer Organizations

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