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Nonprofiteer
← LAKE REGION HEALTHCARE FOUNDATION

Form 990 for tax year 2024

Filed by LAKE REGION HEALTHCARE FOUNDATION.

Totals

Total revenue
$1,789,506
Total expenses
$2,099,582
Contributions and grants received
$1,538,452
Grants paid
$1,635,683
Program service revenue
$0
Investment income
$251,054
Other revenue
$0
Total assets, end of year
$5,331,653
Total liabilities, end of year
$150
Net assets or fund balances, end of year
$5,331,503
Program services expenses (Part IX)
$2,069,496
Management and general expenses
$30,086
Fundraising expenses
$0
Program service expenses (Part III)
$2,069,496

Program services were 98.6% 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

    $153,295

  • 1f · All other contributions, gifts and grants

    $1,385,157

  • 3 · Investment income

    total $174,165 · excluded $174,165

  • 7a · Gross sales of assets other than inventory

    securities $908,312

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

    securities $831,423

  • 7c · Gain or loss

    securities $76,889

  • 7d · Net gain or loss

    total $76,889 · excluded $76,889

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,532,766 · program services $1,532,766

  • 2 · Grants to domestic individuals

    total $102,917 · program services $102,917

  • 11c · Fees: accounting

    total $5,739 · management and general $5,739

  • 11f · Fees: investment management

    total $10,291 · management and general $10,291

  • 11g · Fees: other

    total $353,328 · program services $353,328

  • 13 · Office expenses

    total $14,056 · management and general $14,056

  • 17 · Travel

    total $7,911 · program services $7,911

  • 24a · Other expenses: BAD DEBT

    total $47,000 · program services $47,000

  • 24b · Other expenses: MISCELLANEOUS

    total $17,887 · program services $17,887

  • 24c · Other expenses: LICENSES

    total $7,248 · program services $7,248

  • 24d · Other expenses: SERVICE CHARGE

    total $439 · program services $439

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,309 · end of year $130,432

  • 2 · Savings and temporary cash investments

    beginning of year $894,807 · end of year $435,231

  • 3 · Pledges and grants receivable

    beginning of year $57,664 · end of year $10,664

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,296 · end of year $47,738

  • 11 · Investments: publicly traded securities

    beginning of year $4,133,860 · end of year $4,670,434

  • 15 · Other assets

    beginning of year $0 · end of year $37,154

  • 17 · Accounts payable and accrued expenses

    end of year $150

  • 25 · Other liabilities

    beginning of year $966 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $3,705,834 · end of year $4,084,769

  • 28 · Net assets with donor restrictions

    beginning of year $1,620,136 · end of year $1,246,734

Mission and programs · 2024

Mission

THE MISSION OF LAKE REGION HEALTHCARE FOUNDATION IS TO GATHER, STEWARD AND DISTRIBUTE RESOURCES NEEDED TO SUPPORT AND ADVANCE THE MISSION OF LAKE REGION HEALTHCARE AND ITS AFFILIATES.

  • LAKE REGION HEALTHCARE FOUNDATION RECEIVED DONATIONS AND MEMORIALS FROM INDIVIDUALS AND BUSINESSES. IT ALSO RECEIVES PLEDGES AND PAYMENTS OF THOSE PLEDGES. THE FOUNDATION USES ITS FUNDS FOR A VARIETY OF PURPOSES WHICH AID LAKE REGION HEALTHCARE AND THE COMMUNITY IN PROVIDING QUALITY HEALTHCARE AND SUSTAINING HEALTHCARE CLOSE TO HOME.

    Expenses $2,069,496 · Grants $1,635,683

As filed on the 2024 return.

Listed in Part VII

  • ANDREW YAGGIE

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    2

  • DIC PICKETT

    DIRECTOR/SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    2

  • MARY BRESSLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JASMINE SONMOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOAN GEDDE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KENT MATTSON

    CEO

    Total calculated
    $733,240
    From this org
    $0
    From related orgs
    $685,803
    Other
    $47,437
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $541,063 related
    Bonus
    $0 + $144,740 related
    Other
    $0
    Deferred
    $0 + $23,500 related
    Nontaxable benefits
    $0 + $23,937 related
    Filer's total
    $0 + $733,240 related

  • CHRIS JOHNSON

    CFO

    Total calculated
    $124,046
    From this org
    $0
    From related orgs
    $117,164
    Other
    $6,882
    Hours/week
    1 + 40 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

  • 6b · Pay contingent on a related organization's net earnings

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE CEO AND CFO COMPENSATION WAS PAID BY LAKE REGION HEALTHCARE CORPORATION, A RELATED ORGANIZATION. THE FOLLOWING WERE USED BY THE RELATED ORGANIZATION TO DETERMINE COMPENSATION: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. FORM 990 OF OTHER ORGANIZATIONS 4. WRITTEN EMPLOYMENT CONTRACT 5. COMPENSATION SURVEY OR STUDY 6. APPROVAL BY BOARD OF COMPENSATION COMMITTEE
PART I, LINE 6
LRHC HAS IMPLEMENTED AN INCENTIVE COMPENSATION PROGRAM FOR CERTAIN AND GOALS NEED TO BE MET IN ORDER FOR THE COMPENSATION TO BE PAID OUT IN QUALITY METRICS, AND SUCCESSFUL IMPLEMENTATION OF STRATEGIC GOALS. THE DETERMINES ANY AMOUNTS OF COMPENSATION THAT IS AWARDED. EXECUTIVE LEADERSHIP POSITIONS WITHIN THE ORGANIZATION. CERTAIN MEASURES PART OR IN WHOLE, SUCH AS MEETING FINANCIAL PERFORMANCE EXPECTATIONS, EXECUTIVE COMMITTEE OF THE BOARD REVIEWS PERFORMANCE ANNUALLY AND DETERMINES ANY AMOUNTS OF COMPENSATION THAT IS AWARDED.

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
31 July 2026
IRS schema version
2024v5.5
Source object
202632269349302678

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