LAKE HOSPITAL SYSTEM INC (EIN 341425870) - Form 990 Financial Analysis & Trantor Score

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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

1983

Legal Domicile

Principal Officer

ROBERT TRACZ

Phone

4403541991

Tax Period

2021-01-01 to 2021-12-31

LAKE HOSPITAL SYSTEM INC, founded in 1983, is a major nonprofit in the Health Care sector that reported $475.5M in total revenue in fiscal year 2021. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $434.2M left a modest 9% surplus.

Mission

TO PROVIDE COMPREHENSIVE HEALTH CARE SERVICES TO THE RESIDENTS OF LAKE COUNTY AND NEIGHBORING COMMUNITIES IN PARTNERSHIP WITH THOSE WHO SHARE A COMMITMENT TO LOCAL ACCESS, HEALING WITH COMPASSION, AND SUPERIOR QUALITY.

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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%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $15,516,333

Program Service Revenue $385,477,854

Investment Income $36,603,703

Other Revenue $37,861,849

TOTAL REVENUE $475,459,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $165,947,185

Fundraising Expenses $0

Program Expenses $359,562,227

Other Expenses $268,232,969

TOTAL EXPENSES $434,180,154

Year-over-Year Comparison

	2021	2020	Change
Revenue	$475,459,739	$411,102,558	+0.2%
Expenses	$434,180,154	$401,470,558	+0.1%
Net Income	$41,279,585	$9,632,000	+3.3%

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

Governance

Voting Members

Independent Members

Employees

3320

Volunteers

450

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

$4,024,120

Total Directors

Key Employees

$1,855,802

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS P JUBECK	CHAIR	5.00	Officer Director	$0	$0	$0
BRETT HIMES	VICE CHAIR	5.00	Officer Director	$0	$0	$0
DAWN GUBANC-ANDERSON	SECRETARY	2.00	Officer Director	$0	$0	$0
ADAM SANDEN	TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL E MAYHER	TRUSTEE	2.00	Director	$0	$0	$0
RAYMOND PAGANINI	TRUSTEE	1.00	Director	$0	$0	$0
CHETAN PATEL MD	TRUSTEE	1.00	Director	$0	$0	$0
DAVID ROLLINS MD	TRUSTEE	1.00	Director	$0	$0	$0
RAYMOND SINES	TRUSTEE	1.00	Director	$0	$0	$0
DAVID STEIGER MD	TRUSTEE	1.00	Director	$0	$0	$0
KEITH ZIEGLER	TRUSTEE	1.00	Director	$0	$0	$0
CYNTHIA MOORE-HARDY	PRESIDENT AND CEO	55.00	Officer	$3,284,651	$18,431	$3,303,082
ROBERT TRACZ	SR. VP/CFO	50.00	Officer	$694,972	$26,066	$721,038
JOHN BANIEWICZ MD	SR VP, MEDICAL AFFAIRS	45.00	Key Emp	$694,597	$23,813	$718,410
RICHARD D CICERO	SR VP, MARKETING & BUSINESS	45.00	Key Emp	$444,530	$23,201	$467,731
ADETINUKE TADESE	CHIEF MEDICAL INFORMATICS OFFICER	40.00	Key Emp	$348,804	$31,219	$380,023
BILL OSTERMAN	VP, ACUTE CARE SERVICES	40.00	Key Emp	$281,475	$8,163	$289,638
MICHELE PIRC	PRIMARY NURSE PRACTITIONER	40.00	Highest	$280,248	$0	$280,248
DAVID HERMAN	VP, FINANCE	40.00	Highest	$271,483	$27,923	$299,406
JOYCE A TAYLOR	VP, QUALITY SERVICES, CQO	40.00	Highest	$251,540	$11,603	$263,143
JERROLD PETERS	VP, CIO	40.00	Highest	$235,631	$11,672	$247,303
CYNTHIA J RACER	VP, CLINICAL SERVICES	40.00	Highest	$230,078	$19,626	$249,704

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
2021	$475,459,739	$434,180,154	$631,158,601	$41,279,585
2020	$411,102,558	$401,470,558	$660,977,812	$9,632,000
2020	$411,102,558	$401,470,558	$660,977,812	$9,632,000
2019	$420,108,889	$410,674,873	$620,500,630	$9,434,016
2018	$414,515,979	$405,062,442	$532,511,689	$9,453,537

LAKE HOSPITAL SYSTEM INC