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Nonprofiteer
← LAKE VIEW MEMORIAL HOSPITAL INC

Form 990 for tax year 2024

Filed by LAKE VIEW MEMORIAL HOSPITAL INC.

Totals

Total revenue
$11,928,357
Total expenses
$11,371,292
Contributions and grants received
$15,314
Grants paid
$0
Program service revenue
$11,623,185
Investment income
$128,711
Other revenue
$161,147
Total assets, end of year
$51,022,982
Total liabilities, end of year
$11,864,450
Net assets or fund balances, end of year
$39,158,532
Program services expenses (Part IX)
$9,553,999
Management and general expenses
$1,817,293
Fundraising expenses
$0
Program service expenses (Part III)
$9,553,999

Program services were 84.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $15,314

  • 2a · Program service revenue: PATIENT SERVICE REVENUE

    total $11,424,814 · related or exempt $11,068,041 · unrelated business $356,773

  • 2b · Program service revenue: OUTSIDE SERVICE REVENUE

    total $198,371 · related or exempt $193,549 · unrelated business $4,822

  • 3 · Investment income

    total $134,041 · excluded $134,041

  • 6a · Gross rents

    real property $36,103

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $36,103

  • 6d · Net rental income or loss

    total $36,103 · excluded $36,103

  • 7b · Less cost or other basis and sales expenses

    securities $5,304 · other assets $26

  • 7c · Gain or loss

    securities -$5,304 · other assets -$26

  • 7d · Net gain or loss

    total -$5,330 · excluded -$5,330

  • 11a · Other revenue: CAFETERIA REVENUE

    total $64,207 · excluded $64,207

  • 11d · All other revenue

    total $60,837 · unrelated business $42,251 · excluded $18,586

  • 11e · Other revenue, total

    $125,044

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $90,146 · program services $90,146

  • 7 · Other salaries and wages

    total $4,348,699 · program services $3,638,176 · management and general $710,523

  • 8 · Pension plan contributions

    total $58,537 · program services $48,842 · management and general $9,695

  • 9 · Other employee benefits

    total $862,490 · program services $724,253 · management and general $138,237

  • 10 · Payroll taxes

    total $324,084 · program services $272,178 · management and general $51,906

  • 11b · Fees: legal

    total $39,281 · management and general $39,281

  • 11c · Fees: accounting

    total $27,218 · management and general $27,218

  • 11d · Fees: lobbying

    total $1,598 · management and general $1,598

  • 11g · Fees: other

    total $2,882,369 · program services $2,422,061 · management and general $460,308

  • 13 · Office expenses

    total $26,980 · program services $8,690 · management and general $18,290

  • 14 · Information technology

    total $15,549 · program services $535 · management and general $15,014

  • 16 · Occupancy

    total $257,258 · program services $216,055 · management and general $41,203

  • 17 · Travel

    total $43,358 · program services $36,414 · management and general $6,944

  • 20 · Interest

    total $56,079 · program services $47,097 · management and general $8,982

  • 22 · Depreciation, depletion and amortization

    total $710,103 · program services $596,371 · management and general $113,732

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $490,418 · program services $441,569 · management and general $48,849

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $401,747 · program services $401,747

  • 24c · Other expenses: DRUG SUPPLIES

    total $274,985 · program services $274,985

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $195,858 · program services $195,858

  • 24e · All other expenses

    total $264,535 · program services $139,022 · management and general $125,513

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,327,761 · end of year $3,166,249

  • 2 · Savings and temporary cash investments

    beginning of year $4,885,803 · end of year $3,569,408

  • 4 · Accounts receivable

    beginning of year $4,162,396 · end of year $5,163,082

  • 8 · Inventories for sale or use

    beginning of year $574,053 · end of year $572,651

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,218 · end of year $38,321

  • 10a · Land, buildings and equipment: cost or other basis

    $37,458,727

  • 10b · Land, buildings and equipment: accumulated depreciation

    $14,522,344

  • 10c · Land, buildings and equipment, net

    beginning of year $16,968,530 · end of year $22,936,383

  • 11 · Investments: publicly traded securities

    beginning of year $10,644,149 · end of year $11,392,342

  • 12 · Investments: other securities

    beginning of year $1,583,467 · end of year $2,123,886

  • 15 · Other assets

    beginning of year $1,197,062 · end of year $2,060,660

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,600,933 · end of year $3,092,942

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,821,834 · end of year $7,927,834

  • 25 · Other liabilities

    beginning of year $615,543 · end of year $843,674

  • 27 · Net assets without donor restrictions

    beginning of year $32,045,541 · end of year $38,864,050

  • 28 · Net assets with donor restrictions

    beginning of year $304,588 · end of year $294,482

Mission and programs · 2024

Mission

THE PATIENT. ABOVE ALL ELSE.

Activities or mission (Part I)

SERVE AS THE LEADING PROVIDER OF QUALITY HEALTHCARE SERVICES TO LAKE COUNTY AND THE SURROUNDING AREA.

  • LAKE VIEW MEMORIAL HOSPITAL, INC. (LAKE VIEW) OPERATES A HOSPITAL AND RELATED PROGRAMS INCLUDING AMBULATORY SURGERY, EMERGENCY ROOM AND URGENT CARE, REHABILITATION, IMAGING AND LABORATORY SERVICES IN TWO HARBORS, MN. ADDITIONALLY, LAKE VIEW OPERATES PHYSICIAN CLINICS IN TWO HARBORS, MN AND SILVER BAY, MN FOR THE BENEFIT OF LAKE COUNTY AND THE SURROUNDING COMMUNITIES. IN FURTHERANCE OF ITS CHARITABLE PURPOSE, LAKE VIEW PROVIDES A VARIETY OF BENEFITS TO THE COMMUNITY, INCLUDING OFFERING VARIOUS COMMUNITY-BASED SERVICE PROGRAMS AND DONATING SPACE FOR USE BY COMMUNITY GROUPS. ADDITIONALLY, A NUMBER OF HEALTH-RELATED EDUCATIONAL PROGRAMS ARE PROVIDED FOR THE BENEFIT OF THE COMMUNITY TO IMPROVE INDIVIDUALS' STANDARD OF HEALTH. THE HOSPITAL ALSO PROVIDES MEDICAL CARE WITHOUT CHARGE OR AT REDUCED RATES TO RESIDENTS OF THE COMMUNITY, PRIMARILY THE UNINSURED AND PATIENTS EXPRESSING A WILLINGNESS TO PAY BUT ARE UNABLE DUE TO SOCIO-ECONOMIC FACTORS.

    Expenses $9,553,999 · Revenue $11,261,590

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Eric Lohn Treasurer St

    B.M. (THRU 3/24) & LUKE'S HOSP CO-CEO & CFO

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Nicholas Van Deelen MD St

    B.M. & LUKE'S HOSP CO-PRES/CEO & CFO

    Total calculated
    $0
    Hours/week
    2 + 38 related

  • Kiera Wilson

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chris Brelie

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Wade Leblanc

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kevin Beardsley

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Janelle Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rick Hogenson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kelsey Schultz MD

    BOARD MEMBER & PHYSICIAN

    Total calculated
    $0
    Hours/week
    40

  • Joyce Scott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Matthew Heywood

    PRESIDENT & CEO ASPIRUS

    Total calculated
    $0
    Hours/week
    2 + 50 related

  • Jeffrey Jones

    SVP-CFO (THRU 04/23)

    Total calculated
    $0
    Hours/week
    2 + 50 related

  • Jerry M Yang

    SVP - CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    2 + 50 related

  • Greg Ruberg

    LAKE VIEW HOSP PRESIDENT/CEO

    Total calculated
    $0
    Hours/week
    35 + 5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NORTHERN LAKES SURGERY CENTER LLC

    SURGICAL SERVICES · MN

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2025
IRS schema version
2024v5.1
Source object
202521359349308557

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