Prairie Lakes Health Care System Inc
- Assets
- $435.6m
- Revenue
- $139.2m
- Investments
- $5.7m
- Employees
- 751
- Location
- Watertown, SD
- Founding
- 04/1987
- Data as of
- 05/2021
- EIN
- 46-0391067
Organization Overview
Prairie Lakes Health Care System Inc is located in Watertown, SD. The organization was established in 1987. 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 05/2023, Prairie Lakes Health Care System Inc employed 751 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prairie Lakes Health Care System Inc 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 05/2021, Prairie Lakes Health Care System Inc generated $139.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $110.9m during the year ending 05/2021. While expenses have increased by 4.1% 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.
Since 2015, Prairie Lakes Health Care System Inc has awarded 64 individual grants totaling $10,753,687. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HIGH QUALITY, AFFORDABLE & COMPASSIONATE HEALTHCARE SERVICES FOR THE PEOPLE IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRAIRIE LAKES HEALTH CARE SYSTEM SERVES TEN COUNTIES IN NORTHEASTERN SOUTH DAKOTA AND WESTERN MINNESOTA. IT IS COMMITTED TO PROVIDING ACCESSIBLE, HIGH QUALITY, COST-EFFECTIVE HEALTHCARE SERVICES. 33 SPECIALTY PHYSICIANS HAVE BEEN RECRUITED OVER THE PAST DECADE TO BUILD NEW SERVICES AND BETTER SERVE THE COMMUNITY. THIS TOTAL INCLUDES THE RECENT ADDITION OF 3 ORTHOPEDIC PHYSICIANS. ORTHOPEDICS WAS ADDED AS A SERVICE LINE IN AUGUST OF 2022. JANUARY OF 2023 A PAIN SCIENCE CENTER WAS ADDED AS ANOTHER SERVICE AVAILABLE TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Howard MD Physician | 40 | $1,142,455 | |
Greg Gerrish MD Physician | 40 | $1,056,309 | |
Jacob Schaeffer MD Physician/director | 40 | $1,031,477 | |
Jeffrey Smith MD Physician | 40 | $909,759 | |
Salem Maaliki MD Physician | 40 | $764,874 | |
D Adam Popp CFO | Officer | 40 | $295,305 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medical Soluctions Locum Coverage | 5/30/23 | $1,645,652 |
Pem Advisors Llc Interim Ceo Coverage | 5/30/23 | $690,467 |
Foxhire Llc Locum Coverage | 5/30/23 | $654,776 |
Ghaith Aboud Md Locum Physician | 5/30/23 | $481,600 |
Weatherby Locums Locum Coverage | 5/30/23 | $388,877 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,449,979 |
| Investment income | $1,461,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,154,949 |
| Net Gain/Loss on Asset Sales | $17,897,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $139,220,491 |
| 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. | $1,802,237 |
| Compensation to disqualified persons | $726,625 |
| Other salaries and wages | $45,505,663 |
| Pension plan accruals and contributions | $883,358 |
| Other employee benefits | $3,388,480 |
| Payroll taxes | $2,963,259 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,079 |
| Fees for services: Accounting | $145,283 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,292,040 |
| Fees for services: Other | $8,253,287 |
| Advertising and promotion | $469,847 |
| Office expenses | $1,646,187 |
| Information technology | $955,430 |
| Royalties | $0 |
| Occupancy | $948,391 |
| Travel | $404,702 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $196,899 |
| Interest | $889,984 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,901,801 |
| Insurance | $452,004 |
| All other expenses | $0 |
| Total functional expenses | $110,908,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,086 |
| Savings and temporary cash investments | $21,791,241 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,540,954 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $346,220 |
| Inventories for sale or use | $3,290,632 |
| Prepaid expenses and deferred charges | $1,320,167 |
| Investments—publicly traded securities | $291,213,271 |
| Investments—other securities | $5,700,030 |
| Investments—program-related | $0 |
| Intangible assets | $3,409,614 |
| Other assets | $20,714,588 |
| Total assets | $435,632,850 |
| Accounts payable and accrued expenses | $14,916,467 |
| Grants payable | $0 |
| Deferred revenue | $2,905,618 |
| Tax-exempt bond liabilities | $27,665,874 |
| 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 | $7,803,521 |
| Total liabilities | $53,291,480 |
| Net assets without donor restrictions | $0 |
| 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 | $382,341,370 |
Grants Awarded
Over the last fiscal year, Prairie Lakes Health Care System Inc has awarded $3,156,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
SANFORD CLINIC PURPOSE: SUPPORT OF FAMILY PLANNING CLINIC. | $15,000 |
WATERTOWN CARES PURPOSE: HOUSING SUPPORT | $15,000 |
LAKE AREA TECHNICAL INSTITUTE FOUNDATION PURPOSE: SCHOLARSHIPS | $38,500 |
HUMAN SERVICE AGENCY PURPOSE: DETOX UNIT SUPPORT | $30,000 |
WATERTOWN AREA UNITED WAY PURPOSE: SUPPORT OF UNITED WAY AGENCIES | $17,500 |
WATERTOWN DEVELOPMENT CORP PURPOSE: SUPPORT NEW BUSINESS DEVELOPMENT | $40,000 |