Lake Region Healthcare Foundation
- Assets
- $13.8m
- Revenue
- $989.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Fergus Falls, MN
- Founding
- 09/1990
- Data as of
- 09/2021
- EIN
- 41-1677288
Organization Overview
Lake Region Healthcare Foundation is located in Fergus Falls, MN. The organization was established in 1990. 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. Lake Region Healthcare Foundation 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, Lake Region Healthcare Foundation generated $989.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $130.5k during the year ending 09/2021. While expenses have increased by 12.9% 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.
Since 2015, Lake Region Healthcare Foundation has awarded 12 individual grants totaling $414,849. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LAKE REGION HEALTHCARE FOUNDATION IS TO GATHER, STEWARD AND DISTRIBUTE RESOURCES NEEDED TO SUPPORT AND ADVANCE THE MISSION OF LAKE REGION HEALTHCARE AND ITS AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAKE REGION HEALTHCARE FOUNDATION RECEIVED DONATIONS AND MEMORIALS FROM INDIVIDUALS AND BUSINESSES. IT ALSO RECEIVES PLEDGES AND PAYMENTS OF THOSE PLEDGES. THE FOUNDATION USES IT'S FUNDS FOR A VARIETY OF PURPOSES WHICH AID LAKE REGION HEALTHCARE AND THE COMMUNITY IN PROVIDING QUALITY HEALTHCARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Yaggie Director/chair | OfficerTrustee | 2 | $0 |
Kent Mattson CEO | OfficerTrustee | 1 | $0 |
Dic Pickett Director/secretary & Treasurer | OfficerTrustee | 2 | $0 |
Laurel Nelson Director | Trustee | 2 | $0 |
Carrie Brimhall Director | Trustee | 2 | $0 |
Debra Ferguson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $91,217 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $913,066 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,004,283 |
| Total Program Service Revenue | $0 |
| Investment income | $20,785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$31,337 |
| Net Income from Fundraising Events | -$3,819 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $989,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,724 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,104 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $257 |
| 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 | $170 |
| Total functional expenses | $130,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,046,309 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $57,664 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,162,400 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,867 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,528,653 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,967 |
| Total assets | $13,800,860 |
| Accounts payable and accrued expenses | $0 |
| 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 | $8,162,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,162,400 |
| Net assets without donor restrictions | $3,220,028 |
| Net assets with donor restrictions | $2,418,432 |
| 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 | $13,800,860 |
Grants Awarded
Over the last fiscal year, Lake Region Healthcare Foundation has awarded $133,734 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Fergus Falls, MN PURPOSE: TO ENHANCE PATIENT SERVICES PROVIDED AT LAKE REGION HEALTHCARE, THE SUPPORTING ORGANIZATION | $78,734 |
Fergus Falls, MN PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION WITHIN THE COMMUNITY THAT LAKE REGIONAL HEALTHCARE FOUNDATION SERVES | $25,000 |
CITY OF FERGUS FALLS PURPOSE: NP PARK: PROJECT PLAY | $20,000 |
Roseville, MN PURPOSE: PATHWAY OF HOPE PROJECT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lake Region Healthcare Foundation has recieved totaling $17,598.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $11,598 |
Charles K Blandin Foundation Grand Rapids, MN PURPOSE: PROJECT SUPPORT FOR COMMUNITY WELLNESS AS PART OF THE BLANDIN LEADERSHIP GRANT PROGRAM IN RURAL MINNESOTA | $5,000 |
Offutt Family Foundation Fargo, ND PURPOSE: GENERAL FUND | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teamsters Local 346 Health Fund Trust Bloomington, MN | $55,790,921 | $66,782,892 |
Healthpartners Institute Minneapolis, MN | $92,324,263 | $47,741,048 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
Versiti Inc Milwaukee, WI | $31,675,126 | $28,432,711 |
Pioneer Healthcare Tr Fargo, ND | $21,487,108 | $28,269,563 |
Oklahoma Gas And Electric Company Employees Medical Benefit Trust Des Moines, IA | $55,573 | $22,996,745 |
Roofers Local 96 Health & Welfare Fund Bloomington, MN | $17,573,620 | $18,996,626 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Northern Minnesota-Wisconsin Area Retail Food Health & Welfare Fund Duluth, MN | $9,554,218 | $16,178,140 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |