Lakewood Health System
- Assets
- $162.8m
- Revenue
- $148.0m
- Investments
- $1.5m
- Employees
- 1,094
- Location
- Staples, MN
- Founding
- 02/1997
- Data as of
- 12/2023
- EIN
- 41-1842965
Organization Overview
Lakewood Health System is located in Staples, MN. The organization was established in 1997. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2023, Lakewood Health System employed 1,094 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakewood Health System 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 12/2023, Lakewood Health System generated $148.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $144.7m during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY, PERSONALIZED HEALTHCARE FOR A LIFETIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSPITAL AND CLINICS -LAKEWOOD HEALTH SYSTEM (THE ORGANIZATION) OPERATES A 25-BED CRITICAL ACCESS HOSPITAL PROVIDING INPATIENT, OUTPATIENT, EMERGENCY, AND OTHER SPECIALTY HEALTH CARE SERVICES, INCLUDING A 10-BED GERIATRIC BEHAVIORAL HEALTH UNIT IN STAPLES, MINNESOTA. THE ORGANIZATION ALSO OPERATES RURAL HEALTH CLINICS LOCATED IN STAPLES, MOTLEY, PILLAGER, EAGLE BEND, AND BROWERVILLE, MINNESOTA. PHYSICIANS, PHYSICIAN'S ASSISTANTS, AND NURSE PRACTITIONERS PROVIDE CLINIC PATIENTS WITH PRIMARY CARE AND OTHER HEALTH CARE SERVICES. IN ADDITION, THE ORGANIZATION OPERATES A DERMATOLOGY CLINIC IN SARTELL, MINNESOTA.THE ORGANIZATION PROVIDED FOR 3,554 INPATIENT HOSPITAL AND SWING-BED DAYS, 178 ICU DAYS, 2,352 INPATIENT GERIATRIC BEHAVIORAL HEALTH UNIT DAYS, 97,886 MEDICAL AND MENTAL HEALTH RURAL HEALTH CLINIC VISITS AND 10,705 DERMATOLOGY CLINIC VISITS.
SENIOR SERVICES -THE ORGANIZATION OPERATES A 100-BED, MEDICARE-CERTIFIED SKILLED NURSING FACILITY IN STAPLES, MINNESOTA, THAT PROVIDES LONG-TERM AND REHABILITATIVE CARE TO RESIDENTS. IN SEPTEMBER 2021, 13 BEDS WERE PUT ON LAYAWAY STATUS, REDUCING THE TOTAL SKILLED NURSING BEDS IN SERVICE FROM 100 TO 87. IN ADDITION TO SKILLED NURSING CARE, THE ORGANIZATION ALSO OPERATES HOME HEALTH CARE AND HOSPICE PROGRAMS TO PROVIDE NURSING CARE AND ASSISTANCE AT THE PATIENT'S RESIDENCE. ASSISTED LIVING AND INDEPENDENT LIVING FACILITIES OPERATED BY THE ORGANIZATION, LOCATED IN STAPLES, MINNESOTA, PROVIDE COMBINATIONS OF HEALTH-RELATED AND SUPPORTIVE SERVICES FOR TENANTS. THE ORGANIZATION PROVIDED FOR 27,403 RESIDENT DAYS IN THE NURSING HOME AND 812 ASSISTED LIVING UNIT RENTED MONTHS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Bjerga CEO & President | OfficerTrustee | 40 | $486,257 |
Curt Mcilravy Chairman | OfficerTrustee | 1 | $5,408 |
Jef Cichos Vice Chairman | OfficerTrustee | 1 | $3,796 |
Kevin Nelson Treasurer | OfficerTrustee | 1 | $1,872 |
Mary Theurer Secretary | OfficerTrustee | 1 | $4,004 |
Michael Hudalla MD Board Member (thru 06/23) | Trustee | 1 | $624 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lakewood Clinic Pa Physician Services | 12/30/23 | $15,961,240 |
Ochin Software Build Services | 12/30/23 | $3,914,941 |
Big Stone Therapies Therapy Services | 12/30/23 | $2,970,252 |
Infinite Health Collaborative Tco Orthopedic Services | 12/30/23 | $1,465,791 |
Hpm Services Llc Pain Management Services | 12/30/23 | $1,135,860 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $46,373 |
| Related organizations | $0 |
| Government grants | $1,442,054 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,799 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,594,226 |
| Total Program Service Revenue | $144,739,988 |
| Investment income | $666,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,762 |
| Net Income from Fundraising Events | $9,693 |
| Net Income from Gaming Activities | $2,385 |
| Net Income from Sales of Inventory | $49,622 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $148,043,887 |
| 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. | $2,232,291 |
| Compensation of current officers, directors, key employees. | $2,232,291 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,716,036 |
| Pension plan accruals and contributions | $2,011,356 |
| Other employee benefits | $10,092,457 |
| Payroll taxes | $3,561,366 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,060 |
| Fees for services: Accounting | $166,908 |
| Fees for services: Lobbying | $1,091 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,693,741 |
| Advertising and promotion | $509,340 |
| Office expenses | $20,700,324 |
| Information technology | $774,573 |
| Royalties | $0 |
| Occupancy | $5,293,870 |
| Travel | $522,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $182,699 |
| Interest | $1,215,580 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,250,443 |
| Insurance | $544,335 |
| All other expenses | $2,539,055 |
| Total functional expenses | $144,660,160 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,112 |
| Savings and temporary cash investments | $16,916,606 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,864,729 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $277,077 |
| Inventories for sale or use | $3,130,833 |
| Prepaid expenses and deferred charges | $3,531,878 |
| Net Land, buildings, and equipment | $70,352,239 |
| Investments—publicly traded securities | $38,206,204 |
| Investments—other securities | $1,540,606 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $162,825,284 |
| Accounts payable and accrued expenses | $12,728,513 |
| Grants payable | $0 |
| Deferred revenue | $630,373 |
| Tax-exempt bond liabilities | $2,469,779 |
| Escrow or custodial account liability | $33,094 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $39,607,702 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,957,451 |
| Total liabilities | $58,426,912 |
| Net assets without donor restrictions | $102,831,763 |
| Net assets with donor restrictions | $1,566,609 |
| 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 | $162,825,284 |