Lake View Memorial Hospital Inc

Analysis

Lake View Memorial Hospital Inc is a registered charity in United States, based in Two Harbors, MN. It received its IRS tax-exemption ruling in June 1960, 66 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 December 2023, Lake View Memorial Hospital Inc reported income of $23.9m and spending of $22.6m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.5m to $23.9m (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lake View Memorial Hospital Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include River Valley Primary Care Services Incorporated ($23.9m), McLaren Caro Region ($24.0m) and Childrens Health Care Foundation ($23.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $534k (2.4% of expenses). Other salaries and wages came to $7.8m. At year end it held assets of $43.4m against liabilities of $11.0m, net assets of $32.4m. It reported 188 employees.