South Lake Hospital Inc
- Assets
- $663.4m
- Revenue
- $395.9m
- Investments
- $0.0
- Employees
- 1,891
- Location
- Clermont, FL
- Founding
- 05/1997
- Data as of
- 09/2023
- EIN
- 59-3322533
Organization Overview
South Lake Hospital Inc is located in Clermont, FL. The organization was established in 1997. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, South Lake Hospital Inc employed 1,891 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Lake Hospital Inc 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 09/2023, South Lake Hospital Inc generated $395.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $335.0m during the year ending 09/2023. While expenses have increased by 8.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH AND QUALITY OF LIFE OF THE INDIVIDUALS AND COMMUNITIES IN SOUTH LAKE COUNTY.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member, Vice Chairman | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member Secretary/treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member, Chairman/president | OfficerTrustee | 55 | $0 |
Name Not Listed Board Member | Trustee | 55 | $276,731 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 55 | $517,958 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miller And Miller Investigation And Security Llc Security Services | 9/29/23 | $1,604,465 |
Avi Foodsystems Inc Food Services | 9/29/23 | $2,225,941 |
Lifefleet Southeast Inc Healthcare Services | 9/29/23 | $1,231,143 |
Medical Development Of Florida Llc Healthcare Services | 9/29/23 | $1,328,613 |
Wellway Llc Consulting Services | 9/29/23 | $1,224,647 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $92,390 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,807 |
| Total Program Service Revenue | $390,971,891 |
| Investment income | $1,718,006 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $390,442 |
| Net Gain/Loss on Asset Sales | $540,453 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $395,895,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,928 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $847,699 |
| Compensation of current officers, directors, key employees. | $847,699 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,154,481 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,579,874 |
| Payroll taxes | $8,134,131 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $17,886 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,868 |
| Fees for services: Other | $27,680,736 |
| Advertising and promotion | $30,268 |
| Office expenses | $8,788,193 |
| Information technology | $264,673 |
| Royalties | $0 |
| Occupancy | $20,108,188 |
| Travel | $86,711 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,708 |
| Interest | $4,664,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,977,095 |
| Insurance | $3,386,539 |
| All other expenses | $20,867,136 |
| Total functional expenses | $335,040,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,788,487 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $35,000,000 |
| Accounts receivable, net | $58,611,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $239,443 |
| Inventories for sale or use | $4,872,361 |
| Prepaid expenses and deferred charges | $126,105 |
| Net Land, buildings, and equipment | $277,870,838 |
| Investments—publicly traded securities | $197,605,297 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $38,045,943 |
| Other assets | $46,260,453 |
| Total assets | $663,420,162 |
| Accounts payable and accrued expenses | $21,367,702 |
| Grants payable | $0 |
| Deferred revenue | $326,643 |
| 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 | $36,494,976 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,229,379 |
| Total liabilities | $81,418,700 |
| Net assets without donor restrictions | $546,016,347 |
| Net assets with donor restrictions | $35,985,115 |
| 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 | $663,420,162 |
Grants Awarded
Over the last fiscal year, South Lake Hospital Inc has awarded $255,541 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOOL DISTRICT OF LAKE COUNTY PURPOSE: SPONSORSHIP INDIGENT CARE | $6,000 |
LIFESTREAM BEHAVIORAL CENTER INC | | | $249,541 |