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Nonprofiteer
← LCHC QALICB INC

Form 990 for tax year 2022

Filed by LCHC QALICB INC.

Totals

Total revenue
$112,358
Total expenses
$360,499
Contributions and grants received
$0
Grants paid
$39,000
Program service revenue
$112,000
Investment income
$358
Other revenue
$0
Total assets, end of year
$5,191,435
Total liabilities, end of year
$6,952,796
Net assets or fund balances, end of year
-$1,761,361
Program services expenses (Part IX)
$288,821
Management and general expenses
$71,678
Fundraising expenses
$0
Program service expenses (Part III)
$288,821

Program services were 80.1% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $112,000 · related or exempt $112,000

  • 3 · Investment income

    total $358 · excluded $358

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $39,000 · program services $39,000

  • 11c · Fees: accounting

    total $4,000 · management and general $4,000

  • 20 · Interest

    total $94,870 · program services $67,842 · management and general $27,028

  • 22 · Depreciation, depletion and amortization

    total $222,604 · program services $181,979 · management and general $40,625

  • 24a · Other expenses: LICENSES & DUES

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $52,238 · end of year $39,377

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

    $6,768,422

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

    $1,616,364

  • 10c · Land, buildings and equipment, net

    beginning of year $5,374,662 · end of year $5,152,058

  • 15 · Other assets

    beginning of year $354 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $6,940,474 · end of year $6,952,796

  • 27 · Net assets without donor restrictions

    beginning of year -$1,513,220 · end of year -$1,761,361

Mission and programs · 2022

Mission

TO HELP CARRY OUT THE MISSION OF LAKESHORE COMMUNITY HEALTH CARE, INC. (LCHC), WHICH IS TO PROVIDE ACCESS TO COMPREHENSIVE, INTEGRATED HEALTH CARE, REGARDLESS OF ABILITY TO PAY, ELIMINATING HEALTH DISPARITIES AMONG THE UNDERSERVED.

Activities or mission (Part I)

TO SUPPORT THE MISSION OF LAKESHORE COMMUNITY HEALTH CARE, INC.

  • EXPENSES INCURRED TO OPERATE FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF LAKESHORE COMMUNITY HEALTH CARE, INC. ACTIVITIES INCLUDE THE ACQUISITION AND DEVELOPMENT OF A HEALTHCARE FACILITY FOR LEASING TO LCHC, AND THE MAKING OF DONATIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3).

    Expenses $288,821 · Grants $39,000 · Revenue $112,000

As filed on the 2022 return.

Listed in Part VII

  • Kristin Blanchard Stearns

    PRESIDENT

    Total calculated
    $230,376
    From this org
    $0
    From related orgs
    $188,728
    Other
    $41,648
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $188,278 related
    Bonus
    $0
    Other
    $0 + $450 related
    Deferred
    $0 + $7,720 related
    Nontaxable benefits
    $0 + $33,928 related
    Filer's total
    $0 + $230,376 related

  • Leighanne Matter-Jensen

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Michael Bauer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cindy Dross

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

None.

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
  • 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 III - ADDITIONAL INFORMATION
PART I, LINE 3: THE TOP MANAGEMENT OFFICIAL IS COMPENSATED BY LAKESHORE COMMUNITY HEALTH CARE, INC., A RELATED ORGANIZATION OF LCHC QALICB INC. LAKESHORE COMMUNITY HEALTH CARE, INC. ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING THE COMPENSATION SURVEY OR STUDY METHOD AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE METHOD.

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
2022
Filed
26 January 2024
IRS schema version
2022v5.0
Source object
202430799349300823

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