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Nonprofiteer
← LAKEWOOD HEALTH SYSTEM

Form 990 for tax year 2024

Filed by LAKEWOOD HEALTH SYSTEM.

Totals

Total revenue
$162,872,023
Total expenses
$160,305,049
Contributions and grants received
$919,280
Grants paid
$0
Program service revenue
$159,772,005
Investment income
$1,076,612
Other revenue
$1,104,126
Total assets, end of year
$206,834,353
Total liabilities, end of year
$98,323,850
Net assets or fund balances, end of year
$108,510,503
Program services expenses (Part IX)
$135,706,088
Management and general expenses
$24,598,961
Fundraising expenses
$0
Program service expenses (Part III)
$135,706,088

Program services were 84.7% 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

    $50,050

  • 1e · Government grants (contributions)

    $687,915

  • 1f · All other contributions, gifts and grants

    $181,315

  • 2a · Program service revenue: NET PATIENT AND RESIDENT SERVICE

    total $157,247,964 · related or exempt $157,247,964

  • 2b · Program service revenue: 340B PHARMACY

    total $957,184 · related or exempt $957,184

  • 2c · Program service revenue: OCCUPATIONAL HEALTH

    total $485,371 · related or exempt $485,371

  • 2d · Program service revenue: RENT REVENUE

    total $246,336 · related or exempt $246,336

  • 2f · All other program service revenue

    total $835,150 · related or exempt $835,150

  • 3 · Investment income

    total $1,099,979 · excluded $1,099,979

  • 7a · Gross sales of assets other than inventory

    other assets $12,680

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

    other assets $36,047

  • 7c · Gain or loss

    other assets -$23,367

  • 7d · Net gain or loss

    total -$23,367 · excluded -$23,367

  • 8a · Fundraising events: gross income

    $33,036

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

    $50,050

  • 8b · Fundraising events: direct expenses

    $21,963

  • 8c · Net income from fundraising events

    total $11,073 · excluded $11,073

  • 9a · Gaming: gross income

    $21,900

  • 9b · Gaming: direct expenses

    $12,350

  • 9c · Net income from gaming

    total $9,550 · excluded $9,550

  • 10a · Gross sales of inventory

    $141,990

  • 10b · Cost of goods sold

    $80,628

  • 10c · Net income from sales of inventory

    total $61,362 · excluded $61,362

  • 11a · Other revenue: FOOD SERVICE

    total $558,894 · excluded $558,894

  • 11b · Other revenue: EHR INCENTIVE

    total $463,247 · related or exempt $463,247

  • 11e · Other revenue, total

    $1,022,141

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,318,503 · management and general $2,318,503

  • 7 · Other salaries and wages

    total $54,477,024 · program services $44,238,477 · management and general $10,238,547

  • 8 · Pension plan contributions

    total $2,079,193 · program services $1,636,282 · management and general $442,911

  • 9 · Other employee benefits

    total $9,827,571 · program services $7,709,378 · management and general $2,118,193

  • 10 · Payroll taxes

    total $3,981,581 · program services $3,088,991 · management and general $892,590

  • 11b · Fees: legal

    total $176,844 · management and general $176,844

  • 11c · Fees: accounting

    total $204,986 · management and general $204,986

  • 11d · Fees: lobbying

    total $1,103 · management and general $1,103

  • 11g · Fees: other

    total $31,227,046 · program services $29,862,842 · management and general $1,364,204

  • 12 · Advertising and promotion

    total $460,262 · program services $30,118 · management and general $430,144

  • 13 · Office expenses

    total $26,532,305 · program services $24,401,248 · management and general $2,131,057

  • 14 · Information technology

    total $1,099,029 · management and general $1,099,029

  • 16 · Occupancy

    total $7,001,416 · program services $5,297,011 · management and general $1,704,405

  • 17 · Travel

    total $411,023 · program services $335,276 · management and general $75,747

  • 19 · Conferences, conventions and meetings

    total $237,287 · program services $202,264 · management and general $35,023

  • 20 · Interest

    total $1,259,617 · program services $1,166,742 · management and general $92,875

  • 22 · Depreciation, depletion and amortization

    total $8,130,009 · program services $8,093,709 · management and general $36,300

  • 23 · Insurance

    total $632,963 · management and general $632,963

  • 24a · Other expenses: OPERATING ROOM SUPPLIES

    total $3,565,362 · program services $3,565,362

  • 24b · Other expenses: MN CARE TAX

    total $2,295,168 · program services $2,295,168

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $1,043,160 · program services $558,107 · management and general $485,053

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $927,389 · program services $927,389

  • 24e · All other expenses

    total $2,416,208 · program services $2,297,724 · management and general $118,484

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,112 · end of year $6,274

  • 2 · Savings and temporary cash investments

    beginning of year $16,916,606 · end of year $33,380,340

  • 4 · Accounts receivable

    beginning of year $28,864,729 · end of year $28,085,451

  • 7 · Other notes and loans receivable

    beginning of year $277,077 · end of year $166,942

  • 8 · Inventories for sale or use

    beginning of year $3,130,833 · end of year $3,703,508

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,531,878 · end of year $11,600,685

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

    $175,191,177

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

    $86,218,745

  • 10c · Land, buildings and equipment, net

    beginning of year $70,352,239 · end of year $88,972,432

  • 11 · Investments: publicly traded securities

    beginning of year $38,206,204 · end of year $38,041,814

  • 12 · Investments: other securities

    beginning of year $1,540,606 · end of year $1,807,344

  • 14 · Intangible assets

    beginning of year $0 · end of year $1,069,563

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,728,513 · end of year $10,842,122

  • 19 · Deferred revenue

    beginning of year $630,373 · end of year $745,641

  • 20 · Tax-exempt bond liabilities

    beginning of year $2,469,779 · end of year $2,293,435

  • 21 · Escrow or custodial account liability

    beginning of year $33,094 · end of year $31,431

  • 23 · Secured mortgages and notes payable

    beginning of year $39,607,702 · end of year $60,432,856

  • 25 · Other liabilities

    beginning of year $2,957,451 · end of year $23,978,365

  • 27 · Net assets without donor restrictions

    beginning of year $102,831,763 · end of year $106,866,608

  • 28 · Net assets with donor restrictions

    beginning of year $1,566,609 · end of year $1,643,895

Mission and programs · 2024

Mission

THE MISSION OF LAKEWOOD HEALTH SYSTEM IS TO PROVIDE QUALITY, PERSONALIZED HEALTHCARE FOR A LIFETIME.

Activities or mission (Part I)

TO PROVIDE QUALITY, PERSONALIZED HEALTHCARE FOR A LIFETIME.

  • HOSPITAL AND CLINICS -LAKEWOOD HEALTH SYSTEM (THE ORGANIZATION) OPERATES A 25-BED CRITICAL ACCESS HOSPITAL PROVIDING INPATIENT, OUTPATIENT, EMERGENCY, AND OTHER SPECIALTY HEALTH CARE SERVICES, INCLUDING A 10-BED GERIATRIC BEHAVIORAL HEALTH UNIT IN STAPLES, MINNESOTA. THE ORGANIZATION ALSO OPERATES RURAL HEALTH CLINICS LOCATED IN STAPLES, MOTLEY, PILLAGER, EAGLE BEND, AND BROWERVILLE, MINNESOTA. PHYSICIANS, PHYSICIANS' ASSISTANTS, AND NURSE PRACTITIONERS PROVIDE CLINIC PATIENTS WITH PRIMARY CARE AND OTHER HEALTH CARE SERVICES. IN ADDITION, THE ORGANIZATION OPERATES A DERMATOLOGY CLINIC IN SARTELL, MINNESOTA.THE ORGANIZATION PROVIDED FOR 3,808 INPATIENT HOSPITAL AND SWING-BED DAYS, 157 ICU DAYS, 643 INPATIENT GERIATRIC BEHAVIORAL HEALTH UNIT DAYS, 100,205 MEDICAL AND MENTAL HEALTH RURAL HEALTH CLINIC VISITS AND 9,799 DERMATOLOGY CLINIC VISITS.

    Expenses $121,841,497 · Revenue $139,774,624

  • SENIOR SERVICES -THE ORGANIZATION OPERATES A 100-BED, MEDICARE-CERTIFIED SKILLED NURSING FACILITY IN STAPLES, MINNESOTA, THAT PROVIDES LONG-TERM AND REHABILITATIVE CARE TO RESIDENTS. IN SEPTEMBER 2021, 13 BEDS WERE PUT ON LAYAWAY STATUS, REDUCING THE TOTAL SKILLED NURSING BEDS IN SERVICE FROM 100 TO 87. IN ADDITION TO SKILLED NURSING CARE, THE ORGANIZATION ALSO OPERATES HOME HEALTH CARE AND HOSPICE PROGRAMS TO PROVIDE NURSING CARE AND ASSISTANCE AT THE PATIENT'S RESIDENCE. ASSISTED LIVING AND INDEPENDENT LIVING FACILITIES OPERATED BY THE ORGANIZATION, LOCATED IN STAPLES, MINNESOTA, PROVIDE COMBINATIONS OF HEALTH-RELATED AND SUPPORTIVE SERVICES FOR TENANTS. THE ORGANIZATION PROVIDED FOR 27,999 RESIDENT DAYS IN THE NURSING HOME AND 686 ASSISTED LIVING UNIT RENTED MONTHS.

    Expenses $13,864,591 · Revenue $20,460,628

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

Listed in Part VII

  • LISA BJERGA

    CEO & PRESIDENT

    Total calculated
    $649,186
    From this org
    $612,785
    From related orgs
    $0
    Other
    $36,401
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $441,862
    Bonus
    $72,789
    Other
    $98,134
    Deferred
    $7,665
    Nontaxable benefits
    $28,736
    Filer's total
    $649,186

  • MARY THEURER

    SECRETARY

    Total calculated
    $3,172
    From this org
    $3,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CURT MCILRAVY

    CHAIRMAN

    Total calculated
    $2,496
    From this org
    $2,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • JEF CICHOS

    VICE CHAIRMAN

    Total calculated
    $2,080
    From this org
    $2,080
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • NORMAN KRAUSE

    TREASURER

    Total calculated
    $1,976
    From this org
    $1,976
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • ROBERT MUELLER

    BOARD MEMBER

    Total calculated
    $1,820
    From this org
    $1,820
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • RYAN KRAY MD

    BOARD MEMBER (THRU 06/24)

    Total calculated
    $936
    From this org
    $936
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • KAITLYN SCHOECK MD

    BOARD MEMBER

    Total calculated
    $676
    From this org
    $676
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • STEPHANIE JORDAHL

    BOARD MEMBER (THRU 06/24)

    Total calculated
    $624
    From this org
    $624
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • LINDSAY LEVEILLE MD

    BOARD MEMBER

    Total calculated
    $572
    From this org
    $572
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • KEVIN NELSON

    TREASURER (THRU 06/24)

    Total calculated
    $468
    From this org
    $468
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • DAN DOUTS

    BOARD MEMBER

    Total calculated
    $468
    From this org
    $468
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • SARAH JENNISON

    BOARD MEMBER

    Total calculated
    $416
    From this org
    $416
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • WADE SWENSON MD

    BOARD MEMBER

    Total calculated
    $260
    From this org
    $260
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CHRISTINE ALBRECHT

    CHIEF MEDICAL OFFICER

    Total calculated
    $563,235
    From this org
    $563,235
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $563,235
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $563,235

  • JOSEPH REYCRAFT

    CFO

    Total calculated
    $282,046
    From this org
    $265,529
    From related orgs
    $0
    Other
    $16,517
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,475
    Bonus
    $16,890
    Other
    $164
    Deferred
    $3,550
    Nontaxable benefits
    $12,967
    Filer's total
    $282,046

  • CRAIG WOLHOWE

    VP - CLINICS & MEDICAL PROVIDERS

    Total calculated
    $342,918
    From this org
    $297,567
    From related orgs
    $0
    Other
    $45,351
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $276,749
    Bonus
    $20,256
    Other
    $562
    Deferred
    $5,354
    Nontaxable benefits
    $39,997
    Filer's total
    $342,918

  • LYNN RICE

    VP OF SUPPORT SERVICES

    Total calculated
    $308,463
    From this org
    $286,187
    From related orgs
    $0
    Other
    $22,276
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,030
    Bonus
    $19,012
    Other
    $145
    Deferred
    $8,721
    Nontaxable benefits
    $13,555
    Filer's total
    $308,463

  • CORRINE NEISESS

    VP OF NURSING (THRU 06/24)

    Total calculated
    $172,655
    From this org
    $153,797
    From related orgs
    $0
    Other
    $18,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,992
    Bonus
    $13,630
    Other
    $175
    Deferred
    $4,617
    Nontaxable benefits
    $14,241
    Filer's total
    $172,655

  • SARAH BAUMGARTNER

    VP OF NURSING (AS OF 12/24)

    Total calculated
    $195,225
    From this org
    $152,073
    From related orgs
    $0
    Other
    $43,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,116
    Bonus
    $3,096
    Other
    $8,861
    Deferred
    $5,000
    Nontaxable benefits
    $38,152
    Filer's total
    $195,225

  • SCOTT MANEY

    CRNA

    Total calculated
    $392,110
    From this org
    $353,089
    From related orgs
    $0
    Other
    $39,021
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $352,589
    Bonus
    $500
    Other
    $0
    Deferred
    $8,179
    Nontaxable benefits
    $30,842
    Filer's total
    $392,110

  • JASON ALEXANDER

    CRNA

    Total calculated
    $366,552
    From this org
    $340,170
    From related orgs
    $0
    Other
    $26,382
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,580
    Bonus
    $490
    Other
    $100
    Deferred
    $2,468
    Nontaxable benefits
    $23,914
    Filer's total
    $366,552

  • CODY CRAWFORD

    CRNA

    Total calculated
    $395,527
    From this org
    $340,633
    From related orgs
    $0
    Other
    $54,894
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $335,373
    Bonus
    $5,260
    Other
    $0
    Deferred
    $9,892
    Nontaxable benefits
    $45,002
    Filer's total
    $395,527

  • DANIEL LUND

    CRNA

    Total calculated
    $379,740
    From this org
    $330,825
    From related orgs
    $0
    Other
    $48,915
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,300
    Bonus
    $500
    Other
    $25
    Deferred
    $10,194
    Nontaxable benefits
    $38,721
    Filer's total
    $379,740

  • MATTHEW SINGH

    CRNA

    Total calculated
    $281,026
    From this org
    $245,783
    From related orgs
    $0
    Other
    $35,243
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,133
    Bonus
    $500
    Other
    $150
    Deferred
    $3,841
    Nontaxable benefits
    $31,402
    Filer's total
    $281,026

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

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

SCHEDULE J, PART II & FORM 990, PART VII, SECTION A, LINE 5
CHRISTINE ALBRECHT IS THE HOSPITAL'S CHIEF MEDICAL OFFICER. SHE ALSO PRACTICES AS AN EMPLOYEE OF LAKEWOOD CLINIC PA WHICH IS AN UNRELATED ORGANIZATION (SEE RELATIONSHIP FURTHER DESCRIBED ON SCHEDULE L) . THE COMPENSATION REPORTED ON PART VII OF THE 990 AND SCHEDULE J, PART II IS REPRESENTATIVE OF HER REPORTED COMPENSATION IN TOTAL FROM LAKEWOOD CLINIC WHICH INCLUDES HER CONTRIBUTIONS TO LAKEWOOD AS CHIEF MEDICAL OFFICER.

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

No itemized grants to organizations on this return.

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.

  • STAPLESMOTLEY HOUSING GROUP LLC

    RELATED · HOME & ECONOMIC DEVELOPMENT · MN · 70% owned · share of income -$45,835 · share of assets $270,660 · general or managing partner

    Directly controlled by LAKEWOOD HEALTH SYSTEM

  • LHS-TCO HOUSING LLC

    RELATED · HOUSING · MN · 50% owned · share of income -$7,718 · share of assets $151,226 · general or managing partner

    Directly controlled by LAKEWOOD HEALTH SYSTEM

  • TCO THERAPY

    RELATED · THERAPY · MN · 50% owned · share of income -$35,020 · share of assets -$35,480 · general or managing partner

    Directly controlled by LAKEWOOD HEALTH SYSTEM

Provenance

Return type
form_990
Tax year
2024
Filed
23 October 2025
IRS schema version
2024v5.2
Source object
202502969349300625

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