Lakeland Regional Medical Center Inc

Analysis

Lakeland Regional Medical Center Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in July 1986, 40 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, Lakeland Regional Medical Center Inc reported income of $1.16bn and spending of $1.04bn, spending 90% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $905.4m to $1.16bn (+28%), an average of +6.3% a year. The sharpest change came in the year to September 2021, when income rose by 18%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lakeland Regional Medical Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within FL. Charities of a similar size with the same main cause include St Lukes Hospital of Kansas City ($1.16bn), Renown Regional Medical Center ($1.17bn) and Lahey Clinic Hospital Inc ($1.16bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.4% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $9.9m (0.9% of expenses). Other salaries and wages came to $373.2m. At year end it held assets of $1.12bn against liabilities of $652.8m, net assets of $465.5m. It reported 7,349 employees.