Lake Region Healthcare Corporation
85% goes to programs $0 to raise $100 Strong reserves Growing revenue
Lake Region Healthcare Corporation is a 501(c)(3) organization based in Fergus Falls, Minnesota, registered in 1953, with $168,538,656 in FY2023 revenue. CharityIndex grades it A, and it directs about 85% of spending to programs.
712 S Cascade St, Fergus Falls, MN, 56537 EIN 41-0730602 Since 1953
Revenue (FY2023)
$168.5M
▲ 12.7% vs prior year
Health median: $840K
Expenses (FY2023)
$169.1M
Net assets
$106.0M
Employees
965
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating85% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Lake Region Healthcare Corporation: 85% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating8 mo reserves · -0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Lake Region Healthcare Corporation: 8 mo reserves · -0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Lake Region Healthcare Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Lake Region Healthcare Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
We partner to enrich life through health.
What they do
Lake region healthcare offers clinical services in four communities and a walk-in clinic. specialties offered through clinic services include cardiology, ob gyn, pediatrics, ophthalmology, family medicine, internal medicine, urology, dermatology, ent, allergy, audiology, podiatry, pulmonology, sports medicine, surgery, and orthopedics.
Contact & location
- Address
- 712 S Cascade St, Fergus Falls, MN, 56537
- City
- Fergus Falls
- State
- Minnesota
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $121.4M (FY2013) to $168.5M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $52.2MNet assets $106.0M
Operating margin
-0.4%
Spent more than it raised in the latest fiscal year.
Total assets
$158.3M
Total liabilities
$52.2M
Net assets
$106.0M
Salaries & benefits
$61.3M
36% of expenses
Board members
15
15 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $168,538,656▲12.7% | $169,136,610▲4.6% | $106,014,921▲1.7% | $158,258,533▲1.7% | 990 |
| 2022 | $149,508,147▲1.1% | $161,649,037▲13.7% | $104,253,113▼7.0% | $155,566,956▼6.3% | 990 |
| 2021 | $147,953,860▲4.0% | $142,198,354▲2.3% | $112,042,135▼3.3% | $165,940,026▼4.1% | 990 |
| 2020 | $142,320,995▼1.4% | $138,994,598▲4.1% | $115,890,785▲11.0% | $173,065,629▲2.6% | 990 |
| 2019 | $144,329,456▲6.6% | $133,523,933▼1.5% | $104,364,257▲15.5% | $168,669,550▲19.7% | 990 |
| 2018 | $135,455,552▲0.2% | $135,576,305▲1.3% | $90,388,181▼3.3% | $140,956,595▼3.5% | 990 |
| 2017 | $135,251,763▲2.6% | $133,771,592▲2.5% | $93,447,083▲1.9% | $146,071,201▲0.4% | 990 |
| 2016 | $131,884,487▲6.9% | $130,484,645▲4.9% | $91,691,228▲18.2% | $145,439,410▲1.3% | 990 |
| 2015 | $123,339,348▼1.6% | $124,415,121▲2.9% | $77,546,900 | $143,517,351▼3.3% | 990 |
| 2014 | $125,358,746▲3.3% | $120,912,384▲3.7% | $77,533,696▲2.8% | $148,449,734▲25.6% | 990 |
| 2013 | $121,404,508 | $116,645,549▲9.7% | $75,420,430▲7.7% | $118,201,492▲7.2% | 990 |
| 2012 | — | $106,317,506▼3.0% | $70,021,411▲2.2% | $110,308,593▼4.9% | 990 |
| 2011 | — | $109,620,459▲7.8% | $68,486,860▼3.4% | $115,996,557▼2.2% | 990 |
| 2010 | — | $101,692,209▲31.6% | $70,863,845▲0.5% | $118,628,386▲1.5% | 990 |
| 2009 | — | $77,258,079 | $70,545,575 | $116,839,958 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Chelsey Johnson — $1,211,082 (0.72% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Chelsey Johnson | Plastic Surgeon | 40 | $1,211,082 |
| Kent Mattson | Ceo | 39 | $526,180 |
| Camie Patterson | Cfo | 39 | $512,768 |
| Fritz Karsnia | Crna | 40 | $303,045 |
| Jason Zosel | Crna | 40 | $300,412 |
| Roberta Young | Cno | 40 | $299,389 |
| Tyler Scott | Crna | 40 | $299,235 |
| Robert Kari | Crna | 40 | $296,306 |
| Kathy Burville | Vp of Ambulatory Services | 40 | $192,208 |
| Deb Pelch | Vp of Ambulatory Services/care Center | 40 | $166,110 |
| Danielle Lesmeister | Administrator of Patient Care | 0 | $160,565 |
| Ann Hiedeman | Vp of Human Resources | 40 | $152,873 |
| Chad Miller | Trustee | 4 | — |
| Chris Johnson | Cfo | 40 | — |
| Chuck Mcfarlane | Trustee | 4 | — |
| Crystal Adams | Secretary | 6 | — |
| Deb Ferguson | Trustee | 4 | — |
| Erin Smith | Trustee | 4 | — |
| Jeanne Ennen | Trustee | 4 | — |
| Jess Steinbrenner | Trustee | 4 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Lake Region Medical Group | Physician Services | $24,940,298 |
| Medical Solutions LLC | Contracted Labor | $3,138,378 |
| Sanford | It/emr Services | $2,139,732 |
| Locumtenenscom | Physician Services | $2,083,521 |
| Virtual Radiologic Professionals | Radiology Physician Services | $1,291,647 |
Grants received · $12K total
1 grant to Lake Region Healthcare Corporation totaling $12K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Heart Association Inc | Emergency equipment upgrade | 2015 | $11,999 |
Grants made · $51K in FY2023
3 grants totaling $51K in FY2023. All grants made by Lake Region Healthcare Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| City of Fergus Falls | Community benefit | $40,550 |
| Chamber of Commerce of Fergus Falls Inc | Community benefit | $5,450 |
| Fergus Falls 544 Educaton Foundation | Community benefit | $5,200 |
Similar organizations in Health
Health
Healtheast Medical Research Institute
Minneapolis, MN
$171.3M
Cannual revenue
Health
University of Minnesota Health Clinics and Surgery Center Inc
Minneapolis, MN
$173.0M
Cannual revenue
Health
Lakewood Health System
Staples, MN
$162.9M
Aannual revenue
Health
St Marys Regional Health Center
Detroit Lakes, MN
$181.5M
Aannual revenue
Health
Avera Marshall
Marshall, MN
$151.4M
A+annual revenue
Health
Lakeview Memorial Hospital Association Inc
Stillwater, MN
$192.9M
Aannual revenue
Range Regional Health Services
Hibbing, MN
$141.0M
Aannual revenue
Health
Grand Itasca Clinic and Hospital
Grand Rapids, MN
$140.2M
A+annual revenue
Health
Welia Health
Mora, MN
$138.2M
Aannual revenue
Health
Medica Community Health Plan
Minnetonka, MN
$134.5M
B+annual revenue
Compare Lake Region Healthcare Corporation
Frequently asked questions
- Is Lake Region Healthcare Corporation a legitimate nonprofit?
- Yes. Lake Region Healthcare Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 41-0730602, based in Fergus Falls, Minnesota. Donations are tax-deductible.
- What is Lake Region Healthcare Corporation's EIN?
- Lake Region Healthcare Corporation's Employer Identification Number (EIN) is 41-0730602.
- How much revenue does Lake Region Healthcare Corporation report?
- Lake Region Healthcare Corporation reported $168,538,656 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Lake Region Healthcare Corporation's spending goes to programs?
- Lake Region Healthcare Corporation spends about 85% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Lake Region Healthcare Corporation have?
- CharityIndex grades Lake Region Healthcare Corporation A, based on program efficiency and fundraising cost.
- How much does Lake Region Healthcare Corporation's highest-paid employee make?
- The highest reported compensation on Lake Region Healthcare Corporation's latest Form 990 is $1,211,082, paid to Chelsey Johnson (Plastic Surgeon).
More nonprofits in Fergus Falls
Explore more
Data for Lake Region Healthcare Corporation (EIN 41-0730602) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.