Lake Region Healthcare Corporation

Analysis

Lake Region Healthcare Corporation is a registered charity in United States, based in Fergus Falls, MN. It received its IRS tax-exemption ruling in June 1953, 73 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lake Region Healthcare Corporation reported income of $149.5m and spending of $161.6m, spending 108% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $135.5m to $149.5m (+10%), an average of +2.5% a year. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lake Region Healthcare Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Anna Jaques Hospital ($149.5m), Western Healthconnect ($149.6m) and National Multiple Sclerosis Society ($149.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $2.2m (1.4% of expenses). Other salaries and wages came to $46.4m. At year end it held assets of $155.6m against liabilities of $51.3m, net assets of $104.3m. It reported 980 employees.