Lawrence and Memorial Hospital Inc
92% goes to programs $15 to raise $100 Strong reserves
Lawrence and Memorial Hospital Inc is a 501(c)(3) organization based in New London, Connecticut, registered in 1937, with $501,444,201 in FY2023 revenue. CharityIndex grades it A, and it directs about 92% of spending to programs.
365 Montauk Ave, New London, CT, 06320 EIN 06-0646704 Since 1937
Revenue (FY2023)
$501.4M
▲ 6.3% vs prior year
Health median: $840K
Expenses (FY2023)
$493.3M
Net assets
$296.6M
Employees
2,725
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating92% to programs · $15 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 Lawrence and Memorial Hospital Inc: 92% to programs · $15 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating7 mo reserves · +2% 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 Lawrence and Memorial Hospital Inc: 7 mo reserves · +2% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Lawrence and Memorial Hospital Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Lawrence and Memorial Hospital Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To improve the health of the region and to provide healthcare services.
Contact & location
- Address
- 365 Montauk Ave, New London, CT, 06320
- City
- New London
- State
- Connecticut
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $358.3M (FY2013) to $501.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $130.4MNet assets $296.6M
Operating margin
1.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$427.0M
Total liabilities
$130.4M
Net assets
$296.6M
Salaries & benefits
$217.3M
44% of expenses
Board members
15
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $501,444,201▲6.3% | $493,280,785▲6.1% | $296,616,941▲5.5% | $426,995,625▲0.3% | 990 |
| 2022 | $471,777,121▲2.2% | $464,752,849▲5.0% | $281,034,893▲4.2% | $425,702,458▼6.8% | 990 |
| 2021 | $461,794,793▲4.8% | $442,738,204▲5.4% | $269,625,828▲2.3% | $456,988,884▼8.6% | 990 |
| 2020 | $440,849,922▲14.9% | $419,884,133▲6.3% | $263,602,835▲21.7% | $500,211,474▲8.6% | 990 |
| 2019 | $383,580,295▲1.1% | $394,935,731▲10.6% | $216,651,984▼1.7% | $460,648,797▲12.0% | 990 |
| 2018 | $379,401,803▲9.2% | $357,106,009▲9.6% | $220,472,366▲4.9% | $411,338,982▲0.2% | 990 |
| 2017 | $347,355,422▲2.3% | $325,708,955▲2.7% | $210,227,720▲19.6% | $410,610,409▲0.8% | 990 |
| 2016 | $339,617,657▼2.2% | $317,105,418▼8.0% | $175,836,228▲56.2% | $407,372,281▲16.3% | 990 |
| 2015 | $347,315,989▼5.5% | $344,753,369▼1.5% | $112,601,823▼12.4% | $350,297,218▼4.9% | 990 |
| 2014 | $367,512,307▲2.6% | $350,129,782▲0.5% | $128,481,722▼23.6% | $368,349,831▼6.6% | 990 |
| 2013 | $358,293,262 | $348,432,115▲11.7% | $168,209,447▼15.5% | $394,458,671▲0.2% | 990 |
| 2012 | — | $312,027,835▼1.9% | $199,164,500▲17.2% | $393,527,817▲6.9% | 990 |
| 2011 | — | $318,196,398▲1.2% | $169,995,622▲2.5% | $368,182,035▲4.2% | 990 |
| 2010 | — | $314,358,092▲4.9% | $165,780,673▲2.6% | $353,189,046▲4.3% | 990 |
| 2009 | — | $299,648,936 | $161,616,678 | $338,671,812 | 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: Oliver Mayorga — $667,025 (0.14% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Oliver Mayorga | Vp/cmo | 35 | $667,025 |
| Craig Mittleman | Ed Medical Director | 40 | $623,421 |
| Richard Lisitano | President/trustee | 35 | $554,857 |
| Benjamin Armstrong | Ed Physician | 40 | $542,427 |
| Kerin Dacruz | Vp/cno Term 2/2024 | 40 | $521,644 |
| Michael Joseph | Ed Physician | 40 | $504,738 |
| Peter Willis | Ed Physician | 40 | $423,267 |
| Nader Bahadory | Ed Physician | 40 | $404,436 |
| Shannon Christian | Svp/cno Effective 4/2024 | 40 | $250,905 |
| Daniel Brannegan | Trustee | 1 | — |
| Daniel Gaccione | Trustee | 1 | — |
| Denise Fiore | Former Officer | 0 | — |
| F Gregory Ahern | Trustee | 1 | — |
| Gail Kosyla | Treasurer | 1 | — |
| James Maynard | Trustee | 1 | — |
| John Holstein | Trustee | 1 | — |
| Kathleen Holt | Vice Chair/trustee | 1 | — |
| Marie Peakman | Trustee | 1 | — |
| Maureen Anderson | Former Officer | 0 | — |
| Nicholas Fortson | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Vaya Workforce Solutions LLC | Staffing Services | $14,883,350 |
| Ipc Hospitalists of New England PC | Hospitalists | $7,726,146 |
| Unitex Textile Rental Inc | Laundering Services | $1,440,239 |
| Payette Associates Inc | Architectural Services | $1,420,922 |
| Mass Park Inc | Parking Services | $1,064,404 |
Grants received · $2.8M total
27 grants to Lawrence and Memorial Hospital Inc totaling $2.8M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Houston Community Foundation | Health | 2024 | $33,333 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $1,004,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $155,225 |
| Donor Advised Charitable Giving | Health | 2023 | $74,100 |
| Greater Houston Community Foundation | Health | 2023 | $33,333 |
| National Philanthropic Tr | Environment, animals | 2023 | $19,167 |
| American Online Giving Foundation Inc | General support | 2023 | $5,338 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2022 | $1,041,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $126,375 |
| Donor Advised Charitable Giving | Health | 2022 | $75,914 |
| National Philanthropic Tr | Health | 2022 | $51,667 |
| Charities Aid Foundation America | Charitable donation | 2022 | $20,000 |
| The Seattle Foundation | To support the fi campaign for emergency dept. renovation project | 2022 | $10,000 |
| American Endowment Foundation | Health, general | 2022 | $5,000 |
| National Philanthropic Tr | Health | 2021 | $18,000 |
Grants made · $94K in FY2023
3 grants totaling $94K in FY2023. All grants made by Lawrence and Memorial Hospital Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Third Sector New England Inc | Support organization | $75,000 |
| Dr Martin Luther King Jr Scholarship Trust Fund | Support organization | $12,500 |
| Hispanic Alliance of Southeastern Connecticut Inc | Support organization | $6,000 |
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Compare Lawrence and Memorial Hospital Inc
Frequently asked questions
- Is Lawrence and Memorial Hospital Inc a legitimate nonprofit?
- Yes. Lawrence and Memorial Hospital Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 06-0646704, based in New London, Connecticut. Donations are tax-deductible.
- What is Lawrence and Memorial Hospital Inc's EIN?
- Lawrence and Memorial Hospital Inc's Employer Identification Number (EIN) is 06-0646704.
- How much revenue does Lawrence and Memorial Hospital Inc report?
- Lawrence and Memorial Hospital Inc reported $501,444,201 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Lawrence and Memorial Hospital Inc's spending goes to programs?
- Lawrence and Memorial Hospital Inc spends about 92% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Lawrence and Memorial Hospital Inc have?
- CharityIndex grades Lawrence and Memorial Hospital Inc A, based on program efficiency and fundraising cost.
- How much does Lawrence and Memorial Hospital Inc's highest-paid employee make?
- The highest reported compensation on Lawrence and Memorial Hospital Inc's latest Form 990 is $667,025, paid to Oliver Mayorga (Vp/cmo).
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Data for Lawrence and Memorial Hospital Inc (EIN 06-0646704) 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.