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Nonprofiteer
← LAKE HOSPITAL FOUNDATION INC

Form 990 for tax year 2024

Filed by LAKE HOSPITAL FOUNDATION INC.

Totals

Total revenue
$1,358,100
Total expenses
$1,151,737
Contributions and grants received
$402,675
Grants paid
$952,665
Program service revenue
$0
Investment income
$955,425
Other revenue
$0
Total assets, end of year
$24,366,825
Total liabilities, end of year
$4,670,225
Net assets or fund balances, end of year
$19,696,600
Program services expenses (Part IX)
$1,138,447
Management and general expenses
$13,290
Fundraising expenses
$0
Program service expenses (Part III)
$1,138,447

Program services were 98.8% 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.

  • 1d · Related organizations

    $402,675

  • 3 · Investment income

    total $363,894 · excluded $363,894

  • 7a · Gross sales of assets other than inventory

    securities $591,531

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

    securities $0

  • 7c · Gain or loss

    securities $591,531

  • 7d · Net gain or loss

    total $591,531 · excluded $591,531

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $952,665 · program services $952,665

  • 7 · Other salaries and wages

    total $123,874 · program services $116,441 · management and general $7,433

  • 8 · Pension plan contributions

    total $3,464 · program services $3,256 · management and general $208

  • 10 · Payroll taxes

    total $13,808 · program services $12,980 · management and general $828

  • 11c · Fees: accounting

    total $4,200 · program services $3,948 · management and general $252

  • 13 · Office expenses

    total $3,522 · program services $3,311 · management and general $211

  • 19 · Conferences, conventions and meetings

    total $2,547 · program services $2,394 · management and general $153

  • 24a · Other expenses: DONOR RECOGNITION

    total $44,912 · program services $42,217 · management and general $2,695

  • 24b · Other expenses: CATERING

    total $2,056 · program services $925 · management and general $1,131

  • 24c · Other expenses: NON MEDICAL SUPPLIES

    total $89 · program services $40 · management and general $49

  • 24e · All other expenses

    total $600 · program services $270 · management and general $330

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $267,955 · end of year $12,611

  • 3 · Pledges and grants receivable

    beginning of year $593,043 · end of year $318,317

  • 4 · Accounts receivable

    beginning of year $294,953 · end of year $15,677

  • 8 · Inventories for sale or use

    beginning of year $1,649 · end of year $1,649

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,078 · end of year $5,078

  • 11 · Investments: publicly traded securities

    beginning of year $21,693,489 · end of year $23,045,610

  • 12 · Investments: other securities

    beginning of year $525,669 · end of year $591,939

  • 15 · Other assets

    beginning of year $264,527 · end of year $375,944

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,355,112 · end of year $6,271

  • 19 · Deferred revenue

    beginning of year $7,500 · end of year $0

  • 25 · Other liabilities

    beginning of year $55,791 · end of year $4,663,954

  • 27 · Net assets without donor restrictions

    beginning of year $10,483,433 · end of year $11,973,450

  • 28 · Net assets with donor restrictions

    beginning of year $7,744,527 · end of year $7,723,150

Mission and programs · 2024

Mission

SUPPORT AND ASSIST LAKE HOSPITAL SYSTEM, INC. IN ITS EFFORTS TO SERVE THE NEEDS OF LAKE COUNTY RESIDENTS AND ITS SURROUNDING COMMUNITIES BY PROVIDING FUNDING FOR ENHANCED OR ADDITIONAL PROGRAMS THAT OTHERWISE MIGHT NOT BE AVAILABLE.

Activities or mission (Part I)

SUPPORT AND ASSIST THE MISSION OF LAKE HOSPITAL SYSTEM, INC.

  • THE FOUNDATION GRANTS ASSISTANCE TO LAKE HOSPITAL SYSTEM, INC. TO FURTHER ENHANCE THE HOSPITAL'S MISSION AND COMMUNITY BENEFIT.

    Expenses $1,138,447 · Grants $952,665

As filed on the 2024 return.

Listed in Part VII

  • Strosaker Robyn

    TRUSTEE/PRESIDENT (EX-OFFICIO)

    Total calculated
    $1,128,816
    From this org
    $0
    From related orgs
    $963,253
    Other
    $165,563
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $590,252 related
    Bonus
    $0 + $286,293 related
    Other
    $0 + $86,708 related
    Deferred
    $0 + $130,929 related
    Nontaxable benefits
    $0 + $34,634 related
    Filer's total
    $0 + $1,128,816 related

  • Patel Chetan P MD

    TRUSTEE

    Total calculated
    $834,854
    From this org
    $0
    From related orgs
    $795,960
    Other
    $38,894
    Hours/week
    2 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $688,989 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $6,971 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $25,694 related
    Filer's total
    $0 + $834,854 related

  • Cicero Richard

    TRUSTEE (EX-OFFICIO)

    Total calculated
    $582,100
    From this org
    $0
    From related orgs
    $486,999
    Other
    $95,101
    Hours/week
    2 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $326,905 related
    Bonus
    $0 + $130,992 related
    Other
    $0 + $29,102 related
    Deferred
    $0 + $77,001 related
    Nontaxable benefits
    $0 + $18,100 related
    Filer's total
    $0 + $582,100 related

  • Tadese Tinu MD

    TRUSTEE (EX-OFFICIO) (END 10/24)

    Total calculated
    $406,351
    From this org
    $0
    From related orgs
    $356,486
    Other
    $49,865
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,821 related
    Bonus
    $0 + $55,729 related
    Other
    $0 + $19,936 related
    Deferred
    $0 + $19,612 related
    Nontaxable benefits
    $0 + $30,253 related
    Filer's total
    $0 + $406,351 related

  • Combs Bridget MD

    TRUSTEE/SECRETARY

    Total calculated
    $286,212
    From this org
    $0
    From related orgs
    $260,286
    Other
    $25,926
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $259,576 related
    Bonus
    $0
    Other
    $0 + $710 related
    Deferred
    $0 + $17,074 related
    Nontaxable benefits
    $0 + $8,852 related
    Filer's total
    $0 + $286,212 related

  • Baumberger Ronald

    TRUSTEE/VICE CHAIR (END 07/24)

    Total calculated
    $0
    Hours/week
    2

  • Cahill Timothy A

    TRUSTEE/TREASURER (END 03/24)

    Total calculated
    $0
    Hours/week
    2

  • Lingenfelter Andrew

    TRUSTEE/VICE-CHAIR (BEG 09/24)

    Total calculated
    $0
    Hours/week
    2

  • Thompson Kathleen

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Bileci-Cocca Amy

    TRUSTEE (END 09/24)

    Total calculated
    $0
    Hours/week
    2

  • Flynn Oscar

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Guban Philip

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kochik George

    TRUSTEE (EX-OFFICIO)

    Total calculated
    $0
    Hours/week
    2

  • Nekic John

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Paganini Raymond J

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Perrico Michael A

    TRUSTEE (END 01/24)

    Total calculated
    $0
    Hours/week
    2

  • Tullai-McGuinness Susan

    TRUSTEE (BEG 12/24)

    Total calculated
    $0
    Hours/week
    2

  • Flash Mark

    EXECUTIVE DIRECTOR (END 07/24)

    Total calculated
    $179,438
    From this org
    $0
    From related orgs
    $159,853
    Other
    $19,585
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $95,670 related
    Bonus
    $0 + $29,613 related
    Other
    $0 + $34,570 related
    Deferred
    $0 + $13,459 related
    Nontaxable benefits
    $0 + $6,126 related
    Filer's total
    $0 + $179,438 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
UNIVERSITY HOSPITALS HEALTH SYSTEM, INC., A RELATED ORGANIZATION, USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -FORM 990 OF OTHER ORGANIZATIONS -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4A:
UNDER A VOLUNTARY TERMINATION AGREEMENT ENTERED INTO BY THE EMPLOYEE AND THE ORGANIZATION OR UPON A QUALIFYING TERMINATION DEFINED AS AN INVOLUNTARY SEPARATION FROM SERVICE OTHER THAN FOR CAUSE, THE EMPLOYEE IS ENTITLED TO SEVERANCE PAY BASED UPON YEARS OF SERVICE. THE TERMS AND CONDITIONS TO RECEIVE SEVERANCE PAYMENTS REQUIRE THE EMPLOYEE TO SIGN A RELEASE OF CLAIMS FORM THAT COVERS ALL SITUATIONS SURROUNDING THE EMPLOYEE'S EMPLOYMENT AND SEPARATION. SEVERANCE PAYMENTS WERE MADE DURING THE YEAR TO THE FOLLOWING LISTED PERSON IN PART VII: FLASH, MARK - $17,248
PART I, LINE 4B:
ELIGIBLE EMPLOYEES PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER CODE 457(F). ANY AMOUNTS ULTIMATELY PAID UNDER THE PLAN TO AN ELIGIBLE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B (III) IN THE YEAR PAID. NO SUPPLEMENTAL NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants 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.

  • CONCORD MEDICAL CAMPUS PHYSICIAN BUILDING LLC

    OFFICE SPACE · OH

  • NEW MANNA CLG LLC

    MEDICAL SERVICES · OH

  • SAMARITAN REGIONAL PAIN MANAGEMENT LLC

    MEDICAL SERVICES · OH

  • UH VALUEHEALTH HOLDINGS LLC

    HOLDING COMPANY · OH

  • UHHS ENDOSCOPY HOLDINGS LLC

    MEDICAL SERVICES · OH

  • UNIVERSITY SUBURBAN REAL ESTATE LTD

    REAL ESTATE · OH

  • UNIVERSITY HOSPITALS URGENT CARE BY WELLSTREET LLC

    MEDICAL SERVICES · GA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • COMPREHENSIVE VENTURES UNLIMITED INC

    C · PHYSICIAN ADMINISTRATION · OH

  • EMH MEDICAL OFFICE BUILDING IN AVON INC

    C · REAL ESTATE · OH

  • EMH PROFESSIONAL SERVICES INC

    C · PHYSICIANS GROUP · OH

  • QUALITY CARE NETWORK INC

    C · MEDICAL MANAGEMENT · OH

  • USHC MANAGEMENT INC

    C · HOLDING COMPANY · OH

  • UHHS PROVIDER AND CENTRAL VERIFICATION ORGANIZATION INC

    C · MEDICAL MANAGEMENT · OH

  • UNIVERSITY HOSPITALS ACCOUNTABLE CARE ORGANIZATION INC

    C · ACCOUNT CARE · OH

  • UNIVERSITY HOSPITALS HOLDINGS INC

    C · HOLDING COMPANY · OH

  • UNIVERSITY HOSPITALS PHYSICIAN SERVICES INC

    C · PHYSICIAN ADMINISTRATION · OH

  • UNIVERSITY PRIMARY CARE PRACTICES INC

    C · PHYSICIAN GROUP · OH

  • WESTERN RESERVE ASSURANCE CO LTD SPC

    C · INSURANCE · CJ

  • ASTUTE SIGNALS INC

    C · TECHNOLOGY RESEARCH · OH

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202533179349306188

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