Louisiana State University Of Medicine In New Orleans
- Assets
- $110.4m
- Revenue
- $168.1m
- Investments
- $0.0
- Employees
- 202
- Location
- New Orleans, LA
- Founding
- 09/1996
- Data as of
- 06/2023
- EIN
- 72-1304948
Organization Overview
Louisiana State University Of Medicine In New Orleans, operating under the name Lsu Healthcare Network, is located in New Orleans, LA. The organization was established in 1996. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 06/2023, Lsu Healthcare Network employed 202 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lsu Healthcare Network 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 06/2023, Lsu Healthcare Network generated $168.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $159.4m during the year ending 06/2023. While expenses have increased by 4.5% per year over the past 8 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
PRIVATE, TAX-EXEMPT FACULTY GROUP PRACTICE THAT WAS ESTABLISHED TO SUPPORT (CONT'D ON SCH O)THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL MISSIONS OF THE LSU HEALTH SCIENCES CENTER IN NEW ORELANS, PARTICULARLY AS THEY RELATE TO ITS SCHOOLS OF MEDICINE, ALLIED HEALTH PROFESSIONS, DENTISTRY, NURSING, AND PUBLIC HEALTH, IN THEIR CLINICAL PRACTICE FUNCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCEMENT FUND PAYMENTS PAID TO THE LA STATE UNIVERSITY HEALTH SCIENCES CENTER HELPED SUSTAIN FACULTY TEACHING PROGRAMS, RESIDENT TRAINING, AND MEDICAL RESEARCH. THE FACULTY GROUP PRACTICE ALSO MANAGES COMMUNITY OUTREACH CLINICS SUCH AS THE NEW ORLEANS MUSICIAN'S CLINIC THAT PROVIDES DISCOUNTED CARE TO THE CITY'S MUSICIANS, BASED ON NEED. CLINICAL CARE TO THE COMMUNITY IS PROVIDED WITHOUT REGARD TO THE ABILITY TO PAY OR THE POSSESSION OF INSURANCE. DURING THE YEAR ENDED JUNE 30, 2023, CHARITY CHARGES ENTERED INTO THE BILLING SYSTEM AND ADJUSTED OFF TOTALED APPROXIMATELY $11.9 MILLION WHICH REPRESENTS 3.4% OF THE TOTAL GROSS CHARGES FOR THE FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Nelson MD President | OfficerTrustee | 0.5 | $0 |
Jack Christian Winters MD CEO | OfficerTrustee | 0.5 | $0 |
Mark H Townsend MD Lsuhsc Representative | Trustee | 0.5 | $0 |
Robert D Zura Lsuhsc Representative | Trustee | 0.5 | $0 |
Frank Smart MD Lsuhsc Representative | Trustee | 0.5 | $0 |
Jayne S Weiss MD Lsuhsc Representative | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Childrens Hospital Billing Services | 6/29/23 | $3,488,937 |
Acs Acadiana Computer Systems Billing Company | 6/29/23 | $7,524,547 |
Lsuhsc-new Orleans Healthcare Services | 6/29/23 | $2,832,269 |
R1 Medical Consulting Inc Consulting Services | 6/29/23 | $531,961 |
Besse Medical Supply Drug And Device Services | 6/29/23 | $515,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $165,644,224 |
| Investment income | $332,748 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $133,344 |
| Net Gain/Loss on Asset Sales | $1,955,014 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $168,065,330 |
| 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. | $186,696 |
| Compensation of current officers, directors, key employees. | $24,270 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,829,859 |
| Pension plan accruals and contributions | $280,565 |
| Other employee benefits | $750,721 |
| Payroll taxes | $514,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,808 |
| Fees for services: Accounting | $243,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $700,470 |
| Fees for services: Other | $12,867,498 |
| Advertising and promotion | $60,617 |
| Office expenses | $662,275 |
| Information technology | $319,921 |
| Royalties | $0 |
| Occupancy | $10,631 |
| Travel | $8,009 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,671 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $383,430 |
| Insurance | $360,604 |
| All other expenses | $4,830,370 |
| Total functional expenses | $159,426,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,263,204 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,442,502 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $90,663 |
| Prepaid expenses and deferred charges | $385,377 |
| Net Land, buildings, and equipment | $848,926 |
| Investments—publicly traded securities | $74,082,549 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $475,452 |
| Other assets | $6,849,328 |
| Total assets | $110,438,001 |
| Accounts payable and accrued expenses | $2,728,896 |
| 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 | $10,675,730 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,887,971 |
| Total liabilities | $36,292,597 |
| Net assets without donor restrictions | $74,145,404 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $110,438,001 |