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Nonprofiteer
← LG NEWCORP INC

Form 990 for tax year 2024

Filed by LG NEWCORP INC.

Totals

Total revenue
$308,194,574
Total expenses
$258,631,124
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$173,612,635
Investment income
$107
Other revenue
$134,581,832
Total assets, end of year
$165,719,652
Total liabilities, end of year
$68,263,539
Net assets or fund balances, end of year
$97,456,113
Program services expenses (Part IX)
$167,331,169
Management and general expenses
$91,299,955
Fundraising expenses
$0
Program service expenses (Part III)
$167,331,169

Program services were 64.7% 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.

  • 2a · Program service revenue: NET PATIENT REVENUE

    total $173,276,261 · related or exempt $173,276,261

  • 2b · Program service revenue: NET PATIENT REVENUE (LAB RECEIPTS)

    total $336,374 · unrelated business $336,374

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $107 · excluded $107

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: EXECUTIVE OFFICE OF HEALTH AND HUMAN SERVICES

    total $126,953,082 · related or exempt $126,953,082

  • 11b · Other revenue: WAIVER/DSTI RECEIPTS

    total $4,472,409 · related or exempt $4,472,409

  • 11c · Other revenue: INSURANCE STOP LOSS

    total $3,060,549 · related or exempt $3,060,549

  • 11d · All other revenue

    total $95,792 · related or exempt $95,792 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $134,581,832

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $97,774,480 · program services $82,688,972 · management and general $15,085,508

  • 9 · Other employee benefits

    total $19,170,448 · program services $16,212,662 · management and general $2,957,786

  • 10 · Payroll taxes

    total $8,142,007 · program services $6,885,786 · management and general $1,256,221

  • 11a · Fees: management

    total $38,093,311 · program services $17,563,209 · management and general $20,530,102

  • 11b · Fees: legal

    total $389,498 · management and general $389,498

  • 11d · Fees: lobbying

    total $14,660 · management and general $14,660

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $1,095 · management and general $1,095

  • 13 · Office expenses

    total $422,256 · program services $394,354 · management and general $27,902

  • 14 · Information technology

    total $2,641,024 · program services $49,024 · management and general $2,592,000

  • 16 · Occupancy

    total $3,163,180 · program services $59,988 · management and general $3,103,192

  • 17 · Travel

    total $1,018 · program services $598 · management and general $420

  • 22 · Depreciation, depletion and amortization

    total $6,163,194 · management and general $6,163,194

  • 23 · Insurance

    total $2,142,106 · management and general $2,142,106

  • 24a · Other expenses: HEALTH SAFETY NET ASSESSMENT

    total $22,080,000 · management and general $22,080,000

  • 24b · Other expenses: SUPPLIES AND EQUIPMENT

    total $19,436,064 · program services $19,353,627 · management and general $82,437

  • 24c · Other expenses: ALLOCATED EXPENSES FROM LGH

    total $15,292,511 · program services $3,713,828 · management and general $11,578,683

  • 24d · Other expenses: PHYSICIAN FEES

    total $8,800,900 · program services $8,318,598 · management and general $482,302

  • 24e · All other expenses

    total $14,903,372 · program services $12,090,523 · management and general $2,812,849 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $8,866,404

  • 4 · Accounts receivable

    end of year $23,558,939

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 8 · Inventories for sale or use

    end of year $3,070,530

  • 9 · Prepaid expenses and deferred charges

    end of year $521,492

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

    $86,930,849

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

    $6,163,194

  • 10c · Land, buildings and equipment, net

    end of year $80,767,655

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $48,934,632

  • 17 · Accounts payable and accrued expenses

    end of year $36,227,200

  • 19 · Deferred revenue

    end of year $17,000,000

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $15,036,339

  • 27 · Net assets without donor restrictions

    end of year $97,456,113

Mission and programs · 2024

Mission

TO OPERATE AND MAINTAIN AN ACUTE CARE GENERAL HOSPITAL. PROVIDE APPROPRIATE HOSPITAL AND OTHER RELATED HEALTH SERVICES TO ALL PATIENTS REGARDLESS OF RACE, COLOR, CREED OR NATIONAL ORIGIN. PROVIDE ACCESS TO MEDICALLY NECESSARY SERVICES FOR AREA RESIDENTS REGARDLESS OF ABILITY TO PAY. ASSURE THE ONGOING PROCESS OF CONTINUOUSLY IMPROVING PATIENT CARE QUALITY.

Activities or mission (Part I)

ACUTE CARE COMMUNITY HOSPITAL PROVIDING INPATIENT AND OUTPATIENT HEALTH SERVICES TO THE GENERAL PUBLIC.

  • INPATIENT HEALTHCARE SERVICES - PROVIDING INPATIENT SERVICES CONSISTENT WITH OUR CORE VALUES BY PROVIDING ACCESS TO COMPREHENSIVE, HIGH QUALITY, COMPASSIONATE, AND EFFICIENT HEALTHCARE SERVICES. MERRIMACK HEALTH METHUEN HOSPITAL AND MERRIMACK HEALTH HAVERHILL HOSPITAL MAKE UP TWO CAMPUSES THAT COMBINE TO MAKE A 310 BED HOSPITAL THAT PROVIDED 46,390 PATIENT DAYS OF INPATIENT SERVICES WITH 9,447 DISCHARGES DURING FY 2025.

    Expenses $57,211,881 · Revenue $105,259,173

  • OUTPATIENT HEALTHCARE SERVICES - PROVIDING OUTPATIENT SERVICES CONSISTENT WITH OUR CORE VALUES BY PROVIDING ACCESS TO COMPREHENSIVE, HIGH QUALITY, COMPASSIONATE, AND EFFICIENT HEALTHCARE SERVICES. DURING FY 2025, MERRIMACK HEALTH METHUEN HOSPITAL AND MERRIMACK HEALTH HAVERHILL HOSPITAL MAKE UP TWO CAMPUSES THAT HAD 107,548 OUTPATIENT VISITS.

    Expenses $36,969,562 · Revenue $68,017,088

  • OTHER PROGRAM SERVICE REVENUE PRIMARILY CONSISTS OF DSTI WAIVER FUNDS, AND SUPPLEMENTAL PAYMENT FROM EXECUTIVE OFFICE OF HEALTH AND HUMAN SERVICES.

    Expenses $73,149,726 · Revenue $134,581,832

As filed on the 2024 return.

Listed in Part VII

  • Abha Agrawal

    PRESIDENT & CEO (UNTIL 02/2025)

    Total calculated
    $923,247
    From this org
    $0
    From related orgs
    $893,147
    Other
    $30,100
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $730,147 related
    Bonus
    $0 + $163,000 related
    Other
    $0
    Deferred
    $0 + $29,500 related
    Nontaxable benefits
    $0 + $600 related
    Filer's total
    $0 + $923,247 related

  • Carol Powers

    SECRETARY/CLERK

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Diana L Richardson

    PRESIDENT & CEO (AS OF 04/2025)

    Total calculated
    $0
    Hours/week
    1 + 54 related

  • Laurel Sweeney

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Rosemarie Day

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Cynthia Fitzgerald

    INTERIM CFO (UNTIL 12/2024)

    Total calculated
    $179,850
    From this org
    $0
    From related orgs
    $179,850
    Other
    $0
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,850 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $179,850 related

  • John H Whitlock Jr

    SVP - CFO (AS OF 04/2025)

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Lisa Crutchfield

    CORP ASST SEC/CHRO HR (UNTIL 04/2025)

    Total calculated
    $403,608
    From this org
    $0
    From related orgs
    $370,877
    Other
    $32,731
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,919 related
    Bonus
    $0 + $43,500 related
    Other
    $0 + $26,458 related
    Deferred
    $0 + $32,131 related
    Nontaxable benefits
    $0 + $600 related
    Filer's total
    $0 + $403,608 related

  • Robin Hynds

    INTERIM PRESIDENT & CEO (02/2025 - 04/2025)

    Total calculated
    $554,364
    From this org
    $0
    From related orgs
    $517,092
    Other
    $37,272
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $436,541 related
    Bonus
    $0 + $62,550 related
    Other
    $0 + $18,001 related
    Deferred
    $0 + $35,404 related
    Nontaxable benefits
    $0 + $1,868 related
    Filer's total
    $0 + $554,364 related

  • Steve Roach

    INTERIM CFO (12/2024 - 03/2025)

    Total calculated
    $0
    Hours/week
    1 + 54 related

  • Anthony Alley

    CHIEF NURSE EXECUTIVE AND CQO

    Total calculated
    $529,051
    From this org
    $0
    From related orgs
    $480,074
    Other
    $48,977
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $382,297 related
    Bonus
    $0 + $53,250 related
    Other
    $0 + $44,527 related
    Deferred
    $0 + $29,900 related
    Nontaxable benefits
    $0 + $19,077 related
    Filer's total
    $0 + $529,051 related

  • George Kondylis MD

    CHIEF PHYSICIAN EXECUTIVE AND CMO

    Total calculated
    $547,810
    From this org
    $0
    From related orgs
    $490,453
    Other
    $57,357
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $410,952 related
    Bonus
    $0 + $61,500 related
    Other
    $0 + $18,001 related
    Deferred
    $0 + $32,900 related
    Nontaxable benefits
    $0 + $24,457 related
    Filer's total
    $0 + $547,810 related

  • William Sullivan

    FORMER OFFICER

    Total calculated
    $225,545
    From this org
    $0
    From related orgs
    $193,120
    Other
    $32,425
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $193,120 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,196 related
    Nontaxable benefits
    $0 + $11,229 related
    Filer's total
    $0 + $225,545 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)

SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
THE CEO/PRESIDENT OF LG NEWCORP, INC. (D/B/A MERRIMACK HEALTH METHUEN HOSPITAL AND MERRIMACK HEALTH HAVERHILL HOSPITAL) IS 100% PAID THROUGH ITS PARENT COMPANY, LAWRENCE GENERAL HOSPITAL (D/B/A MERRIMACK HEALTH LAWRENCE HOSPITAL). THE CEO'S COMPENSATION IS ESTABLISHED BY THE FOLLOWING METHODS: (A) COMPENSATION COMMITTEE, (B) INDEPENDENT COMPENSATION CONSULTANT, (C) FORM 990 OF OTHER ORGANIZATIONS, (D) WRITTEN EMPLOYMENT CONTRACT, (E) COMPENSATION SURVEY AND (F) APPROVAL BY AN EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES.
SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
INDIVIDUALS PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. EMPLOYER DISTRIBUTIONS ARE INCLUDED IN COMPENSATION ON SCHEDULE J, PART II, COLUMN (B)(III). DISTRIBUTIONS WERE MADE TO THE FOLLOWING INDIVIDUALS DURING 2024: ROBIN HYNDS - $18,001 LISA CRUTCHFIELD - $26,458 GEORGE KONDYLIS, MD - $18,001 ANTHONY ALLEY - $44,527

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.

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.

  • MERRIMACK VALLEY IN MOTION LLC

    N/A · MGMT SERVICES · MA

    Directly controlled by NA

Related corporations and trusts

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

  • LGH HEALTH ENTERPRISES INC

    C CORPORATION · HEALTHCARE · MA

    Directly controlled by NA

  • LGH PHYSICIAN ASSOCIATES PC

    C CORPORATION · HEALTHCARE · MA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.1
Source object
202622269349301442

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