Lake Region Healthcare Corporation

Analysis

Lake Region Healthcare Corporation is a registered charity in United States, based in Elbow Lake, MN. It received its IRS tax-exemption ruling in April 1995, 31 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 $19.7m and spending of $19.9m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $18.2m to $19.7m (+7.9%), an average of +1.9% a year. The sharpest change came in the year to September 2020, when income rose by 26%. 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 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Centro San Vicente ($19.7m), Bethel Lutheran Nursing & Rehabilitation Center ($19.7m) and Barnes-Kasson County Hospital ($19.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 4.6% and program service revenue 93% of the total. Other salaries and wages came to $5.3m. At year end it held assets of $30.3m against liabilities of $21.4m, net assets of $8.8m. It reported 147 employees.