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Nonprofiteer
← LAKELAND REGIONAL MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by LAKELAND REGIONAL MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$2,741,180
Total expenses
$2,898,684
Contributions and grants received
$2,205,038
Grants paid
$2,001,336
Program service revenue
$0
Investment income
$190,634
Other revenue
$345,508
Total assets, end of year
$45,532,088
Total liabilities, end of year
$194,909
Net assets or fund balances, end of year
$45,337,179
Program services expenses (Part IX)
$2,001,336
Management and general expenses
$388,991
Fundraising expenses
$508,357
Program service expenses (Part III)
$2,001,336

Program services were 69.0% 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

    $70,312

  • 1f · All other contributions, gifts and grants

    $2,134,726

  • 3 · Investment income

    total $190,634 · excluded $190,634

  • 8a · Fundraising events: gross income

    $121,280

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

    $70,312

  • 8b · Fundraising events: direct expenses

    $191,251

  • 8c · Net income from fundraising events

    total -$69,971 · excluded -$69,971

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

    total $415,479 · related or exempt $415,479

  • 11e · Other revenue, total

    $415,479

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,001,336 · program services $2,001,336

  • 7 · Other salaries and wages

    total $588,566 · management and general $294,283 · fundraising $294,283

  • 13 · Office expenses

    total $11,145 · management and general $11,145

  • 17 · Travel

    total $3,237 · management and general $3,237

  • 19 · Conferences, conventions and meetings

    total $4,147 · management and general $4,147

  • 24a · Other expenses: Prospective Donor Culti

    total $167,108 · fundraising $167,108

  • 24b · Other expenses: Special Events/Fundrais

    total $46,966 · fundraising $46,966

  • 24c · Other expenses: Charitable Gift Annuity

    total $25,667 · management and general $25,667

  • 24d · Other expenses: Donor Recognition

    total $1,483 · management and general $1,483

  • 24e · All other expenses

    total $49,029 · management and general $49,029

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,047,226 · end of year $6,763,853

  • 3 · Pledges and grants receivable

    beginning of year $23,582,177 · end of year $17,116,715

  • 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 $17,824,087 · end of year $21,483,952

  • 12 · Investments: other securities

    beginning of year $161,665 · end of year $167,568

  • 17 · Accounts payable and accrued expenses

    beginning of year $84,383 · end of year $194,827

  • 18 · Grants payable

    beginning of year $130 · end of year $82

  • 27 · Net assets without donor restrictions

    beginning of year $8,901,619 · end of year $11,701,073

  • 28 · Net assets with donor restrictions

    beginning of year $33,629,023 · end of year $33,636,106

Mission and programs · 2023

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 $2,001,336 · Grants $2,001,336 · Revenue $415,479

As filed on the 2023 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
    $895,292
    From this org
    $0
    From related orgs
    $747,140
    Other
    $148,152
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $582,737 related
    Bonus
    $0 + $64,240 related
    Other
    $0 + $100,163 related
    Deferred
    $0 + $115,446 related
    Nontaxable benefits
    $0 + $32,706 related
    Filer's total
    $0 + $895,292 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
    $1,514,784
    From this org
    $0
    From related orgs
    $1,292,236
    Other
    $222,548
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,017,558 related
    Bonus
    $0 + $192,169 related
    Other
    $0 + $82,509 related
    Deferred
    $0 + $199,312 related
    Nontaxable benefits
    $0 + $23,236 related
    Filer's total
    $0 + $1,514,784 related

  • Timothy Boynton

    SVP - Development/Chief Public Relations and Commu

    Total calculated
    $541,239
    From this org
    $0
    From related orgs
    $441,305
    Other
    $99,934
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $334,876 related
    Bonus
    $0 + $39,477 related
    Other
    $0 + $66,952 related
    Deferred
    $0 + $74,582 related
    Nontaxable benefits
    $0 + $25,352 related
    Filer's total
    $0 + $541,239 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 $82,086 of taxable benefits during calendar year 2023. This amount is included in Part II Column (B)(iii). She had an additional $182,812 of nontaxable benefits accrue during calendar year 2023. 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 $100,138 of taxable benefits during calendar year 2023. This amount is included in Part II Column (B)(iii). He had an additional $98,946 of nontaxable benefits accrue during calendar year 2023. 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 $66,877 of taxable benefits during calendar year 2023. This amount is included in Part II Column (B)(iii). He had an additional $59,332 of nontaxable benefits accrue during calendar year 2023. 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
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202532279349301633

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