LAKESHORE AREA RADIATION ONCOLOGY CENTER

EIN: 383067954 501(c)(3)

GRAND RAPIDS, MI

Total Revenue
$5,259,381
Total Expenses
$3,168,493
Total Assets
$9,276,689
Net Assets
$8,839,419
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
MI
Principal Officer
RYAN POWERS
Phone
8669897999
Tax Period
2023-01-01 to 2023-12-31

LAKESHORE AREA RADIATION ONCOLOGY CENTER, founded in 1992, is a community nonprofit that reported $5.3M in total revenue in fiscal year 2023. The organization ran a surplus of $2.1M, a strong 40% operating margin.

Mission

TO PROVIDE CONVENIENT, TECHNOLOGICALLY ADVANCED AND COST-EFFECTIVE RADIATION ONCOLOGY SERVICES IN A COMFORTABLE AND COMPASSIONATE ENVIRONMENT THAT REACHES BEYOND TRADITIONAL HOSPITAL WALLS.OUR COMMITMENT IS TO TREAT THOSE WHOM WE SERVE WITH DIGNITY AND RESPECT. WE INTEND TO PROVIDE INDIVIDUALIZED CARE, EDUCATIONAL RESOURCES AND SUPPORT TO OUR PATIENTS AND THEIR FAMILIES SHARING IN YOUR HOPE FOR THE FUTURE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $5,157,746
Investment Income $81,109
Other Revenue $20,526
TOTAL REVENUE $5,259,381

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,794,113
Other Expenses $3,168,493
TOTAL EXPENSES $3,168,493

Year-over-Year Comparison

2023 2022 Change
Revenue $5,259,381 $5,462,623 0.0%
Expenses $3,168,493 $2,813,182 +0.1%
Net Income $2,090,888 $2,649,441 -0.2%
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
6
Independent Members
2
Employees
N/A
Volunteers
9

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
$844,051
Total Directors
6
$1,731,363
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARBARA SCHMIDTMAN DIRECTOR/VICE PRESIDENT 1.00
Officer Director
$0 $46,478 $401,533
RYAN POWERS DIRECTOR/PRESIDENT 1.00
Officer Director
$0 $44,001 $442,518
LINDA SCHALTZ DIRECTOR 1.00
Director
$0 $37,660 $257,429
ROBERT HOEFER DIRECTOR 1.00
Director
$0 $88,682 $629,883
MICHAEL PAWLAK DIRECTOR/SECRETARY 1.00
Officer Director
$0 $0 $0
BRENDA WINN DIRECTOR/TREASURER 1.00
Officer Director
$0 $0 $0
JOSEPH KLESNEY FORMER OFFICER 0.00
$0 $38,096 $288,667
ANGELA DITMAR FORMER OFFICER 0.00
$0 $0 $265,044
HEATHER LALLO FORMER OFFICER 0.00
$0 $47,119 $467,544
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 $5,259,381 $3,168,493 $9,276,689 $2,090,888
2022 $5,462,623 $2,813,182 $8,809,698 $2,649,441
2021 $5,882,989 $2,888,448 $5,967,834 $2,994,541
2020 $4,980,219 $2,715,646 $6,831,645 $2,264,573
2019 $5,380,484 $2,524,466 $3,945,519 $2,856,018
2018 $3,742,622 $2,557,136 $4,945,575 $1,185,486
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