Lubbock Methodist Hospital System
- Assets
- $3.3m
- Revenue
- $290.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 03/1999
- Data as of
- 05/2022
- EIN
- 75-2221668
Organization Overview
Lubbock Methodist Hospital System is located in Lubbock, TX. The organization was established in 1999. According to its NTEE Classification (E20) the organization is classified as: Hospitals, 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. Lubbock Methodist Hospital System 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 05/2022, Lubbock Methodist Hospital System generated $290.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $113.8k during the year ending 05/2022. While expenses have increased by 4.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FORM 990. PART 1, LINE 1- ORGANIZATION MISSION OR SIGNIFIFICANT ACTIVIES THE PURPOSE OF LUBBOCK METHODIST HOSPITAL SYSTEM (LMHS)IS TO ASSIST ST. JOSEPH HEALTH SYSTEM IN THE GOVERNMENT AND FULFILLMENT OF COVENANT HEALTH SYSTEM MISSION. THE MISSION OF COVENANT HEALTH SYSTEM IS TO EXTEND CHRISTIAN MINISTRY BY CARING FOR THE WHOLE PERSON - BODY, MIND, AND SPIRIT - AND BY WORKING WITH OTHERS TO IMPROVE HEALTH AND QUALITY OF LIFE IN OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FORM 990, PART III, LINE 4A PROGRAM SERVICE ACCOMPLISHMENTS THE LUBBOCK METHODIST HOSPITAL SYSTEM (LMHS) BOARD MEETS FOUR TIMES A YEAR AND HAS THREE ACTIVE COMMITTEES: OPERATING, OVERSIGHT, AND NOMINATING. THE OPERATING COMMITTEE DETERMINES THE FINANCIAL FEASIBILITY OF PROJECTS, ACTS, AND UNDERTAKINGS REFERRED TO IT BY THE BOARD; REVIEWS FINANCIAL STATEMENTS AND APPRAISES THE PERFORMANCE OF LMHS; COUNSELS WITH THE BOARD AND THE OFFICERS ON CURRENT AND LONG-TERM FISCAL AFFAIRS AND MAKES RECOMMENDATIONS TO THE BOARD CONCERNING THE FISCAL AFFAIRS; RECOMMENDS POLICIES AND AGENCIES FOR THE MANAGEMENT OF FUNDS; OVERSEES FINANCIAL AND LEGAL AUDIT NEEDS AND MAKES RECOMMENDATIONS; OVERSEES AND MAKES RECOMMENDATIONS REGARDING INSURANCE NEEDS. IN DOING SO, THE BOARD SPONSORS BOTH THE DEBAKEY LECURESHIP SERIES AND FUNDS THE DR. ROBERT SALEM HISTORICAL COLLECTION. THE OVERSIGHT COMMITTEE IS RESPONSIBLE FOR OVERSEEING THE RELATIONSHIP WITH COVENANT HEATH SYSTEM/ST. JOSEPH HEALTH SYSTEM. IN THIS ROLE, CORPORATE ALLOCATION IS REVIEWED ON AN ANNUAL BASIS. THE NOMINATING COMMITTEE RECOMMENDS MEMBERS OF THE LMHS BOARD, OFFICERS OF THE LMHS BOARD, AND MEMBERS OF THE COVENANT HEALTH SYSTEM BOARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Wilkerson Vice Chairma | OfficerTrustee | $0 | |
Sarah Bevers Chairman | OfficerTrustee | $0 | |
Bryan Reaves Secretary | OfficerTrustee | $0 | |
Lindsay Cooper Board Member | Trustee | $0 | |
Kerry Hendershot Board Member | Trustee | $0 | |
Rev Don Boren Board Member | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $70,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $219,336 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $290,132 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $6,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,527 |
| Fees for services: Other | $10,796 |
| Advertising and promotion | $0 |
| Office expenses | $150 |
| 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 | $17,843 |
| All other expenses | $0 |
| Total functional expenses | $113,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $118,671 |
| 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 | $3,207,737 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$12,956 |
| Total assets | $3,313,452 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,313,452 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,313,452 |
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