Lahey Clinic Foundation Inc
- Assets
- $924.7m
- Revenue
- $37.6m
- Investments
- $134.8m
- Employees
- 0
- Location
- Burlington, MA
- Founding
- 10/1994
- Data as of
- 09/2021
- EIN
- 04-2323457
Organization Overview
Lahey Clinic Foundation Inc is located in Burlington, MA. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lahey Clinic Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Lahey Clinic Foundation Inc generated $37.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tabb MD Kevin Ttee (ex Officio) & CEO (ex-Off) | OfficerTrustee | 1 | $0 |
Longworth MD David Trustee (ex-Officio) & President | OfficerTrustee | 1 | $0 |
Mourtzinos MD Arthur P Trustee; Urologist | Trustee | 1 | $0 |
Hunter MD Alice A Trustee; Orthopaedic Surgeon | Trustee | 1 | $0 |
Sorcini MD Andrea P Ttee (ex-Off); Msa Pres & Urologist | Trustee | 1 | $0 |
Srinivasan MD Jayashri Trustee; Division Chair Neurology | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sentinel Benefits Group Llc Financial Planning Services | 9/29/23 | $2,750,118 |
Cdw Llc Information Technology Services | 9/29/23 | $2,270,650 |
Prime Buchholz & Associates Llc Consulting Services | 9/29/23 | $155,242 |
Kts Inc Telecommunication Services | 9/29/23 | $106,425 |
State Street Global Advisors Consulting Services | 9/29/23 | $100,474 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,106,039 |
| Investment income | $7,122,627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,401,288 |
| Net Income from Fundraising Events | -$1,026,010 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,603,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,044,726 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $573 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,070,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,830,886 |
| Pledges and grants receivable | $8,471,726 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $656,825 |
| Investments—publicly traded securities | $243,016,479 |
| Investments—other securities | $134,762,561 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,833,254 |
| Total assets | $924,716,563 |
| Accounts payable and accrued expenses | $29,741,398 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $276,784,736 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $250,437,084 |
| Total liabilities | $556,963,218 |
| Net assets without donor restrictions | $223,611,817 |
| Net assets with donor restrictions | $144,141,528 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $367,753,345 |