Lakewood Regional Healthcare Foundation
- Assets
- $6.3m
- Revenue
- $393.7k
- Investments
- $5.9m
- Employees
- 0
- Location
- Baudette, MN
- Founding
- 05/1998
- Data as of
- 06/2022
- EIN
- 41-1893795
Organization Overview
Lakewood Regional Healthcare Foundation is located in Baudette, MN. The organization was established in 1998. According to its NTEE Classification (E40) the organization is classified as: Reproductive Health Care, 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. Lakewood Regional 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 06/2022, Lakewood Regional Healthcare Foundation generated $393.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.7% each year . All expenses for the organization totaled $31.2k during the year ending 06/2022. 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
LAKEWOOD REGIONAL HEALTHCARE FOUNDATION SUPPORTS THE HEALTH CARE SERVICES AND FACILITIES OF LAKEWOOD HEALTH CENTER.
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 |
|---|---|---|---|
Benjamin Koppelman Former President | 0 | $0 | |
Jeffry Stampohar President / Chair | OfficerTrustee | 1 | $0 |
Jay Ross VP Operational Finance | Officer | 1 | $0 |
Ashley Malchow Board Member (partial Year) | Trustee | 1 | $0 |
Carrie Davidson Foundation Director | Officer | 1 | $0 |
Sandra Laudenslager Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $24,732 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,352 |
| Noncash contributions included in lines 1a–1f | $24,732 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,084 |
| Total Program Service Revenue | $0 |
| Investment income | $57,869 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $298,791 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $393,744 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,500 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,068 |
| Advertising and promotion | $0 |
| Office expenses | $539 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $130 |
| Total functional expenses | $31,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $375,133 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,905,942 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,281,075 |
| Accounts payable and accrued expenses | $511 |
| 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 | $0 |
| Total liabilities | $511 |
| Net assets without donor restrictions | $2,936,473 |
| Net assets with donor restrictions | $3,344,091 |
| 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 | $6,281,075 |
Grants Awarded
Over the last fiscal year, Lakewood Regional Healthcare Foundation has awarded $76,994 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LAKEWOOD HEALTH CENTER PURPOSE: GENERAL OPERATING SUPPORT | $68,094 |
LAKE OF THE WOODS SCHOOL PURPOSE: Community Support | $8,900 |