Lakeview Health Foundation
- Assets
- $8.9m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 07/1977
- Data as of
- 12/2021
- EIN
- 41-1386635
Organization Overview
Lakeview Health Foundation is located in Minneapolis, MN. The organization was established in 1977. 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. Lakeview Health Foundation 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, Lakeview Health Foundation generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 0.3% 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
TO MEET THE HEALTHCARE NEEDS OF INDIVIDUALS, FAMILIES AND COMMUNITIES OF THE ST. CROIX VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O - EXEMPT PURPOSE AND ACHIEVEMENTS FOR A DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theodore T Wegleitner Director & President (jan-June) | OfficerTrustee | 0.5 | $0 |
Chris Jesmer Director & Vice Chair | OfficerTrustee | 0.73 | $0 |
Ray Marshall Director & Chair | OfficerTrustee | 0.96 | $0 |
Nancy L Evert Secretary | Officer | 0.5 | $0 |
Paul L Erickson Excecutive Director | Officer | 47.5 | $0 |
Brandi Lunneborg Director & President (dec) | Officer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,500 |
| Related organizations | $41,709 |
| Government grants | $24,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,414,895 |
| Noncash contributions included in lines 1a–1f | $15,805 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,517,104 |
| Total Program Service Revenue | $94,903 |
| Investment income | $114,245 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,365 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,731,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $96,972 |
| Grants and other assistance to domestic individuals. | $31,084 |
| 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 | $1,002,388 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $186,477 |
| 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 | $119,626 |
| Advertising and promotion | $103,886 |
| Office expenses | $14,773 |
| Information technology | $51,988 |
| Royalties | $0 |
| Occupancy | $88,829 |
| Travel | $25,269 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,287 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $783 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,874,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,058,295 |
| Savings and temporary cash investments | $3,673,039 |
| Pledges and grants receivable | $75,513 |
| Accounts receivable, net | $47,319 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,854,166 |
| Accounts payable and accrued expenses | $300,126 |
| 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 | $0 |
| Total liabilities | $300,126 |
| Net assets without donor restrictions | $941,852 |
| Net assets with donor restrictions | $7,612,188 |
| 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 | $8,854,166 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Lakeview Health Foundation has recieved totaling $227,080.
| Awarding Organization | Amount |
|---|---|
St Croix Valley Foundation Hudson, WI PURPOSE: GENERAL OPERATING | $152,571 |
Group Health Plan Inc Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $39,709 |
Americas Charities Chantilly, VA PURPOSE: GENERAL SUPPORT | $16,944 |
United Way Of Washington County East Inc Stillwater, MN PURPOSE: PROGRAM OPERATING COST | $9,856 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $8,000 |
Endowment Analysis
| Beg. Balance | $7,222,540 |
| Earnings | $94,903 |
| Net Contributions | $2,372,577 |
| Other Expense | $1,949,776 |
| Grants | $128,056 |
| Ending Balance | $7,612,188 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Prairie Ridge Hospital And Health Services Inc Elbow Lake, MN | $34,170,156 | $18,758,462 |
Christian Unity Hospital Corporation Grafton, ND | $38,113,224 | $23,246,956 |
Madelia Health Madelia, MN | $18,855,648 | $18,531,553 |
Alegent Health Mercy Hospital Corning, IA | $35,243,438 | $19,692,764 |
Aspirus Stanley Hospital & Clinics Inc Wausau, WI | $10,927,612 | $20,966,048 |
Kittson Memorial Hospital Association Hallock, MN | $15,018,635 | $22,486,843 |
Lake View Memorial Hospital Inc Two Harbors, MN | $43,364,236 | $20,715,565 |
Hazen Memorial Hospital Association Hazen, ND | $41,240,273 | $17,593,721 |
Lakewood Health Center Baudette, MN | $20,759,689 | $14,544,176 |
P R Health Corporation Park River, ND | $28,455,136 | $24,744,336 |
Northern Pines Medical Center Aurora, MN | $24,849,895 | $19,051,893 |