LAKEVIEW HEALTH

EIN: 300221189 501(c)(3) Health Care

MINNEAPOLIS, MN

Total Revenue
$4,397,078
Total Expenses
$59,968
Total Assets
$141,838,923
Net Assets
$141,837,843
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
MN
Principal Officer
ALITA R RISINGER
Phone
9528836584
Tax Period
2023-01-01 to 2023-12-31

LAKEVIEW HEALTH, founded in 2003, is a community nonprofit in the Health Care sector that reported $4.4M in total revenue in fiscal year 2023. Revenue surged 73% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.3M, a strong 99% operating margin.

Mission

TO SUPPORT ITS SUPPORTED ORGANIZATIONS, LAKEVIEW MEMORIAL HOSPITAL ASSOCIATION AND STILLWATER MEDICAL GROUP, IN THEIR DELIVERY OF INTEGRATED PRIMARY AND HOSPITAL CARE TO MEET THE HEALTHCARE NEEDS OF THE SERVICE AREA POPULATION.

Program Service Accomplishments

Program 1
Expenses: $59,968

I. CORPORATE STRUCTURE, PURPOSE, GOVERNANCE LAKEVIEW HEALTH (LH) IS A MINNESOTA NON-PROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION...

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I. CORPORATE STRUCTURE, PURPOSE, GOVERNANCE LAKEVIEW HEALTH (LH) IS A MINNESOTA NON-PROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS PART OF THE HEALTHPARTNERS ORGANIZATION ("HEALTHPARTNERS"). FOUNDED IN 1957, HEALTHPARTNERS IS AN INTEGRATED HEALTH CARE ORGANIZATION, PROVIDING HEALTH CARE SERVICES AND HEALTH PLAN FINANCING AND ADMINISTRATION. HEALTHPARTNERS' MISSION IS TO IMPROVE HEALTH AND WELL-BEING IN PARTNERSHIP WITH OUR MEMBERS, PATIENTS, AND COMMUNITY. HEALTHPARTNERS SEEKS TO TRANSFORM HEALTH CARE THROUGH A RELENTLESS FOCUS ON THE TRIPLE AIM - PROVIDING EXCEPTIONAL EXPERIENCE FOR THE INDIVIDUAL, IMPROVING THE HEALTH OF THE POPULATION, AND MAINTAINING AFFORDABILITY. HEALTHPARTNERS, INC. (HPI) IS A MINNESOTA NONPROFIT CORPORATION AND LICENSED HEALTH MAINTENANCE ORGANIZATION (HMO) RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(4) AND IS THE PARENT ENTITY OF HEALTHPARTNERS ORGANIZATIONS REFERRED TO COLLECTIVELY AS "HEALTHPARTNERS". HEALTHPARTNERS INCLUDES AN ARRAY OF TAX-EXEMPT AND TAXABLE ORGANIZATIONS. HEALTHPARTNERS PROVIDES A FULL RANGE OF HEALTH CARE DELIVERY AND HEALTH PLAN SERVICES INCLUDING INSURANCE, PATIENT CARE, ADMINISTRATION AND HEALTH AND WELL-BEING PROGRAMS. HEALTHPARTNERS HEALTH PLANS SERVE MORE THAN 1.8 MILLION MEDICAL AND DENTAL MEMBERS NATIONWIDE. HEALTHPARTNERS MEDICAL CARE SYSTEM INCLUDES MORE THAN 2,000 EMPLOYED PHYSICIANS AND DENTISTS, EIGHT OWNED HOSPITALS WITH OVER 1,000 ACUTE CARE BEDS, OVER 100 PRIMARY AND SPECIALTY CARE MEDICAL FACILITIES AND DENTAL FACILITIES WITH PRACTICES IN MINNESOTA AND WESTERN WISCONSIN SERVING MORE THAN 1.34 MILLION PATIENTS. HEALTHPARTNERS HEALTH PLANS CONTRACT WITH OTHER PRIMARY AND SPECIALTY MEDICAL FACILITIES AND DENTAL FACILITIES, PHYSICIAN GROUPS, HOSPITALS, AND RELATED HEALTHCARE PROVIDERS TO SERVE PLAN MEMBERS. HEALTHPARTNERS ALSO PROVIDES MEDICAL EDUCATION AND TRAINING TO MEDICAL PROFESSIONALS AND CONDUCTS RESEARCH AND FUNDRAISING ACTIVITIES THAT SUPPORT THE HEALTH CARE DELIVERY SYSTEM. HEALTHPARTNERS COLLABORATES WITH OTHER PLANS, CARE PROVIDERS AND OTHER COMMUNITY AND BUSINESS ORGANIZATIONS IN THE REGION AND THROUGHOUT THE NATION TO INCREASE ACCESS, CREATE AND SHARE QUALITY MEASURES AND INITIATIVES, PARTICIPATE IN DEVELOPMENT OF PUBLIC POLICY, AND COLLABORATE IN IMPROVEMENTS THAT SUPPORT THE TRIPLE AIM. AMONG HEALTHPARTNERS' SIGNATURE INITIATIVES ARE TOTAL COST OF CARE MEASUREMENTS (A NATIONALLY RECOGNIZED METRIC, ENABLING MEASUREMENT AND INCENTIVES BASED ON COORDINATION AND EVIDENCE-BASED PRACTICES), MENTAL HEALTH (REDUCING STIGMA, AND ASSURING ACCESS TO HIGH QUALITY CARE IN THE MOST APPROPRIATE SETTINGS), CHILDREN'S HEALTH (IMPROVING CHILD HEALTH BY PROMOTING EARLY BRAIN DEVELOPMENT, PROVIDING FAMILY CENTERED CARE, AND STRENGTHENING COMMUNITIES), EQUITY, INCLUSION, AND ANTI-RACISM (ADDRESSING HEALTH EQUITY, ELIMINATING HEALTH CARE DISPARITIES, INCREASING DIVERSITY AND INCLUSION IN OUR WORKPLACES, BUILDING AN ANTI-RACIST CULTURE, AND DEEPENING OUR COLLECTIVE UNDERSTANDING OF CULTURAL HUMILITY) AND SUSTAINABILITY (ENERGY EFFICIENCY, WASTE REDUCTION, AND RESOURCE MANAGEMENT). A COMPLETE LISTING OF ALL ORGANIZATIONS WITHIN HEALTHPARTNERS, AND THE RELATIONSHIP BETWEEN THEM, CAN BE FOUND ON SCHEDULE R WITHIN THIS 990 RETURN. DETAILED INFORMATION ABOUT THE COMMUNITY BENEFIT ACTIVITIES AND ACCOMPLISHMENTS OF EACH TAX-EXEMPT ORGANIZATION CAN BE FOUND IN THE INDIVIDUAL FORM 990 RETURN FOR THAT ORGANIZATION. HEALTHPARTNERS, INC. (HPI) IS THE PARENT ENTITY OF HEALTHPARTNERS AND IS A MINNESOTA NON-PROFIT CORPORATION AND LICENSED HEALTH MAINTENANCE ORGANIZATION (HMO) RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(4). HPI IS THE SOLE CORPORATE MEMBER OF HPI-RAMSEY, A MINNESOTA NON-PROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3). IN TURN, HPI-RAMSEY IS THE SOLE CORPORATE MEMBER OF LH AND ITS SISTER ORGANIZATIONS, REGIONS HOSPITAL (REGIONS), REGIONS HOSPITAL FOUNDATION, RH-WISCONSIN, INC., AND CAPITOL VIEW TRANSITIONAL CARE CENTER, ALL OF WHICH ARE NON-PROFIT CORPORATIONS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3). LH IS THE SOLE CORPORATE MEMBER OF LAKEVIEW MEMORIAL HOSPITAL ASSOCIATION, INC. (HOSPITAL), LAKEVIEW HEALTH FOUNDATION (FOUNDATION) AND STILLWATER MEDICAL GROUP. ALL THREE ENTITIES ARE MINNESOTA 501(C) (3) TAX EXEMPT ORGANIZATIONS. LH IS A SUPPORTING ORGANIZATION TO THE HOSPITAL, AND TO SMG. THE BOARDS OF DIRECTORS OF LH AND ITS SUPPORTED ORGANIZATIONS ARE COMPRISED OF THE SAME PERSONS. THE POSITIONS OF PRESIDENT AND CHIEF FINANCIAL OFFICER FOR LH ARE FILLED BY THE SAME PERSONS. II. PROGRAM SERVICE ACCOMPLISHMENTS SEE THE 990 FILINGS FOR EACH OF LH'S SUPPORTED ORGANIZATIONS.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $4,397,078
Other Revenue $0
TOTAL REVENUE $4,397,078

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $59,968
Other Expenses $59,968
TOTAL EXPENSES $59,968

Year-over-Year Comparison

2023 2022 Change
Revenue $4,397,078 $2,543,305 +0.7%
Expenses $59,968 N/A N/A
Net Income $4,337,110 $2,543,305 +0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
8
Employees
N/A
Volunteers
8

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
9
$3,787,133
Total Directors
20
$5,605,039
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRETT C HAAKE MD DIRECTOR 0.50
Director
$0 $113,054 $843,622
MICHAEL FUNK DIRECTOR 0.58
Director
$0 $0 $0
ELIZABETH BRADSHAW DIRECTOR 0.58
Director
$0 $0 $0
JASON HOWARD DIRECTOR 0.58
Director
$0 $0 $0
JOHN UPPGREN DIRECTOR 0.58
Director
$0 $0 $0
BRIAN L CRESS MD DIRECTOR 0.50
Director
$0 $40,815 $388,558
KHU THAOR DIRECTOR 0.58
Director
$0 $0 $0
ALITA R RISINGER DIRECTOR 0.50
Director
$0 $112,052 $686,286
ANNIE JACOBSEN MD DIRECTOR 0.50
Director
$0 $69,516 $639,157
PAHOUA HOFFMAN DIRECTOR 0.50
Director
$0 $105,197 $533,054
BRANDI L LUNNEBORG DIRECTOR & PRESIDENT 0.50
Officer Director
$0 $139,951 $811,412
SHARON TOLVA DIRECTOR & TREASURER 0.58
Officer Director
$0 $0 $0
SUE HEDLUND DIRECTOR & VICE CHAIR 0.58
Officer Director
$0 $0 $0
MATTHEW A RICHIE DIRECTOR & VP SMG 0.50
Officer Director
$0 $47,575 $450,666
PATRICK T COURNEYA MD DIRECTOR (JAN-APR) 0.50
Director
$0 $76,938 $571,235
STEVEN C HOUSH DIRECTOR (JAN-APR) 0.50
Director
$0 $45,951 $363,920
KEVIN J BJORK MD DIRECTOR (JAN-AUG) 0.50
Director
$0 $42,519 $317,129
PHAEDRA COFIELD DIRECTOR (JAN-NOV) 0.58
Director
$0 $0 $0
NICHOLAS MEYER MD DIRECTOR (JAN-OCT) 0.58
Director
$0 $0 $0
MIKE ANDERSON DIRECTOR AND CHAIR 0.58
Officer Director
$0 $0 $0
DOUGLAS E JOHNSON CFO, LHS 4.00
Officer
$0 $44,121 $647,904
NANCY L EVERT SEC. & GENERAL COUNSEL 0.50
Officer
$0 $238,674 $1,049,946
EMILIENNE ANDERSON VP NURSING SERVICES & CNO 0.50
Officer
$0 $25,767 $279,531
THOMAS S ANDERSON MD VPMA 0.50
Officer
$0 $67,935 $547,674
THEODORE WEGLEITNER FORMER PRESIDENT 0.00
$0 $13,842 $283,494
ANDREW E DORWART MD FORMER SMG PRESIDENT 0.00
$0 $61,384 $343,706
NATHAN S PULSCHER FORMER VP ANCILLARY SERVICES 0.00
$0 $66,188 $379,987
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
2024 No data No data No data No data
2023 $4,397,078 $59,968 $141,838,923 $4,337,110
2022 $2,543,305 No data $125,980,141 No data
2021 $8,675,066 No data $130,409,251 No data
2020 $4,621,464 No data $121,134,598 No data
2019 $14,529,891 $5,697 $109,346,230 $14,524,194
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