Lakewood Health System

Analysis

Lakewood Health System is a registered charity in United States, based in Staples, MN. It received its IRS tax-exemption ruling in February 1997, 29 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, Lakewood Health System reported income of $148.0m and spending of $144.7m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $109.7m to $148.0m (+35%), an average of +7.8% a year. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lakewood Health System 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 Ascension Health Texas ($147.9m), Humboldt Park Health ($148.2m) and Ridgecrest Regional Hospital ($147.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.2m (1.5% of expenses). Other salaries and wages came to $48.7m. At year end it held assets of $162.8m against liabilities of $58.4m, net assets of $104.4m. It reported 1,094 employees.