LAKE VIEW MEMORIAL HOSPITAL INC

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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

1955

Legal Domicile

Principal Officer

GREG RUBERG

Phone

2188347300

Tax Period

2023-01-01 to 2023-12-31

LAKE VIEW MEMORIAL HOSPITAL INC, founded in 1955, is a mid-sized nonprofit in the Health Care sector that reported $23.9M in total revenue in fiscal year 2023. Expenses of $22.6M left a modest 6% surplus.

Mission

THE PATIENT. ABOVE ALL ELSE.

Program Service Accomplishments

Program 1

Expenses: $19,268,282 Revenue: $23,182,538

LAKE VIEW MEMORIAL HOSPITAL, INC. (LAKE VIEW) OPERATES A HOSPITAL AND RELATED PROGRAMS INCLUDING AMBULTAORY SURGERY, EMERGENCY ROOM AND URGENT CARE, REHABILITATION, IMAGING AND LABORATORY SERVICES IN TWO HARBORS, MN. ADDITIONALLY, LAKE VIEW OPERATES PHYSICAIN CLINICS IN TWO HARBORS, MN AND SILVER BAY, MN FOR THE BENEFIT OF LAKE COUNTY AND THE SURROUNDING COMMUNITIES. IN FURTHERANCE OF ITS CHARITABLE PURPOSE, LAKE VIEW PROVIDES A VARIETY OF BENEFITS TO THE COMMUNITY, INCLUDING OFFERING VARIOUS COMMUNITY-BASED SERVICE PROGRAMS AND DONATING SPACE FOR USE BY COMMUNITY GROUPS. ADDITIONALLY, A NUMBER OF HEALTH-RELATED EDUCATIONAL PROGRAMS ARE PROVIDED FOR THE BENEFIT OF THE COMMUNITY TO IMPROVE INDIVIDUALS' STANDARD OF HEALTH. THE HOSPITAL ALSO PROVIDES MEDICAL CARE WITHOUT CHARGE OR AT REDUCED RATES TO RESIDENTS OF THE COMMUNITY, PRIMARILY THE UNINSURED AND PATIENTS EXPRESSING A WILLINGNESS TO PAY BUT ARE UNABLE DUE TO SOCIO-ECONOMIC FACTORS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $139,403

Program Service Revenue $23,182,538

Investment Income $374,724

Other Revenue $243,478

TOTAL REVENUE $23,940,143

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,502,463

Fundraising Expenses $0

Program Expenses $19,268,282

Other Expenses $12,058,054

TOTAL EXPENSES $22,560,517

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,940,143	$24,788,142	0.0%
Expenses	$22,560,517	$22,281,833	+0.0%
Net Income	$1,379,626	$2,506,309	-0.4%

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

188

Volunteers

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

$2,524,629

Total Directors

$1,403,248

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC LOHN TREASURER ST	LUKE'S HOSP CO-PRESIDENT/CEO & CFO	2.00	Officer Director	$0	$79,070	$1,105,181
NICHOLAS VAN DEELEN MD ST	LUKE'S HOSP CO-PRESIDENT/CEO & CMO	2.00	Officer	$0	$79,070	$1,069,283
GREG RUBERG	LAKE VIEW HOSP PRESIDENT/CEO	35.00	Officer	$0	$49,893	$350,165
ELIZABETH FEIST MD	PHYSICIAN	40.00	Highest	$204,256	$35,289	$239,545
E TOLGA HANHAN MD	PHYSICIAN	40.00	Highest	$210,289	$22,868	$233,157
TREVOR DIERCKS MD	PHYSICIAN	40.00	Highest	$199,942	$28,624	$228,566
KELSEY SCHULTZ MD	DIRECTOR (AS OF 4/2023) & PHYSICIAN	40.00	Director	$178,544	$5,362	$183,906
CHRISTOPHER SYMONS	REGISTERED NURSE	40.00	Highest	$130,829	$27,639	$158,468
ELIZABETH EGAN	DIRECTOR	40.00	Highest	$141,431	$10,661	$152,092
SHAWN MCMAHON MD	DIRECTOR (UNTIL 4/2023) & PHYSICIAN	40.00	Director	$103,168	$10,993	$114,161
JANELLE JONES	CHAIR & DIRECTOR	1.00	Officer Director	$0	$0	$0
KIERA WILSON	DIRECTOR & CHAIR	1.00	Officer Director	$0	$0	$0
KEVIN BEARDSLEY	VICE CHAIR & DIRECTOR	1.00	Officer Director	$0	$0	$0
CHRIS BRELIE	DIRECTOR & VICE CHAIR	1.00	Officer Director	$0	$0	$0
WADE LEBLANC	SECRETARY	1.00	Officer Director	$0	$0	$0
RICK HOGENSON	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE SCOTT	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$23,940,143	$22,560,517	$43,388,439	$1,379,626
2022	$24,788,142	$22,281,833	$42,274,343	$2,506,309
2021	$25,161,573	$19,970,260	$51,061,118	$5,191,313
2020	$20,715,565	$17,369,474	$43,364,236	$3,346,091
2019	$19,503,975	$17,795,043	$29,698,692	$1,708,932
2018	$19,429,541	$16,922,857	$24,918,457	$2,506,684