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Nonprofiteer
← LAKELAND REGIONAL MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2024

Filed by LAKELAND REGIONAL MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$18,625,480
Total expenses
$11,246,056
Contributions and grants received
$15,193,468
Grants paid
$10,282,420
Program service revenue
$0
Investment income
$7,229,030
Other revenue
-$3,797,018
Total assets, end of year
$51,261,349
Total liabilities, end of year
$105,521
Net assets or fund balances, end of year
$51,155,828
Program services expenses (Part IX)
$10,282,420
Management and general expenses
$387,776
Fundraising expenses
$575,860
Program service expenses (Part III)
$10,282,420

Program services were 91.4% 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.

  • 1c · Fundraising events

    $168,557

  • 1f · All other contributions, gifts and grants

    $15,024,911

  • 3 · Investment income

    total $7,229,030 · excluded $7,229,030

  • 8a · Fundraising events: gross income

    $33,945

  • 8a · Fundraising events: contributions included on line 1c

    $168,557

  • 8b · Fundraising events: direct expenses

    $247,734

  • 8c · Net income from fundraising events

    total -$213,789 · excluded -$213,789

  • 11a · Other revenue: Change in NPV Discount on Pledges

    total -$3,583,229 · related or exempt -$3,583,229

  • 11e · Other revenue, total

    -$3,583,229

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,282,420 · program services $10,282,420

  • 7 · Other salaries and wages

    total $661,650 · management and general $330,825 · fundraising $330,825

  • 13 · Office expenses

    total $42,882 · management and general $42,882

  • 19 · Conferences, conventions and meetings

    total $538 · management and general $538

  • 24a · Other expenses: Special Events/Fundrais

    total $144,526 · fundraising $144,526

  • 24b · Other expenses: Prospective Donor Culti

    total $100,509 · fundraising $100,509

  • 24c · Other expenses: Donor Recognition

    total $1,666 · management and general $1,666

  • 24e · All other expenses

    total $11,865 · management and general $11,865

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,763,853 · end of year $1,743,475

  • 3 · Pledges and grants receivable

    beginning of year $17,116,715 · end of year $25,768,242

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

    $14,424

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

    $14,424

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $21,483,952 · end of year $23,574,498

  • 12 · Investments: other securities

    beginning of year $167,568 · end of year $175,134

  • 17 · Accounts payable and accrued expenses

    beginning of year $194,827 · end of year $105,521

  • 18 · Grants payable

    beginning of year $82 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $11,701,073 · end of year $14,537,095

  • 28 · Net assets with donor restrictions

    beginning of year $33,636,106 · end of year $36,618,733

Mission and programs · 2024

Mission

See schedule O for the organization's mission

Activities or mission (Part I)

The Lakeland Regional Health Foundation was created to ensure that additional resources are always available for the services that make Lakeland Regional Health (LRH) the healthcare provider of choice for Lakeland, Polk County and the surrounding communities. The Foundation provides for the important extras that make LRH special and frequently for the advances that keep LRH on the leading edge of care and technology.The Foundation's philosophy is one of involved, empowered philanthropy as we encourage donors: -To be hands on -To learn about and continue to follow the impact of their gifts -To help drive future philanthropy programs -To be partners with the Foundation in building awareness and in helping to improve community health

  • All of the Foundation's programs serve to further the quality of patient care at Lakeland Regional Health to deliver nationally recognized healthcare, strengthen the health of the community and advance the future of healthcare for those it serves.

    Expenses $10,282,420 · Grants $10,282,420 · Revenue -$3,583,229

As filed on the 2024 return.

Listed in Part VII

  • Brad Crenshaw

    Past Chair

    Total calculated
    $0
    Hours/week
    1

  • Robert Sorenson Jr

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Lance Green

    Secretary/Treasurer

    Total calculated
    $989,812
    From this org
    $0
    From related orgs
    $828,288
    Other
    $161,524
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $629,850 related
    Bonus
    $0 + $93,268 related
    Other
    $0 + $105,170 related
    Deferred
    $0 + $127,697 related
    Nontaxable benefits
    $0 + $33,827 related
    Filer's total
    $0 + $989,812 related

  • Nolen Bailey

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ashley Barnett

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dr Donna Bhisitkul

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael DelBovo Sr

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gregory Fancelli

    Director

    Total calculated
    $0
    Hours/week
    1

  • Justin Hollis

    Director

    Total calculated
    $0
    Hours/week
    1

  • Hamilton Hooks

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kim McKeel

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jaimi Miller

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Munson

    Director

    Total calculated
    $0
    Hours/week
    1

  • E Blake Paul

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dennis Odisho

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ashley Troutman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Danielle Drummond

    President/CEO of LRHS

    Total calculated
    $1,740,097
    From this org
    $0
    From related orgs
    $1,487,708
    Other
    $252,389
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,119,931 related
    Bonus
    $0 + $281,561 related
    Other
    $0 + $86,216 related
    Deferred
    $0 + $228,815 related
    Nontaxable benefits
    $0 + $23,574 related
    Filer's total
    $0 + $1,740,097 related

  • Timothy Boynton

    SVP - Development/Chief Public Relations

    Total calculated
    $599,924
    From this org
    $0
    From related orgs
    $492,000
    Other
    $107,924
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $366,035 related
    Bonus
    $0 + $55,720 related
    Other
    $0 + $70,245 related
    Deferred
    $0 + $81,690 related
    Nontaxable benefits
    $0 + $26,234 related
    Filer's total
    $0 + $599,924 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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 4b
Danielle Drummond - President and Chief Executive Officer - participated in a supplemental nonqualified deferred compensation plan. She had $86,191 of taxable benefits during calendar year 2024. This amount is included in Part II Column (B)(iii). She had an additional $211,565 of nontaxable benefits accrue during calendar year 2024. This amount is included in Part II Column C. Lance Green - Executive VP and Chief Financial Officer - participated in a supplemental nonqualified deferred compensation plan. He had $105,145 of taxable benefits during calendar year 2024. This amount is included in Part II Column (B)(iii). He had an additional $110,447 of nontaxable benefits accrue during calendar year 2024. This amount is included in Part II Column C. Timothy Boynton - SVP of Development and Chief Public Relations and Communications Officer - participated in a supplemental nonqualified deferred compensation plan. He had $70,220 of taxable benefits during calendar year 2024. This amount is included in Part II Column (B)(iii). He had an additional $64,440 of nontaxable benefits accrue during calendar year 2024. This amount is included in Part II Column C.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202622269349302187

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