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Nonprofiteer
← LAKE REGION HEALTHCARE CORPORATION

Form 990 for tax year 2022

Filed by LAKE REGION HEALTHCARE CORPORATION.

Totals

Total revenue
$19,665,807
Total expenses
$19,870,294
Contributions and grants received
$898,146
Grants paid
$1,380
Program service revenue
$18,335,685
Investment income
$113,233
Other revenue
$318,743
Total assets, end of year
$30,267,986
Total liabilities, end of year
$21,423,216
Net assets or fund balances, end of year
$8,844,770
Program services expenses (Part IX)
$16,510,219
Management and general expenses
$3,360,075
Fundraising expenses
$0
Program service expenses (Part III)
$16,510,219

Program services were 83.1% 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.

  • 1e · Government grants (contributions)

    $354,084

  • 1f · All other contributions, gifts and grants

    $544,062

  • 2a · Program service revenue: PATIENT SERVICE REVENUE

    total $17,533,300 · related or exempt $17,533,300

  • 2b · Program service revenue: PHARMACY 340B REVENUE

    total $802,385 · related or exempt $802,385

  • 3 · Investment income

    total $197,213 · excluded $197,213

  • 7a · Gross sales of assets other than inventory

    securities $317,077

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

    securities $398,082 · other assets $2,975

  • 7c · Gain or loss

    securities -$81,005 · other assets -$2,975

  • 7d · Net gain or loss

    total -$83,980 · excluded -$83,980

  • 11a · Other revenue: CAFETERIA REVENUE

    total $163,730 · excluded $163,730

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $74,088 · excluded $74,088

  • 11c · Other revenue: OUTSIDE SERVICES REVENUE

    total $65,737 · excluded $65,737

  • 11d · All other revenue

    total $15,188 · excluded $15,188

  • 11e · Other revenue, total

    $318,743

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,380 · program services $1,380

  • 7 · Other salaries and wages

    total $5,298,575 · program services $3,716,950 · management and general $1,581,625

  • 8 · Pension plan contributions

    total $50,069 · program services $35,124 · management and general $14,945

  • 9 · Other employee benefits

    total $735,439 · program services $514,807 · management and general $220,632

  • 10 · Payroll taxes

    total $384,922 · program services $270,028 · management and general $114,894

  • 11b · Fees: legal

    total $2,391 · management and general $2,391

  • 11c · Fees: accounting

    total $99,319 · management and general $99,319

  • 11g · Fees: other

    total $6,112,755 · program services $5,199,464 · management and general $913,291

  • 12 · Advertising and promotion

    total $84,354 · program services $59,175 · management and general $25,179

  • 13 · Office expenses

    total $581,284 · program services $407,778 · management and general $173,506

  • 16 · Occupancy

    total $568,307 · program services $487,130 · management and general $81,177

  • 17 · Travel

    total $47,451 · program services $43,950 · management and general $3,501

  • 20 · Interest

    total $710,002 · program services $594,757 · management and general $115,245

  • 22 · Depreciation, depletion and amortization

    total $1,585,003 · program services $1,570,633 · management and general $14,370

  • 23 · Insurance

    total $126,468 · program services $126,468

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $1,777,510 · program services $1,777,510

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $576,409 · program services $576,409

  • 24c · Other expenses: BAD DEBT

    total $356,979 · program services $356,979

  • 24d · Other expenses: RENT EXPENSE

    total $248,469 · program services $248,469

  • 24e · All other expenses

    total $523,208 · program services $523,208

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,115,902 · end of year $2,174,292

  • 2 · Savings and temporary cash investments

    beginning of year $1,059,848 · end of year $371,227

  • 4 · Accounts receivable

    beginning of year $3,645,430 · end of year $5,562,535

  • 8 · Inventories for sale or use

    beginning of year $222,513 · end of year $251,028

  • 9 · Prepaid expenses and deferred charges

    beginning of year $133,081 · end of year $99,937

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

    $32,846,913

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

    $17,847,471

  • 10c · Land, buildings and equipment, net

    beginning of year $15,075,066 · end of year $14,999,442

  • 11 · Investments: publicly traded securities

    beginning of year $2,553,149 · end of year $2,784,994

  • 12 · Investments: other securities

    beginning of year $39,854 · end of year $44,985

  • 15 · Other assets

    beginning of year $1,829,389 · end of year $3,979,546

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,771,286 · end of year $1,868,862

  • 23 · Secured mortgages and notes payable

    beginning of year $19,178,247 · end of year $19,188,761

  • 25 · Other liabilities

    beginning of year $0 · end of year $365,593

  • 27 · Net assets without donor restrictions

    beginning of year $8,433,696 · end of year $8,514,684

  • 28 · Net assets with donor restrictions

    beginning of year $291,003 · end of year $330,086

Mission and programs · 2022

Mission

WE PARTNER TO ENRICH LIFE THROUGH HEALTH.

  • PRAIRIE RIDGE HOSPITAL AND HEALTH SERVICES (PRHHS) MAINTAINS AND OPERATES A HOSPITAL AND AMBULATORY OUTPATIENT FACILITY FOR THE CARE AND TREATMENT OF THE SICK, DISEASED, DISABLED, AGED, OR INDIGENT PERSONS AND PARTICIPATES IN VARIOUS ACTIVITIES TO PROMOTE THE GENERAL HEALTH OF THE COMMUNITY. PRHHS OPERATES VARIOUS PROVIDER-BASED CLINICS IN ELBOW LAKE, MORRIS, ASHBY, EVANSVILLE, HOFFMAN, A SEPARATE PHYSICIAN CLINIC IN HERMAN, AND A PROVIDER-BASED SURGERY DEPARTMENT IN MORRIS, MINNESOTA.

    Expenses $16,510,219 · Grants $1,380 · Revenue $18,335,685

As filed on the 2022 return.

Listed in Part VII

  • Jay McNamar

    CHAIR

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Crystal Adams

    DIRECTOR

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5 + 6 related

  • Jeff Dreier

    DIRECTOR

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5 + 0.2 related

  • Jeanne Ennen

    DIRECTOR

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Richard Lambert

    VICE CHAIR/SECRETARY

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5 + 4 related

  • Dustin Sperr

    CHAIR

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Larry Goetzinger

    DIRECTOR

    Total calculated
    $770
    From this org
    $770
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5 + 4 related

  • Kent Mattson

    CEO

    Total calculated
    $649,482
    From this org
    $0
    From related orgs
    $510,000
    Other
    $139,482
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $121,850 related
    Nontaxable benefits
    $0 + $17,632 related
    Filer's total
    $0 + $649,482 related

  • Camie Patterson

    CFO

    Total calculated
    $548,873
    From this org
    $0
    From related orgs
    $531,347
    Other
    $17,526
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $376,555 related
    Bonus
    $0 + $154,792 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $17,526 related
    Filer's total
    $0 + $548,873 related

  • Danielle Lesmeister

    ADMINISTRATOR OF PATIENT CARE

    Total calculated
    $180,078
    From this org
    $0
    From related orgs
    $164,448
    Other
    $15,630
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $164,448 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,630 related
    Filer's total
    $0 + $180,078 related

  • Jay Thompson

    PHARMACY MANAGER

    Total calculated
    $143,256
    From this org
    $143,256
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Sara Anderson

    REGISTERED NURSE

    Total calculated
    $101,207
    From this org
    $101,207
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Michelle Wendt

    REGISTERED NURSE

    Total calculated
    $102,277
    From this org
    $102,277
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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 6
LRHC HAS IMPLEMENTED AN INCENTIVE COMPENSATION PROGRAM FOR CERTAIN EXECUTIVE LEADERSHIP POSITIONS WITHIN THE ORGANIZATION. CERTAIN MEASURES AND GOALS NEED TO BE MET IN ORDER FOR THE COMPENSATION TO BE PAID OUT IN WHOLE, SUCH AS MEETING FINANCIAL PERFORMANCE EXPECTATIONS AND QUALITY METRICS AND SUCCESSFUL IMPLEMENTATION OF STRATEGIC GOALS. THE 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

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.

  • LRH RAD ONC SERVICES

    RADIATION & ONCOLOGY SERVICES · MN

  • RURAL HEALTH ALLIANCE LLC

    RELATED · EQUIPMENT SALES · MN · 10% owned · share of income $24,141 · share of assets $72,660 · general or managing partner

    Directly controlled by PRAIRIE RIDGE HOSPITAL AND HEALTH SERVICES INC

Related corporations and trusts

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

  • WEST CENTRAL LINEN SERVICES

    C · LAUNDRY AND LINEN · MN

Provenance

Return type
form_990
Tax year
2022
Filed
13 August 2024
IRS schema version
2022v5.0
Source object
202422279349302307

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