Lafayette Health Ventures Inc
- Assets
- $10.0m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 420
- Location
- Lafayette, LA
- Founding
- 02/2014
- Data as of
- 12/2020
- EIN
- 72-1006966
Organization Overview
Lafayette Health Ventures Inc is located in Lafayette, LA. The organization was established in 2014. 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 12/2021, Lafayette Health Ventures Inc employed 420 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lafayette Health Ventures 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 12/2020, Lafayette Health Ventures Inc generated $12.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $17.0m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (16.5%) per year over the past 6 years. 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
OPERATE BUSINESSES (PHYSICIAN PRACTICES) THAT RETURN VALUE IN SUPPORT OF THE MISSION OF LAFAYETTE GENERAL MEDICAL CENTER (LGMC). LGMC'S MISSION IS TO PROVIDE MEDICAL CARE TO RESTORE, MAINTAIN & IMPROVE THE HEALTH OF THE PEOPLE IN THE COMMUNITY WE SERVE, REGARDLESS OF THE PATIENTS' ABILITY TO PAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LHVI'S PROGRAM SERVICE IS AS A COMMUNITY MEDICAL CARE PROVIDER. LHVI OPERATES BUSINESSES THAT RETURN VALUE IN SUPPORT OF THE MISSION OF LAFAYETTE GENERAL MEDICAL CENTER, A NON-PROFIT HOSPITAL. LHVI HAS THE FOLLOWING SERVICE LINES: FAMILY MEDICINE, HEMATOLOGY/ONCOLOGY, INTERNAL MEDICINE, INTERVENTIONAL CARDIOLOGY, NEUROLOGY SERVICES, NEUROSURGERY, RADIATION ONCOLOGY, ORTHOPEADICS, TELEMEDICINE, AND URGENT CARE CLINICS. THROUGH THE PRACTICE OF THESE SERVICE LINES WE HELP TO RESTORE, MAINTAIN, AND IMPROVE THE HEALTH OF THE PEOPLE IN THE COMMUNITIES THAT WE SERVE; THIS IS LGMC'S MISSION WHICH WE FULLY SUPPORT.
THE REVENUE FROM THESE SERVICES IS $190,365,093. SOME THESE SERVICES WERE NOT FULLY COMPENSATED. THESE INCLUDE MEDICAID/MEDICARE CONTRACTUALS WITH $73,380,371 OF UNCOMPENSATED SERVICES, OTHER CONTRACTUALS WITH $54,024,775 OF UNCOMPENSATED SERVICES AND BAD DEBTS OF $3,201,262. THE NET REVENUES OF THE SERVICES PROVIDED WERE $59,758,685.
LHVI MAINTAINS A PROACTIVE APPROACH TO EDUCATION AND WELLNESS IN OUR COMMUNITY. ANNUALLY, LHVI PROVIDES SEVERAL EDUCATIONAL SEMINARS AIMED AT EDUCATING THE PUBLIC ON PREVENTATIVE CARE AND MAINTAINING A HEALTHY LIFESTYLE. SOME OF THESE ACTIVITIES INCLUDE: VOLUNTEERING FOR THE ZYDECO MARATHON, HELD COVID TESTING CLINICS (AS WELL AS FLU), AND HELPED STAFF THE COVID VACCINE CLINICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick W Gandy Board Member/chair | OfficerTrustee | 1 | $0 |
Kimberly H Dooley Chief Administrative Officer/board Member - Non Vo | Trustee | 40 | $0 |
Michael Alexander MD Board Member/employed Physician | Trustee | 41 | $0 |
Michael S Cain MD Board Member/employed Physician | Trustee | 41 | $0 |
Roger Mattke Board Member - Non Voting | Trustee | 1 | $0 |
Brian E Etier Jr Physician | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hayes Locums Llc Provider Services | 12/30/21 | $720,714 |
Locumtenenscom Llc Provider Services | 12/30/21 | $440,908 |
Karen Bowen Roden Md Physician Services | 12/30/21 | $220,023 |
Delta Locum Tenens Llc Provider Services | 12/30/21 | $197,482 |
Anesthesia Business Consultants Llc Anesthesia Services | 12/30/21 | $161,457 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $579,686 |
| Investment income | $489 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,572 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,281,846 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,635,573 |
| Pension plan accruals and contributions | $444,813 |
| Other employee benefits | $536,183 |
| Payroll taxes | $354,459 |
| Fees for services: Management | $164,974 |
| 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 | $0 |
| Advertising and promotion | $3,429 |
| Office expenses | $2,292,451 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $612,576 |
| Travel | $28,934 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,485 |
| Insurance | $744 |
| All other expenses | $0 |
| Total functional expenses | $17,009,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,118 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,470,216 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $429,524 |
| Inventories for sale or use | $13,713 |
| Prepaid expenses and deferred charges | $636,043 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,803,010 |
| Other assets | $19,114 |
| Total assets | $10,029,024 |
| Accounts payable and accrued expenses | $4,573,115 |
| Grants payable | $0 |
| Deferred revenue | $1,690,008 |
| 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 | $45,208,681 |
| Total liabilities | $51,471,804 |
| 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 | -$41,442,780 |
Grants Awarded
Over the last fiscal year, Lafayette Health Ventures Inc has awarded $10,909 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Kennesaw, GA PURPOSE: DONATION | $5,455 |
Lafayette, LA PURPOSE: DONATION | $5,454 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lafayette Health Ventures Inc has recieved totaling $14,291,554.
| Awarding Organization | Amount |
|---|---|
Lafayette General Health System Inc Lafayette, LA PURPOSE: AFFILIATE SUPPORT | $14,291,554 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rush Health Systems Inc Meridian, MS | $260,240,483 | $58,741,717 |
Independent Healthcare Management Inc Magee, MS | $20,184,780 | $47,802,744 |
St Joseph Physician Associates Bryan, TX | $5,477,758 | $42,860,860 |
Texas Health Harris Methodist Hospital Azle Azle, TX | $14,660,060 | $52,323,132 |
Lafayette General Health System Inc Lafayette, LA | $1,225,055,095 | $38,873,681 |
Texas Childrens Urgent Care Bellaire, TX | $20,378,650 | $26,228,045 |
Pontotoc Health Services Inc Tupelo, MS | $22,119,690 | $29,444,991 |
St Bernards Healthcare Jonesboro, AR | $335,856,047 | $24,639,089 |
Mainline Health Systems Inc Dermott, AR | $29,379,904 | $27,648,337 |
Family Health Care Clinic Inc Jackson, MS | $11,024,389 | $20,801,321 |
Mississippi Bapt Health Systems Inc Jackson, MS | $17,594,565 | $17,908,951 |
Lafayette Health Ventures Inc Lafayette, LA | $10,029,024 | $12,281,846 |