Lakeview Methodist Health Care Center
- Assets
- $33.0m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 211
- Location
- Fairmont, MN
- Founding
- 06/1965
- Data as of
- 09/2022
- EIN
- 41-0874740
Organization Overview
Lakeview Methodist Health Care Center is located in Fairmont, MN. The organization was established in 1965. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 09/2022, Lakeview Methodist Health Care Center employed 211 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeview Methodist Health Care Center 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 09/2022, Lakeview Methodist Health Care Center generated $10.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $9.6m during the year ending 09/2022. While expenses have increased by 6.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LIFE ENHANCING SUPPORTIVE SERVICES FOR OLDER ADULTS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKEVIEW METHODIST HEALTH CARE CENTER OFFERS SKILLED NURSING CARE FOR THE ORGANIZATION PROVIDES SHORT TERM STAYS WITH EXTENSIVE REHABILITATION SERVICES, LONG-TERM PLACEMENT, AND HOUSES A CHILD DAY CARE CENTER. DURING THE FISCAL YEAR THE CARE CENTER PROVIDED 20,613 INPATIENT SERVICE DAYS. THE ORGANIZATION ALSO MANAGES AN ASSISTED LIVING AND HOUSING UNIT FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Barnes Executive Director | Officer | 32 | $95,266 |
Tania Wallace Financial Director | Officer | 32 | $44,870 |
Kris Isenberg Financial Director - Part Year | Officer | 32 | $31,070 |
Courtney Cutler President | OfficerTrustee | 1 | $0 |
Nancy Nordstrom Vice President | OfficerTrustee | 1 | $0 |
Chuck Haugen Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aegis Therapies Therapy Services | 9/29/22 | $292,998 |
Midwest It Systems Inc It Services | 9/29/22 | $112,595 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $402,806 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $402,806 |
| Total Program Service Revenue | $9,635,708 |
| Investment income | $22,714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $23,550 |
| Net Gain/Loss on Asset Sales | -$1,370 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,103,045 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $86,330 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $161,636 |
| Compensation of current officers, directors, key employees. | $161,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,519,916 |
| Pension plan accruals and contributions | $94,519 |
| Other employee benefits | $537,896 |
| Payroll taxes | $337,713 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $26,107 |
| Fees for services: Accounting | $47,819 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $639,459 |
| Advertising and promotion | $108,735 |
| Office expenses | $21,742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $389,925 |
| Travel | $22,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $259,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $978,111 |
| Insurance | $97,381 |
| All other expenses | $439,422 |
| Total functional expenses | $9,648,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,634,893 |
| Savings and temporary cash investments | $367,715 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $902,671 |
| 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 | $16,990 |
| Net Land, buildings, and equipment | $26,686,913 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,398,313 |
| Total assets | $33,007,495 |
| Accounts payable and accrued expenses | $863,553 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,987 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $21,280,987 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $319,236 |
| Total liabilities | $22,475,763 |
| Net assets without donor restrictions | $9,708,951 |
| Net assets with donor restrictions | $822,781 |
| 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 | $33,007,495 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lakeview Methodist Health Care Center has recieved totaling $1,046,848.
| Awarding Organization | Amount |
|---|---|
Minnesota Community Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS | $1,046,848 |
Endowment Analysis
| Beg. Balance | $269,103 |
| Ending Balance | $269,103 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oakwood Village University Woods Homes Inc Madison, WI | $65,944,381 | $14,695,232 |
Healtheast Care Center-White Bear Lake Minneapolis, MN | $21,500,066 | $19,878,370 |
Baptist Home Inc Edina, MN | $23,839,414 | $18,350,368 |
St Johns Lutheran Home Albert Lea, MN | $48,874,024 | $18,188,441 |
Madison Healthcare Services Madison, MN | $39,706,321 | $23,223,798 |
Methodist Manor Health Center Inc West Allis, WI | $6,950,058 | $15,339,815 |
Catholic Eldercare Minneapolis, MN | $35,653,392 | $18,000,892 |
Ebenezer Ridges Edina, MN | $19,189,354 | $17,159,113 |
Bethany Manor Inc Story City, IA | $35,629,736 | $20,182,256 |
Bethany Lutheran Home Sioux Falls, SD | $29,243,342 | $16,408,345 |
Sholom Home West Inc St Louis Park, MN | $13,898,691 | $15,585,899 |
Bethel Lutheran Nursing & Rehabilitation Center Williston, ND | $14,740,286 | $14,698,424 |