Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $125,900

• 1d · Related organizations

  $133,443

• 1f · All other contributions, gifts and grants

  $740,580

• 3 · Investment income

  total $136,154 · excluded $136,154

• 7a · Gross sales of assets other than inventory

  securities $1,477,729

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

  securities $1,213,165

• 7c · Gain or loss

  securities $264,564

• 7d · Net gain or loss

  total $264,564 · excluded $264,564

• 8a · Fundraising events: gross income

  $5,400

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

  $125,900

• 8b · Fundraising events: direct expenses

  $18,629

• 8c · Net income from fundraising events

  total -$13,229 · excluded -$13,229

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $257,970 · program services $257,970

• 2 · Grants to domestic individuals

  total $32,421 · program services $32,421

• 11c · Fees: accounting

  total $7,965 · management and general $7,965

• 11f · Fees: investment management

  total $9,537 · management and general $9,537

• 11g · Fees: other

  total $262,290 · program services $262,290

• 13 · Office expenses

  total $5,112 · management and general $5,112

• 17 · Travel

  total $11,615 · program services $11,615

• 24a · Other expenses: MISCELLANEOUS

  total $7,443 · program services $7,443

• 24b · Other expenses: LICENSES

  total $6,007 · program services $6,007

• 24c · Other expenses: SERVICE CHARGES

  total $449 · program services $449

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $285,225 · end of year $236,309

• 2 · Savings and temporary cash investments

  beginning of year $462,584 · end of year $894,807

• 3 · Pledges and grants receivable

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

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,400 · end of year $4,296

• 11 · Investments: publicly traded securities

  beginning of year $3,305,045 · end of year $4,133,860

• 15 · Other assets

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $3,428 · end of year $0

• 25 · Other liabilities

  beginning of year $22,919 · end of year $966

• 27 · Net assets without donor restrictions

  beginning of year $2,871,573 · end of year $3,705,834

• 28 · Net assets with donor restrictions

  beginning of year $1,214,998 · end of year $1,620,136

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.

Related corporations and trusts

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

• WEST CENTRAL LINEN SERVICES

  C · LAUNDRY AND LINEN · MN