Sky Lakes Medical Center Inc
- Assets
- $459.9m
- Revenue
- $668.0m
- Investments
- $107.6m
- Employees
- 1,837
- Location
- Klamath Falls, OR
- Founding
- 02/1967
- Data as of
- 09/2020
- EIN
- 93-0508781
Organization Overview
Sky Lakes Medical Center Inc is located in Klamath Falls, OR. The organization was established in 1967. 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, Sky Lakes Medical Center Inc employed 1,837 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sky Lakes Medical Center 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 09/2020, Sky Lakes Medical Center Inc generated $668.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $646.3m during the year ending 09/2020. While expenses have increased by 2.1% 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.
Since 2015, Sky Lakes Medical Center Inc has awarded 59 individual grants totaling $1,664,675. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SKY LAKES MEDICAL CENTER WILL CONTINUALLY STRIVE TO REDUCE THE BURDEN OF ILLNESS, INJURY AND DISABILITY, AND TO IMPROVE THE HEALTH, SELF- RELIANCE AND WELL-BEING OF THE PEOPLE WE SERVE. WE WILL DEMONSTRATE THAT WE ARE COMPETENT AND CARING IN ALL WE DO. WE SHALL ENDEAVOR TO BE SO SUCCESSFUL IN THIS EFFORT THAT WE WILL BECOME A PREEMINENT HEALTHCARE CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT CARE - ACUTE INPATIENT CARE FOR ADULT AND PEDIATRIC PATIENTS; A LEVEL III TRAUMA EMERGENCY DEPARTMENT; SERVICES RELATED TO CHILD ABUSE, HOME CARE, PHYSICAL, OCCUPATIONAL AND SPEECH THERAPIES; A CANCER TREATMENT CENTER WITH BOTH MEDICAL AND RADIATION ONCOLOGY; AND DIAGNOSTIC TESTING (LABORATORY AND DIAGNOSTIC IMAGING) AVAILABILITY IN SETTINGS AROUND THE COMMUNITY.UNCOMPENSATED CARE - CHARGES WRITTEN OFF UNDER OUR BROAD-REACHING CHARITY CARE POLICY TOTALED $8,499,500 (1.2% OF CHARGES). IN ADDITION TO CHARITY CARE WRITEOFFS, CHARGES WRITTEN OFF AS BAD DEBT TOTALED $8,332,601 (1.2% OF CHARGES).EDUCATIONAL SUPPORT - SKY LAKES MEDICAL CENTER COMMITS SIGNIFICANT DOLLARS AND HOURS TO BENEFIT EDUCATIONAL EFFORTS IN AND FOR THE COMMUNITY. AMONG THOSE COMMITMENTS ARE THE FOLLOWING: OREGON HEALTH & SCIENCE UNIVERSITY AFFILIATED FAMILY PRACTICE RESIDENCY PROGRAM AND CLINIC; AN RN I TRAINING PROGRAM TO INCLUDE 6 MONTHS OF ONE-ON-ONE SUPERVISED ORIENTATION TO THE INPATIENT CARE AREAS; AWARDING OF SCHOLARSHIPS TO COMMUNITY MEMBERS AND/OR EMPLOYEES IN HEALTHCARE- RELATED PROGRAMS; A HOSPITAL DEPARTMENT, LEARNING RESOURCES, DEDICATED TO THE EDUCATION OF PHYSICIANS, EMPLOYEES AND COMMUNITY MEMBERS; COMMITMENT TO EMPLOYEES ACTING, EITHER FULL-TIME OR PART-TIME, AS INSTRUCTORS IN ACCREDITED COURSES AT THE HIGH SCHOOL, COMMUNITY COLLEGE OR UNIVERSITY LEVEL; STIPEND PAYMENTS TO STUDENTS PERFORMING WORK AND/OR ON-THE-JOB TRAINING WITHIN THE HOSPITAL SETTING; TUITION REIMBURSEMENTS PAID TO EMPLOYEES ENROLLED IN COLLEGE-LEVEL COURSEWORK; JOINT PARTICIPATION IN A SIMULATION LABORATORY WITH OIT; FREE OR MINIMAL COST COMMUNITY EDUCATIONAL OPPORTUNITIES SUCH AS DIABETES EDUCATION, NUTRITION AND OTHER EDUCATION PROGRAMS IN OR FOR THE SCHOOLS; AND HEALTH FAIRS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Stewart President/ceo | OfficerTrustee | 50 | $931,799 |
Fred Naraghi Medical Provider | 40 | $783,456 | |
Stanton Smith Medical Provider | 40 | $695,924 | |
Jared Ogao Medical Provider | 40 | $657,738 | |
Richard Rico Vp/cfo | Officer | 50 | $639,032 |
Marc Orlando Medical Provider | 40 | $607,068 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Klamath Orthopedic Clinic Physician Practice | 9/29/21 | $13,701,249 |
Edward Scott Hudson Staffing Services | 9/29/21 | $7,379,397 |
Klamath Radiology Associates Physician Practice | 9/29/21 | $7,041,654 |
Medical Solutions Staffing Services | 9/29/21 | $4,177,990 |
Klamath Elite Anesthesia Group Physician Practice | 9/29/21 | $1,450,960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,163,485 |
| Investment income | $3,209,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$128,694 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,761,161 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $667,970,427 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $159,275 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,570,170 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,480,269 |
| Pension plan accruals and contributions | $5,747,881 |
| Other employee benefits | $11,935,408 |
| Payroll taxes | $7,151,832 |
| Fees for services: Management | $1,032,585 |
| Fees for services: Legal | $207,644 |
| Fees for services: Accounting | $219,209 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,194,526 |
| Advertising and promotion | $929,967 |
| Office expenses | $2,050,022 |
| Information technology | $8,905,373 |
| Royalties | $0 |
| Occupancy | $3,514,175 |
| Travel | $91,641 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $404,617 |
| Interest | $2,992,194 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,519,688 |
| Insurance | $1,832,668 |
| All other expenses | $0 |
| Total functional expenses | $646,340,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,853,839 |
| Savings and temporary cash investments | $2,886,491 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,181,642 |
| Loans from Officers, Directors, or Controlling Persons | $1,349,366 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,365,780 |
| Prepaid expenses and deferred charges | $3,652,176 |
| Investments—publicly traded securities | $40,152,571 |
| Investments—other securities | $107,578,678 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,591,118 |
| Total assets | $459,854,725 |
| Accounts payable and accrued expenses | $34,235,831 |
| Grants payable | $0 |
| Deferred revenue | $34,749,551 |
| Tax-exempt bond liabilities | $72,674,775 |
| 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 | $7,452,451 |
| Total liabilities | $149,112,608 |
| 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 | $310,742,117 |
Grants Awarded
Over the last fiscal year, Sky Lakes Medical Center Inc has awarded $28,333 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KLAMATH COUNTY SCHOOL DISTRICT PURPOSE: HOSA PROGRAM ASSISTANCE | $20,000 |
CONDUENT HCI PURPOSE: HEALTHY KLAMATH | $8,333 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sky Lakes Medical Center Inc has recieved totaling $625,160.
| Awarding Organization | Amount |
|---|---|
Murphy Family Foundation Wilmington, DE PURPOSE: SCHOLARSHIPS FUND FOR SCIENCE, TECHNOLOGY, ENGINEERING, MATHEMATICS, AND MEDICINE | $500,000 |
Roots And Wings Foundation Inc Seattle, WA PURPOSE: STRONG KIDS, COMMUNITIES, AND MINDS | $125,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $160 |
Endowment Analysis
| Beg. Balance | $5,079,505 |
| Earnings | $1,757,202 |
| Net Contributions | $220,491 |
| Other Expense | $37,111 |
| Grants | $39,000 |
| Ending Balance | $6,981,087 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asante Medford, OR | $2,030,793,202 | $1,067,000,527 |
Grossmont Hospital Corporation San Diego, CA | $1,425,066,151 | $963,761,157 |
Renown Regional Medical Center Reno, NV | $920,238,119 | $918,236,960 |
Eisenhower Medical Center Rancho Mirage, CA | $1,388,654,538 | $887,259,076 |
Santa Barbara Cottage Hospital Santa Barbara, CA | $1,990,776,088 | $820,638,690 |
Kadlec Regional Medical Center Renton, WA | $935,169,169 | $828,794,927 |
St Jude Hospital Renton, WA | $1,232,178,178 | $791,383,557 |
Pasadena Hospital Association Ltd Pasadena, CA | $1,315,158,731 | $740,897,251 |
Enloe Medical Center Chico, CA | $774,318,013 | $814,037,880 |
Torrance Memorial Medical Center Torrance, CA | $1,308,904,790 | $749,888,639 |
Saint Alphonsus Regional Medical Center Inc Boise, ID | $925,610,000 | $796,092,917 |
Pomona Valley Hospital Medical Center Pomona, CA | $766,840,577 | $699,695,626 |