Lakeland Regional Health Systems Inc
- Assets
- $564.0m
- Revenue
- $70.1m
- Investments
- $0.0
- Employees
- 832
- Location
- Lakeland, FL
- Founding
- 07/1986
- Data as of
- 09/2019
- EIN
- 59-2650464
Organization Overview
Lakeland Regional Health Systems Inc is located in Lakeland, FL. The organization was established in 1986. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2019, Lakeland Regional Health Systems Inc employed 832 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 09/2019, Lakeland Regional Health Systems Inc generated $70.1m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $120.9m during the year ending 09/2019. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S STRATEGIC IMPERATIVE IS TO DEVELOP AS A NATIONALLY RECOGNIZED, FISCALLY STRONG AND GROWING COLLABORATIVE REGIONAL HEALTH SYSTEM THAT IMPROVES LIVES BY OFFERING SAFE, HIGH QUALITY, EQUITABLE AND AFFORDABLE HEALTHCARE, WHILE DEMONSTRATING AN EQUAL COMMITMENT TO THE PROMOTION OF INDIVIDUAL AND COMMUNITY HEALTH, WELLNESS AND DISEASE PREVENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S STRATEGIC IMPERATIVE IS TO DEVELOP AS A NATIONALLY RECOGNIZED, FISCALLY STRONG AND GROWING COLLABORATIVE REGIONAL HEALTH SYSTEM THAT IMPROVES LIVES BY OFFERING SAFE, HIGH QUALITY, EQUITABLE AND AFFORDABLE HEALTHCARE, WHILE DEMONSTRATING AN EQUAL COMMITMENT TO THE PROMOTION OF INDIVIDUAL AND COMMUNITY HEALTH, WELLNESS AND DISEASE PREVENTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Avinash Khanna MD Cardiologist | 1 | $1,088,988 | |
Richard Crank MD Orthopedic Surgeon | 1 | $1,064,336 | |
Philip Owen MD Cardiologist | 1 | $973,600 | |
Rakesh P Patel MD Urologist | 1 | $846,387 | |
Sami Baddoura MD Cardiologist | 1 | $828,815 | |
Evan C Jones Evp - Past Chief Financial Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allscripts Healthcare Llc Software Maintenance | 9/29/19 | $1,347,227 |
Watson Clinic Llp Medical | 9/29/19 | $4,193,552 |
Frank Russell Company Investment Fees | 9/29/19 | $1,983,634 |
Phoenix Properties Llp Leases | 9/29/19 | $2,300,246 |
Hctec Llc Contract Labor | 9/29/19 | $503,128 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,841,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $70,053,119 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $81,518,089 |
| Pension plan accruals and contributions | $2,605,456 |
| Other employee benefits | $6,064,368 |
| Payroll taxes | $3,736,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $419,064 |
| Fees for services: Accounting | $60,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,032,311 |
| Fees for services: Other | $7,825,053 |
| Advertising and promotion | $3,546 |
| Office expenses | $1,760,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,590,651 |
| Travel | $841,516 |
| 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 | $3,411,935 |
| Insurance | $2,258,894 |
| All other expenses | $0 |
| Total functional expenses | $120,903,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,691,930 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,402,087 |
| 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 | $2,075,127 |
| Investments—publicly traded securities | $468,905,045 |
| Investments—other securities | $0 |
| Investments—program-related | $7,755,989 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $564,009,609 |
| Accounts payable and accrued expenses | $2,113,304 |
| 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 | $100,440,480 |
| Total liabilities | $102,553,784 |
| Net assets without donor restrictions | $461,455,825 |
| 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 |
| Total liabilities and net assets/fund balances | $461,455,825 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lakeland Regional Health Systems Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
American Diabetes Association Inc Arlington, VA PURPOSE: Education and Development | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Health Of South Florida Inc Coral Gables, FL | $6,800,060,279 | $1,294,005,107 |
Anc Healthcare Inc Winter Park, FL | $342,432,322 | $16,442,127 |
Baycare Health Systems Inc Clearwater, FL | $6,226,593,311 | $818,608,318 |
Floyd Healthcare Management Inc Rome, GA | $548,593,704 | $501,302,033 |
Health First Health Plans Inc Rockledge, FL | $174,603,605 | $443,031,050 |
Orlando Health Medical Group Inc Orlando, FL | $56,252,552 | $255,061,880 |
Baptist Health Medical Group Inc Coral Gables, FL | $79,890,511 | $1,053,991,722 |
Gulf Health Hospitals Inc Mobile, AL | $222,273,291 | $261,562,236 |
Health First Shared Services Inc Rockledge, FL | $1,106,623,021 | $279,445,215 |
Northeast Georgia Physicians Group Inc Gainesville, GA | $33,520,552 | $202,961,239 |
Baptist Health System Inc Jacksonville, FL | $385,417,195 | $182,762,120 |
Pasco-Pinellas Hillsborough Community Health System Inc Wesley Chapel, FL | $420,012,464 | $266,376,815 |