Lgh Charitable Trust Inc
- Assets
- $64.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Lawrence, MA
- Founding
- 05/1985
- Data as of
- 09/2023
- EIN
- 22-2586814
Organization Overview
Lgh Charitable Trust Inc is located in Lawrence, MA. The organization was established in 1985. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, 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. Lgh Charitable Trust 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 09/2023, Lgh Charitable Trust Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $2.1m during the year ending 09/2023. While expenses have increased by 10.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE PHILANTHROPIC SUPPORT FOR THE DELIVERY OF COMPREHENSIVE HEALTH CARE TO PATIENTS ACROSS THE MERRIMACK VALLEY REGION (SEE SCH O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND ENCOURAGE PHILANTHROPIC SUPPORT FOR THE DELIVERY OF COMPREHENSIVE HEALTH CARE TO PATIENTS ACROSS THE MERRIMACK VALLEY REGION BY ENSURING ACCESS TO HIGH-QUALITY CARE, THE LATEST TECHNOLOGIES AND CARING, PERSONALIZED TREATMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah J Wilson President & CEO (end 5/23) | OfficerTrustee | 1 | $0 |
Robin Hynds Interim Pres. & CEO (beg 5/23) | OfficerTrustee | 1 | $0 |
Michael S Turilli Cfo/corp Asst Treas (end 5/22) | 0 | $0 | |
Lisa Crutchfield Corp Asst Sec/chro Hr | Officer | 1 | $0 |
Eduardo Haddad MD Trustee | Trustee | 1 | $0 |
William Sullivan Cfo/corp Asst Treas(beg 10/22) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lawrence General Hospital Management Serv | 9/29/16 | $328,302 |
Ghorsi Sorrenti Inc Consulting | 9/29/16 | $136,499 |
Cain Brothers Company Investment Banking | 9/29/16 | $254,643 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,879,935 |
| Noncash contributions included in lines 1a–1f | $20,764 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,879,935 |
| Total Program Service Revenue | $0 |
| Investment income | $601,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,064,858 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,546,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $564,389 |
| 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 | $0 |
| Advertising and promotion | $37,711 |
| Office expenses | $28,204 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,838 |
| Travel | $733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,415,336 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $13,675 |
| Total functional expenses | $2,127,886 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,457,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $25,908,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,446,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,941,000 |
| Total assets | $64,208,000 |
| Accounts payable and accrued expenses | $371,000 |
| 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 | $30,540,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,924,000 |
| Total liabilities | $34,835,000 |
| Net assets without donor restrictions | $25,474,000 |
| Net assets with donor restrictions | $3,899,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $64,208,000 |