LAKES REGIONAL HEALTHCARE FOUNDATION

EIN: 275079693 501(c)(3) Health Care

SPIRIT LAKE, IA

Total Revenue
$579,605
Total Expenses
$89,859
Total Assets
$1,736,729
Net Assets
$1,736,729
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
IA
Principal Officer
MICHAEL SANDY
Phone
7123368791
Tax Period
2024-07-01 to 2025-06-30

LAKES REGIONAL HEALTHCARE FOUNDATION, founded in 2010, is a small nonprofit in the Health Care sector that reported $580K in total revenue in fiscal year 2024. Revenue surged 184% from the prior year, signaling strong growth momentum. The organization ran a surplus of $490K, a strong 84% operating margin.

Mission

TO SOLICIT AND RECEIVE CONTRIBUTIONS, GIFTS, GRANTS, DEVISES, OR BEQUESTS OF REAL OR PERSONAL PROPERTY OR BOTH FROM INDIVIDUALS, FOUNDATIONS, AND PUBLIC AND PRIVATE ENTITIES; AND TO MAINTAIN, USE AND APPLY, DIRECTLY OR INDIRECTLY, THE WHOLE OR ANY PART OF THE INCOME THEREFROM AND THE PRINCIPAL THEREOF, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF LAKES REGIONAL HEALTHCARE, AN IOWA COUNTY HOSPITAL, INCLUDING THE PURPOSES OF LAKES REGIONAL HEALTHCARE TO RECRUIT QUALIFIED HEALTH CARE PRACTITIONERS TO SERVE THE RESIDENTS OF THE SERVICE AREA OF LAKES REGIONAL HEALTHCARE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $420,432
Program Service Revenue $0
Investment Income $70,265
Other Revenue $88,908
TOTAL REVENUE $579,605

Expense Breakdown

Grants Paid $33,384
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $80,144
Other Expenses $56,475
TOTAL EXPENSES $89,859

Year-over-Year Comparison

2024 2023 Change
Revenue $579,605 $203,968 +1.8%
Expenses $89,859 $73,772 +0.2%
Net Income $489,746 $130,196 +2.8%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEITH DEITERING DIRECTOR 1.00
Director
$0 $0 $0
KATHRYN FAHY DIRECTOR 1.00
Director
$0 $0 $0
GRETA GRUYS DIRECTOR 1.00
Director
$0 $0 $0
BRENT HARRIS SECRETARY/TR 1.00
Officer Director
$0 $0 $0
JANELLE HOLTER DIRECTOR 1.00
Director
$0 $0 $0
BRAD JUNGERS VICE PRESIDE 1.00
Officer Director
$0 $0 $0
JOHN MCMAHON DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL SANDY PRESIDENT 1.00
Officer Director
$0 $0 $0
DANIELLE TEWES DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $579,605 $89,859 $1,736,729 $489,746
2024 $203,968 $73,772 $1,172,687 $130,196
2023 $105,459 $107,748 $969,743 $-2,289
2022 $172,355 $25,437 $910,794 $146,918
2021 $91,443 $71,181 $886,916 $20,262
2020 $166,735 $17,642 $752,944 $149,093
2019 $103,633 $208,086 $621,454 $-104,453
2018 $143,100 $15,736 $722,246 $127,364
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