Lahey Health Shared Services Inc
- Assets
- $74.8m
- Revenue
- $187.5m
- Investments
- $0.0
- Employees
- 1,133
- Location
- Burlington, MA
- Founding
- 02/1994
- Data as of
- 09/2020
- EIN
- 04-3178972
Organization Overview
Lahey Health Shared Services Inc is located in Burlington, MA. The organization was established in 1994. According to its NTEE Classification (E90) the organization is classified as: Nursing, under the broad grouping of Health Care and related organizations. As of 09/2021, Lahey Health Shared Services Inc employed 1,133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lahey Health Shared Services 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 09/2020, Lahey Health Shared Services Inc generated $187.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $187.5m during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
O'connor Timothy Former Trustee, Treasurer, CFO | 0 | $931,391 | |
Corkery Joseph Internal Medicine Physician | 55 | $507,989 | |
Woods Matthew Chief Financial Officer, Wh | 55 | $425,860 | |
Stumpek Thomas VP It Governance & Security | 55 | $393,680 | |
Lawson Jr Harold E SVP & Chief Revenue Officer | Officer | 55 | $386,837 |
Lloyd Peter R VP Corporate Finance | Officer | 55 | $384,073 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Integration Partners It Services | 9/29/21 | $2,637,905 |
Healthcare Workforce Logistics Llc (Hwl) Staffing Services | 9/29/21 | $2,468,256 |
Epic Systems Corporation Supplies | 9/29/21 | $4,199,816 |
Bca Financial Services Inc Account Collections | 9/29/21 | $3,669,145 |
Emc Corporation Manufacturing | 9/29/21 | $2,208,305 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $61,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $104,032 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $187,470,009 |
| 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. | $2,331,133 |
| Compensation to disqualified persons | $4,723,561 |
| Other salaries and wages | $88,147,444 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,795,388 |
| Payroll taxes | $6,160,996 |
| 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 | $0 |
| Fees for services: Other | $19,984,873 |
| Advertising and promotion | $4,128,679 |
| Office expenses | $5,659,693 |
| Information technology | $21,001,379 |
| Royalties | $0 |
| Occupancy | $6,027,840 |
| Travel | $385,081 |
| 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 | $10,790 |
| Insurance | $28,556 |
| All other expenses | $0 |
| Total functional expenses | $187,470,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,789,729 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $381,726 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,066,201 |
| Prepaid expenses and deferred charges | $10,824,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,674,925 |
| Total assets | $74,834,063 |
| Accounts payable and accrued expenses | $72,804,894 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $2,029,169 |
| Total liabilities | $74,834,063 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lahey Health Shared Services Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Massachusetts League Of Community Health Centers Inc Boston, MA PURPOSE: DSRIP SPECIAL PROJECT | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Health Shared Services Inc Burlington, MA | $74,834,063 | $187,470,009 |
Hebrew Home For The Aged Bronx, NY | $191,925,368 | $117,684,279 |
Cabrini Of Westchester Dobbs Ferry, NY | $59,456,923 | $49,540,780 |
Ur Medicine Home Care Certified Services Inc Webster, NY | $29,553,861 | $44,132,276 |
Southcoast Visiting Nurse Association Inc Fairhaven, MA | $31,363,788 | $42,652,973 |
Family Home Care Services Of Brooklyn And Queens Inc Brooklyn, NY | $8,573,654 | $32,118,330 |
Visiting Nurse Association Of Ridgefield Inc Ridgefield, CT | $35,571,707 | $33,018,283 |
Cohen Veterans Bioscience Inc New York, NY | $15,587,351 | $18,082,398 |
Syracuse Home Association Baldwinsville, NY | $19,266,611 | $17,910,362 |
Villa Mary Immaculate Albany, NY | $22,167,443 | $14,753,884 |
Presbyterian Home For Central New York Inc New Hartford, NY | $13,053,629 | $15,424,333 |
Total Senior Care Inc Olean, NY | $14,900,611 | $15,049,618 |