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Nonprofiteer
← LAKELAND REGIONAL HEALTH SYSTEMS INC

Form 990 for tax year 2023

Filed by LAKELAND REGIONAL HEALTH SYSTEMS INC.

Totals

Total revenue
$131,578,253
Total expenses
$212,158,754
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$120,527,014
Investment income
$8,666,937
Other revenue
$2,384,302
Total assets, end of year
$887,415,193
Total liabilities, end of year
$156,814,635
Net assets or fund balances, end of year
$730,600,558
Program services expenses (Part IX)
$187,449,889
Management and general expenses
$24,708,865
Fundraising expenses
$0
Program service expenses (Part III)
$187,449,889

Program services were 88.4% 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: Net Patient Services

    total $116,926,209 · related or exempt $116,926,209

  • 2b · Program service revenue: Quality Payments

    total $1,235,905 · related or exempt $1,235,905

  • 2c · Program service revenue: Rental Income

    total $486,278 · related or exempt $486,278

  • 2f · All other program service revenue

    total $1,878,622 · related or exempt $1,878,622

  • 3 · Investment income

    total $8,666,937 · excluded $8,666,937

  • 11a · Other revenue: Equity in Earn. Inv Funds

    total $2,257,595 · related or exempt $113,062 · unrelated business $2,144,533

  • 11b · Other revenue: Clinical Trials

    total $126,707 · related or exempt $126,707

  • 11e · Other revenue, total

    $2,384,302

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $139,330,387 · program services $127,171,510 · management and general $12,158,877

  • 8 · Pension plan contributions

    total $3,590,813 · program services $3,167,110 · management and general $423,703

  • 9 · Other employee benefits

    total $12,104,696 · program services $11,048,361 · management and general $1,056,335

  • 10 · Payroll taxes

    total $7,264,690 · program services $6,630,726 · management and general $633,964

  • 11b · Fees: legal

    total $524,243 · management and general $524,243

  • 11c · Fees: accounting

    total $30,000 · management and general $30,000

  • 11f · Fees: investment management

    total $2,447,716 · management and general $2,447,716

  • 11g · Fees: other

    total $13,868,636 · program services $12,981,695 · management and general $886,941

  • 13 · Office expenses

    total $1,210,866 · program services $335,897 · management and general $874,969

  • 16 · Occupancy

    total $4,334,323 · program services $3,082,365 · management and general $1,251,958

  • 17 · Travel

    total $18,913 · program services $10,800 · management and general $8,113

  • 22 · Depreciation, depletion and amortization

    total $3,898,140 · program services $3,367,993 · management and general $530,147

  • 23 · Insurance

    total $4,019,034 · program services $4,019,034

  • 24a · Other expenses: Bad Debt

    total $9,446,661 · program services $9,446,661

  • 24b · Other expenses: Supplies & Pharmaceutic

    total $6,151,694 · program services $5,859,014 · management and general $292,680

  • 24c · Other expenses: Repairs and Maintenance

    total $2,834,392 · program services $248,950 · management and general $2,585,442

  • 24e · All other expenses

    total $1,083,550 · program services $79,773 · management and general $1,003,777

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $57,046,905 · end of year $127,475,105

  • 4 · Accounts receivable

    beginning of year $10,076,666 · end of year $11,117,121

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $114,328

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,219,292 · end of year $2,116,645

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

    $105,572,403

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

    $30,911,724

  • 10c · Land, buildings and equipment, net

    beginning of year $67,410,406 · end of year $74,660,679

  • 11 · Investments: publicly traded securities

    beginning of year $537,762,492 · end of year $626,809,966

  • 13 · Investments: program-related

    beginning of year $13,020,501 · end of year $14,289,675

  • 14 · Intangible assets

    beginning of year $7,846,570 · end of year $14,923,764

  • 15 · Other assets

    beginning of year $0 · end of year $15,907,910

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,964,507 · end of year $2,216,742

  • 25 · Other liabilities

    beginning of year $123,242,317 · end of year $154,597,893

  • 27 · Net assets without donor restrictions

    beginning of year $570,176,008 · end of year $730,600,558

Mission and programs · 2023

Mission

The organization's strategic imperative is to develop as a nationally recognized, fiscally strong and growing collaborative regional health system that improves lives by offering safe, high quality, equitable and affordable healthcare, while demonstrating an equal commitment to the promotion of individual and community health, wellness and disease prevention.

  • The organization's strategic imperative is to develop as a nationally recognized, fiscally strong and growing collaborative regional health system that improves lives by offering safe, high quality, equitable and affordable healthcare, while demonstrating an equal commitment to the promotion of individual and community health, wellness and disease prevention.

    Expenses $187,449,889 · Revenue $120,653,721

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dale Dreyer

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sylvia Blackmon-Roberts

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Clayton Hollis

    Past Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Attaway Jr

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeff Chamberlain

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kimberly Elmhorst

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ed Garcia MD

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Matt Green

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jack Harrell III

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Anne Kerr PhD

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kristen Lowers

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cory Petcoff

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Pou

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mark Preziosi MD

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Danielle Drummond

    President/Chief Exec. Officer

    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

  • Lance Green

    EVP - Chief Financial Officer

    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

  • Mohammed Hassan MD

    Physician

    Total calculated
    $1,109,098
    From this org
    $1,056,786
    From related orgs
    $0
    Other
    $52,312
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $834,479
    Bonus
    $222,282
    Other
    $25
    Deferred
    $16,500
    Nontaxable benefits
    $35,812
    Filer's total
    $1,109,098

  • Avinash Khanna MD

    Physician

    Total calculated
    $1,307,325
    From this org
    $1,288,590
    From related orgs
    $0
    Other
    $18,735
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $860,954
    Bonus
    $427,311
    Other
    $325
    Deferred
    $14,876
    Nontaxable benefits
    $3,859
    Filer's total
    $1,307,325

  • Andres Medina MD

    Physician

    Total calculated
    $1,262,718
    From this org
    $1,213,213
    From related orgs
    $0
    Other
    $49,505
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $846,159
    Bonus
    $366,469
    Other
    $585
    Deferred
    $16,500
    Nontaxable benefits
    $33,005
    Filer's total
    $1,262,718

  • Manuel A Molina MD

    Physician

    Total calculated
    $1,159,576
    From this org
    $1,113,122
    From related orgs
    $0
    Other
    $46,454
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $623,139
    Bonus
    $489,958
    Other
    $25
    Deferred
    $16,500
    Nontaxable benefits
    $29,954
    Filer's total
    $1,159,576

  • Rakesh P Patel MD

    Physician

    Total calculated
    $1,282,176
    From this org
    $1,235,820
    From related orgs
    $0
    Other
    $46,356
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $658,150
    Bonus
    $577,570
    Other
    $100
    Deferred
    $16,500
    Nontaxable benefits
    $29,856
    Filer's total
    $1,282,176

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • RIS and LRH Imaging LLC

    Related · Medical Imaging Services · FL · 50% owned · share of income $24,973 · share of assets $1,909,919 · general or managing partner

  • Polk Starlight Sleep Labs LLC

    Related · Testing facility for the diagnosis and treatment of sleep disorders · FL · 51% owned · share of income $113,062 · share of assets $33,843 · general or managing partner

    Directly controlled by Lakeland Regional Health Systems Inc

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202522279349300427

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