MINNEAPOLIS, MN
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Sign In — Free (10 views/day)LAKEVIEW MEMORIAL HOSPITAL ASSOCIATION INC, founded in 1880, is a major nonprofit in the Health Care sector that reported $186.5M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $173.8M left a modest 7% surplus.
TO MEET THE HEALTHCARE NEEDS OF INDIVIDUALS, FAMILIES & COMMUNITIES OF THE ST. CROIX VALLEY.
CORPORATE STRUCTURE, PURPOSE, GOVERNANCE LAKEVIEW MEMORIAL HOSPITAL ASSOCIATION (THE HOSPITAL) IS A MINNESOTA NONPROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE...
CORPORATE STRUCTURE, PURPOSE, GOVERNANCE LAKEVIEW MEMORIAL HOSPITAL ASSOCIATION (THE HOSPITAL) IS A MINNESOTA NONPROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS PART OF THE FAMILY OF HEALTHPARTNERS ORGANIZATIONS ("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 NONPROFIT 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 NONPROFIT CORPORATION RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3). IN TURN, HPI-RAMSEY IS THE SOLE CORPORATE MEMBER OF REGIONS HOSPITAL, REGIONS HOSPITAL FOUNDATION, CAPITOL VIEW TRANSITIONAL CARE CENTER, LAKEVIEW HEALTH (LH), AND RH-WISCONSIN, INC., ALL OF WHICH ARE NONPROFIT CORPORATIONS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3). LAKEVIEW HEALTH IS THE SOLE CORPORATE MEMBER OF THE HOSPITAL. THE HOSPITAL AND LAKEVIEW HEALTH ARE PART OF THE LAKEVIEW HEALTH SYSTEM ALONG WITH THE LAKEVIEW MEMORIAL HOSPITAL FOUNDATION, A MINNESOTA 501(C) (3) TAX EXEMPT ORGANIZATION (THE FOUNDATION) AND STILLWATER MEDICAL GROUP (SMG), A MINNESOTA 501(C) (3) TAX EXEMPT ORGANIZATION. LAKEVIEW HEALTH IS ALSO THE SOLE CORPORATE MEMBER OF THE FOUNDATION AND SMG. HEALTHPARTNERS AND THE HOSPITAL ALSO PARTNER WITH OTHER PLANS, CARE PROVIDERS AND NONPROFIT ORGANIZATIONS IN THE REGION AND THROUGHOUT THE NATION; TO INCREASE ACCESS, CREATE AND DISSEMINATE QUALITY MEASURES AND INITIATIVES, PARTICIPATE IN DEVELOPMENT OF PUBLIC POLICY AND COLLABORATE ON SYSTEM IMPROVEMENTS. THE HOSPITAL CONTINUES TO BE AN INTEGRAL PART OF THE STILLWATER COMMUNITY AND SURROUNDING AREA A VITAL AND NECESSARY COMMUNITY RESOURCE SINCE 1880, THE FIFTH OLDEST HOSPITAL, AND SECOND OLDEST CONTINUALLY OPERATING HOSPITAL IN MINNESOTA. THE HOSPITAL CONVENES AND SUPPORTS MULTIPLE COMMUNITY COLLABORATIVES TO IMPROVE THE OVERALL HEALTH OF THE COMMUNITY. THE HOSPITAL IS DESIGNATED A LEVEL 3 TRAUMA HOSPITAL AND HAS MEDICAL STAFF IN A VARIETY OF SPECIALTIES, INCLUDING FAMILY MEDICINE, INTERNAL MEDICINE, PEDIATRICS, OB/GYN WITH A LEVEL II NURSERY, GENERAL SURGERY, ORTHOPEDICS, OTOLARYNGOLOGY, OCCUPATIONAL HEALTH, EMERGENCY MEDICINE, HOSPITAL MEDICINE, NEUROLOGY, ONCOLOGY, UROLOGY, CARDIOLOGY, SPORTS MEDICINE, GASTROENTEROLOGY, RADIOLOGY, PATHOLOGY AND ANESTHESIOLOGY. COURTESY AND CONSULTING STAFF PROVIDE ADDITIONAL SERVICES, INCLUDING PAIN MANAGEMENT, INFECTIOUS DISEASE, PULMONARY/SLEEP MEDICINE, AND ORAL SURGERY. CHARITY CARE: CHARITY CARE IS DEFINED AS THE COST OF CARE DELIVERED TO PATIENTS WHO ARE WILLING, BUT UNABLE TO PAY FOR THE SERVICES THEY RECEIVE. THIS INCLUDES PATIENTS WHOSE CHARGES ARE FORGIVEN OR REDUCED BECAUSE OF INABILITY TO PAY; PATIENTS WHO ARE UNABLE TO PAY THE BALANCE LEFT BY ANY PAYER; AND PATIENTS FOR WHOM UNUSUAL CIRCUMSTANCES, OR SPECIAL FINANCIAL HARDSHIP, WARRANT SPECIAL CONSIDERATION. THE HOSPITAL PROVIDED $2,257,142 IN FREE OR DISCOUNTED CARE TO LOW INCOME AND UNINSURED PATIENTS IN 2023. GOVERNMENT-SPONSORED MEANS-TESTED HEALTH CARE: THE HOSPITAL PROVIDED INPATIENT AND OUTPATIENT CARE, INCLUDING EMERGENCY DEPARTMENT SERVICES TO MEDICAID PATIENTS. PAYMENTS RECEIVED FOR THESE SERVICES WERE BELOW THE COST OF CARE PROVIDED. THE EXPENSE TO COVER UNREIMBURSED MEDICAID COSTS FOR PATIENTS TOTALED $1,379,134. THE COST INCURRED FOR OTHER MEANS-TESTED GOVERNMENT PROGRAMS WAS $2,707,835. COMMUNITY BENEFIT SERVICES: 1. COMMUNITY HEALTH IMPROVEMENT SERVICES: $431,944 THE HOSPITAL IS COMMITTED TO COMMUNITY HEALTH IMPROVEMENT SERVICES, WHICH INCLUDE A RANGE OF ACTIVITIES CARRIED OUT TO IMPROVE COMMUNITY HEALTH BEYOND PATIENT CARE. BELOW ARE HIGHLIGHTS OF SUCH ACTIVITIES THAT FALL WITHIN THE CATEGORIES OF COMMUNITY HEALTH EDUCATION, COMMUNITY-BASED CLINICAL SERVICES, HEALTH CARE SUPPORT SERVICES AND SOCIAL AND ENVIRONMENTAL IMPROVEMENT. EACH YEAR, THE HOSPITAL HELPS EDUCATE THE LOCAL COMMUNITIES ABOUT HEALTH TOPICS BY PROVIDING THEM A VARIETY OF COMMUNITY EDUCATION. WE CONTINUED TO SERVE OUR COMMUNITIES IN DIGITAL/VIRTUAL FORMATS. 35 VIRTUAL CLASSES, EVENTS, AND PODCASTS WERE CARRIED OUT ON A VARIETY OF TOPICS INCLUDING: DIABETES, DEMENTIA, GRIEF, ANXIETY IN TEENS, WARNING SIGNS OF SUBSTANCE USE, EXERCISE, PREGNANCY, AND HEART HEALTH. IN TOTAL, THESE HAVE BEEN ACCESSED OVER 2,500 TIMES. IN 2023, THE MAKE IT OK CAMPAIGN MARKED A DECADE OF REDUCING MENTAL HEALTH STIGMA BY CHANGING ATTITUDES AND FOSTERING CARING CONVERSATIONS IN COMMUNITIES. MAKE IT OK HAD CONTINUED GROWTH OF PARTNERS, AMBASSADORS AND COMMUNITY ENGAGEMENT, WITH AN INCREASED FOCUS ON EQUITABLY REACHING COMMUNITIES DISPROPORTIONATELY IMPACTED BY MENTAL ILLNESSES AND STIGMA. IT WAS ALSO A YEAR TO REFLECT ON A DECADE OF MILESTONES WITH OUR NEW MAKE IT OK 10-YEAR REPORT, SHOWCASING THE CAMPAIGN'S MEANINGFUL AND MEASURABLE PROGRESS. THIS MILESTONE WAS CELEBRATED WITH AN EVENT IN APRIL, ATTENDED BY OVER 150 PEOPLE, BOTH IN PERSON AND VIRTUALLY, HIGHLIGHTING THE 10-YEAR PROGRESS AND FUTURE PLANS. SINCE 2012, MORE THAN: 5,000 PEOPLE HAVE BEEN TRAINED AS AMBASSADORS, 10,000 HAVE ATTENDED MAKE IT OK PRESENTATIONS, 21,000 HAVE TAKEN THE PLEDGE TO STAND AGAINST STIGMA, AND THE CAMPAIGN HAS EXPANDED ITS REACH NATIONWIDE THROUGH ONLINE RESOURCES, TRAININGS AND PARTNERSHIPS. THIS IMPORTANT WORK RESULTED IN A MEASURABLE DECREASE IN COMMUNITY STIGMA, YET THERE IS STILL WORK TO DO.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $186,536,777 | $167,380,081 | +0.1% |
| Expenses | $173,750,266 | $160,867,696 | +0.1% |
| Net Income | $12,786,511 | $6,512,385 | +1.0% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| MIKE ANDERSON | DIRECTOR AND CHAIR | 0.58 |
Officer
Director
|
$0 | $0 | $0 |
| ELIZABETH BRADSHAW | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| JASON HOWARD | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| SHARON TOLVA | DIRECTOR & TREASURER | 0.58 |
Officer
Director
|
$0 | $0 | $0 |
| SUE HEDLUND | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| JOHN UPPGREN | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| BRETT C HAAKE MD | DIRECTOR | 0.50 |
Director
|
$0 | $113,054 | $843,622 |
| BRIAN L CRESS MD | DIRECTOR | 0.50 |
Director
|
$0 | $40,815 | $388,558 |
| MATTHEW A RICHIE | DIRECTOR & VP SMG | 0.50 |
Officer
Director
|
$0 | $47,575 | $450,666 |
| BRANDI L LUNNEBORG | DIRECTOR & PRESIDENT | 59.50 |
Officer
Director
|
$0 | $139,951 | $811,412 |
| MICHAEL FUNK | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| PAHOUA HOFFMAN | DIRECTOR | 0.50 |
Director
|
$0 | $105,197 | $533,054 |
| ANNIE JACOBSEN MD | DIRECTOR | 0.50 |
Director
|
$0 | $69,516 | $639,157 |
| ALITA R RISINGER | DIRECTOR | 0.50 |
Director
|
$0 | $112,052 | $686,286 |
| KHU THAO | DIRECTOR | 0.58 |
Director
|
$0 | $0 | $0 |
| 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 |
| 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 |
| NICHOLAS MEYER MD | DIRECTOR (JAN-OCT) | 0.58 |
Director
|
$0 | $0 | $0 |
| BRENDA HALL | VP ANCILLARY SERVICES | 40.00 |
Officer
|
$161,900 | $20,454 | $182,354 |
| DOUGLAS E JOHNSON | CFO, LHS | 51.00 |
Officer
|
$603,783 | $44,121 | $647,904 |
| THOMAS S ANDERSON MD | VPMA | 0.50 |
Officer
|
$0 | $67,935 | $547,674 |
| NANCY L EVERT | SECRETARY & GEN. COUNSEL | 0.50 |
Officer
|
$0 | $238,674 | $1,049,946 |
| EMILIENNE ANDERSON | VP NURSING SERVICES & CNO | 40.00 |
Officer
|
$253,764 | $25,767 | $279,531 |
| CYNTHIA A APPLESETH | DIRECTOR OF PHARMACY | 44.00 |
Highest
|
$225,074 | $27,596 | $252,670 |
| JASON D TAUZELL | NURSE ANESTHETIST | 40.00 |
Highest
|
$233,414 | $47,725 | $281,139 |
| CATHY J MANLEY | NURSE ANESTHETIST | 40.00 |
Highest
|
$226,778 | $35,448 | $262,226 |
| MICHAEL D WEIS | MANAGER NURSE ANESTHETIST | 45.00 |
Highest
|
$291,971 | $50,664 | $342,635 |
| JUSTIN R CUSICK | NURSE ANESTHETIST | 40.00 |
Highest
|
$277,688 | $48,707 | $326,395 |
| ANDREW E DORWART MD | FORMER SMG PRESIDENT | 0.00 |
|
$0 | $61,384 | $343,706 |
| THEODORE WEGLEITNER | FORMER PRESIDENT | 0.00 |
|
$0 | $13,842 | $283,494 |
| NATHAN S PULSCHER | FORMER VP ANCILLARY SERVICES | 0.00 |
|
$0 | $66,188 | $379,987 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $186,536,777 | $173,750,266 | $132,668,016 | $12,786,511 |
| 2022 | $167,380,081 | $160,867,696 | $119,076,419 | $6,512,385 |
| 2021 | $164,702,873 | $145,373,421 | $128,319,414 | $19,329,452 |
| 2020 | $127,373,639 | $120,826,528 | $112,606,795 | $6,547,111 |
| 2019 | $138,581,328 | $122,238,760 | $96,162,119 | $16,342,568 |
| 2018 | $123,054,775 | $114,152,074 | $84,532,275 | $8,902,701 |
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