Lmw Healthcare Inc
- Assets
- $94.7m
- Revenue
- $83.1m
- Investments
- $4.8m
- Employees
- 838
- Location
- New London, CT
- Founding
- 05/2013
- Data as of
- 09/2020
- EIN
- 46-0543230
Organization Overview
Lmw Healthcare Inc, operating under the name Westerly Hospital, is located in New London, CT. The organization was established in 2013. 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, Westerly Hospital employed 838 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westerly Hospital 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 09/2020, Westerly Hospital generated $83.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $104.6m during the year ending 09/2020. While expenses have increased by 7.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MEDICAL CARE IN THE WESTERLY, RHODE ISLAND COMMUNITY AND SURROUNDING TOWNS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Johnston Registered Nurse | 40 | $182,179 | |
Karl Ng Clinical Pharmacist | 40 | $169,622 | |
Sheila Sandoval Clinical Pharmacist | 40 | $158,849 | |
Julia Smith Registered Nurse | 40 | $155,907 | |
Emily Flynn Clinical Pharmacist | 40 | $144,850 | |
Maureen Anderson Assistant Secretary | Officer | 2 | $16,246 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vizient Inc Health Care Services | 9/29/21 | $1,771,083 |
Unitex Textile Rental Inc Uniform Laundering | 9/29/21 | $270,492 |
Med One Capital Funding Llc Equipment Leasing Services | 9/29/21 | $289,898 |
Quest Diagnostics Lab Services | 9/29/21 | $432,629 |
Payette Associates Inc Architectural Services | 9/29/21 | $118,907 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $992,822 |
| Investment income | $204,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $128,431 |
| Net Gain/Loss on Asset Sales | $64,632 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,091,800 |
| 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. | $44,447 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,041,557 |
| Pension plan accruals and contributions | $988,050 |
| Other employee benefits | $5,795,320 |
| Payroll taxes | $2,808,711 |
| Fees for services: Management | $1,138,995 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,430 |
| Fees for services: Lobbying | $24,657 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,016 |
| Fees for services: Other | $18,084,307 |
| Advertising and promotion | $108,330 |
| Office expenses | $557,758 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,624,599 |
| Travel | $38,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,361 |
| Interest | $0 |
| Payments to affiliates | $2,943,108 |
| Depreciation, depletion, and amortization | $5,794,934 |
| Insurance | $1,117,974 |
| All other expenses | $0 |
| Total functional expenses | $104,644,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,690,110 |
| Savings and temporary cash investments | $19,160 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,174,782 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,571,988 |
| Prepaid expenses and deferred charges | $606,047 |
| Investments—publicly traded securities | $9,616,174 |
| Investments—other securities | $4,754,346 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,275,733 |
| Total assets | $94,690,843 |
| Accounts payable and accrued expenses | $15,615,498 |
| 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 | $67,300,927 |
| Total liabilities | $82,916,425 |
| 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 | $11,774,418 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lmw Healthcare Inc has recieved totaling $41,523.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: GENERAL OPERATING; PUBLIC HEALTH; PROGRAM SUPPORT | $41,523 |
Endowment Analysis
| Beg. Balance | $10,502,471 |
| Earnings | $1,016,614 |
| Net Contributions | $227,456 |
| Other Expense | $499,456 |
| Ending Balance | $11,247,085 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Saint Francis Hospital And Medical Center Hartford, CT | $1,654,893,576 | $997,837,414 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Good Samaritan Hosptial Medical Center West Islip, NY | $1,039,152,790 | $802,832,775 |
South Shore Hospital Inc South Weymouth, MA | $826,172,591 | $754,117,212 |
Bridgeport Hospital Bridgeport, CT | $853,709,766 | $729,975,555 |
White Plains Hospital Medical Center White Plains, NY | $1,287,581,438 | $833,931,324 |
Danbury Hospital Danbury, CT | $968,428,982 | $798,413,805 |