Lake Taylor Transitional Care Hospital Foundation
- Assets
- $15.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 01/2005
- Data as of
- 06/2021
- EIN
- 51-0506412
Organization Overview
Lake Taylor Transitional Care Hospital Foundation is located in Norfolk, VA. The organization was established in 2005. 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 Taylor Transitional Care Hospital 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 06/2021, Lake Taylor Transitional Care Hospital Foundation generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $468.1k during the year ending 06/2021. While expenses have increased by 24.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE OPERATIONS OF THE HOSPITAL AUTHORITY OF NORFOLK, T/A LAKE TAYLOR TRANSITIONAL CARE HOSPITAL (HOSPITAL).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLE PURPOSE OF THE FOUNDATION IS TO SUPPORT THE HOSPITAL AND DURING THIS REPORTING PERIOD THE SUPPORT PROVIDED BY THE FOUNDATION ALLOWED THE HOSPITAL TO (1) PURCHASE EQUIPMENT AND ENHANCE THE EXPERIENCE OF THE ADULT AND PEDIATRIC PATIENTS, AND RESPIRATORY CARE PATIENTS, AND (2) TO CONTINUE THE DEVELOPMENT OF A SUPPORTIVE CARE PROGRAM FOR THE HOSPITAL LEVEL PATIENT POPULATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward L Lilly MD Member | Trustee | 1 | $0 |
Mike Shumate Member | Trustee | 1 | $0 |
David A Durham Chairperson | Trustee | 5 | $0 |
Andrew C Hodge Vice-Chairperson | Trustee | 3 | $0 |
Deborah B Bauman Member | Trustee | 1 | $0 |
George W Ricks Member | Trustee | 1 | $0 |
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 | $1,096,935 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,096,935 |
| Total Program Service Revenue | $0 |
| Investment income | $329,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $879,346 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,305,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $262,979 |
| 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 | $40,770 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,175 |
| Payroll taxes | $6,548 |
| 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 | $61,038 |
| Fees for services: Other | $45,000 |
| Advertising and promotion | $30,376 |
| Office expenses | $1,943 |
| Information technology | $5,631 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $68 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,474 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $468,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $71,442 |
| 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 | $2,703,484 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,413,905 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,254 |
| Total assets | $15,198,085 |
| Accounts payable and accrued expenses | $55,227 |
| 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 | $55,227 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $3,214,042 |
| Total liabilities and net assets/fund balances | $15,198,085 |
Grants Awarded
Over the last fiscal year, Lake Taylor Transitional Care Hospital Foundation has awarded $262,979 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HOSPITAL AUTHORITY OF NORFOLK PURPOSE: EQUIPMENT AND PROGRAMS | $204,063 |
Norfolk, VA PURPOSE: PALLIATIVE CARE PROGRAM | $58,916 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake Taylor Transitional Care Hospital Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Rashkind Family Foundation Virginia Beach, VA PURPOSE: UNRESTRICTED | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Norton Properties Inc Louisville, KY | $374,509,086 | $60,233,665 |
West Virginia University Hospitals East Inc Martinsburg, WV | $676,755 | $63,515,006 |
Bricklayers And Allied Craftworkers International Health Fund Washington, DC | $54,125,903 | $67,880,287 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |