Lake View Memorial Hospital Inc

Organization Overview

Lake View Memorial Hospital Inc is located in Two Harbors, MN. The organization was established in 1960. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Lake View Memorial Hospital Inc employed 171 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake View Memorial Hospital 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 12/2020, Lake View Memorial Hospital Inc generated $20.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $17.4m during the year ending 12/2020. While expenses have increased by 3.7% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

SERVE AS THE LEADING PROVIDER OF QUALITY HEALTHCARE SERVICES TO LAKE COUNTY AND THE SURROUNDING AREA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LAKE VIEW MEMORIAL HOSPITAL, INC. (LAKE VIEW) OPERATES A HOSPITAL AND RELATED PROGRAMS INCLUDING AMBULTAORY SURGERY, EMERGENCY ROOM AND URGENT CARE, REHABILITATION, IMAGING AND LABORATORY SERVICES IN TWO HARBORS, MN. ADDITIONALLY, LAKE VIEW OPERATES PHYSICAIN CLINICS IN TWO HARBORS, MN AND SILVER BAY, MN FOR THE BENEFIT OF LAKE COUNTY AND THE SURROUNDING COMMUNITIES. IN FURTHERANCE OF ITS CHARITABLE PURPOSE, LAKE VIEW PROVIDES A VARIETY OF BENEFITS TO THE COMMUNITY, INCLUDING OFFERING VARIOUS COMMUNITY-BASED SERVICE PROGRAMS AND DONATING SPACE FOR USE BY COMMUNITY GROUPS. ADDITIONALLY, A NUMBER OF HEALTH-RELATED EDUCATIONAL PROGRAMS ARE PROVIDED FOR THE BENEFIT OF THE COMMUNITY TO IMPROVE INDIVIDUALS' STANDARD OF HEALTH. THE HOSPITAL ALSO PROVIDES MEDICAL CARE WITHOUT CHARGE OR AT REDUCED RATES TO RESIDENTS OF THE COMMUNITY, PRIMARILY THE UNINSURED AND PATIENTS EXPRESSING A WILLINGNESS TO PAY BUT ARE UNABLE DUE TO SOCIO-ECONOMIC FACTORS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Wapiti Medical Group
Emergency Room Physician Services
$1,507,135
Kraus Anderson Construction Company
Construction & Construction Mgmt
$445,830
Agiliti Health Inc
Medical Equipment Rental & Repairs
$445,047
Bwbr Architects
Architectural Services
$194,720
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$801,652
Investment income $84,668
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,080,533
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $20,715,565

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Lake View Memorial Hospital Inc has recieved totaling $98,111.

Awarding OrganizationAmount
St Lukes Foundation

Duluth, MN

PURPOSE: GENERAL OPERATING SUPPORT

$90,611
Wilderness Health

Two Harbors, MN

PURPOSE: LAKE VIEW WELLNESS COORDINATOR

$7,500
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$281,137
Ending Balance$281,137

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