Overview
What is Lgh Administrative Services Inc?
Lgh Administrative Services Inc, based in Lawrence, Massachusetts, is a supportive entity for Lawrence General Hospital. As a Qualified Active Low Income Community Business (QALICB), its primary role is to manage funds and other assets for the hospital, furthering its objectives. Currently, Lgh Administrative Services Inc is constructing a new surgical building for future use by Lawrence General Hospital, demonstrating its commitment to enhancing healthcare facilities within the community.
Official website here: www.lawrencegeneral.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Lgh Administrative Services Inc has received an 81% rating from Charity Navigator, indicating a solid level of accountability and financial health. This rating is based solely on their Accountability & Finance score, suggesting that the organization is well-managed in terms of fiscal responsibility and governance practices.
The organization showcases strong governance features, including a board composed of 75% independent members and a comprehensive set of policies related to conflicts of interest and document retention. They also have an effective audit and oversight committee, which further enhances their financial integrity. The absence of any material diversion of assets underscores their commitment to ethical practices.
However, the organization has a high liabilities to assets ratio at 82.35%, which may raise concerns about financial stability. Despite this, their program expense ratio is exemplary at 100%, indicating that all funds are directed toward their programs, reflecting a strong commitment to their mission. Overall, Lgh Administrative Services Inc demonstrates a commendable commitment to accountability, although potential financial risk should be monitored closely.
This AI summary has been generated from information found on Charity Navigator.
Is Lgh Administrative Services Inc legitimate?
Lgh Administrative Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lgh Administrative Services Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lawrencegeneral.org
What is the mission statement of Lgh Administrative Services Inc?
LGH Administrative Services Inc, serving as a Qualified Active Low Income Community Business (QALICB), supports Lawrence General Hospital by managing funds and other assets, and aids in the functions of the hospital. The primary objective of LGH Administrative Services Inc is to contribute to the purpose and mission of its parent company, Lawrence General Hospital, which encompasses owning, acquiring, and maintaining real estate. The organization's role is to ensure the smooth operation and support of the hospital's objectives.
Official website here: www.lawrencegeneral.org
Who is the CEO of Lgh Administrative Services Inc?
William Sullivan is the President & Ceo (End 5/23) of Lgh Administrative Services Inc. The CEO's salary of Lgh Administrative Services Inc is $0 and their total compensation is $226,483.
Official website here: www.lawrencegeneral.org
What is the revenue of Lgh Administrative Services Inc?
Lgh Administrative Services Inc's revenue in 2022 was $846,129.
Official website here: www.lawrencegeneral.org
Who are the executives of Lgh Administrative Services Inc and what are their salaries?
There 3 volunteers at Lgh Administrative Services Inc.
Here are 9 key members and their salaries (Lgh Administrative Services Inc's CEO's salary is $0 and their total compensation is $226,483):
- Compensation: $0
- Related: $866,633
- Other: $44,845
- Compensation: $0
- Related: $346,076
- Other: $29,723
- Compensation: $0
- Related: $311,840
- Other: $29,640
- Compensation: $0
- Related: $309,283
- Other: $23,285
- Compensation: $0
- Related: $227,216
- Other: $20,141
- Compensation: $0
- Related: $219,919
- Other: $6,564
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lawrencegeneral.org
Where can I find the form 990 for Lgh Administrative Services Inc?
Lgh Administrative Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lawrencegeneral.org
Learn more at the official website: www.lawrencegeneral.org
Mission Statement of Lgh Administrative Services Inc
LGH Administrative Services Inc, as a Qualified Active Low Income Community Business (QALICB), plays a crucial role in supporting the purpose and mission of its parent company, Lawrence General Hospital. Its primary objective is to manage funds and other assets for, and otherwise assist in the functions of, the hospital. This support extends to the acquisition, maintenance, and ownership of real estate, all with the aim of contributing to the hospital's overall objectives. In essence, LGH Administrative Services Inc acts as a key facilitator, helping Lawrence General Hospital to achieve its goals effectively.
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Impact
October, 2024
Lgh Administrative Services Inc significantly impacts the healthcare landscape in Lawrence, MA, by developing essential infrastructure to support local medical services. The organization is currently constructing a new surgical building aimed at enhancing the operational capabilities of Lawrence General Hospital. This development not only increases access to necessary surgical procedures for the community but also aligns with the economic goals of serving low-income populations in the area.
By facilitating the management of funds and assets for the hospital, Lgh Administrative Services Inc ensures that resources are allocated efficiently to support healthcare delivery. Their role as a Qualified Active Low-Income Community Business underscores their commitment to fostering economic growth and improving healthcare access for underserved communities. Through these efforts, they contribute to the overall well-being of the population by addressing both immediate healthcare needs and long-term community development.
This information is meant to be a general summary of Lgh Administrative Services Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $30
- Program Service Revenue: $846,099
- Gross Receipts: $846,129
Assets and Liabilities:
- Total Assets: $33,792,000
- Total Liabilities: $27,830,000
- Net Assets: $5,962,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NSB RENT PAYMENTS
Revenue
$846,099
Organization Details
Founding Year
2013
Phone
(978) 683-4000Principal Officer
William Sullivan
Main Address
1 GENERAL STREET, LAWRENCE, MA, 01841
Website
www.lawrencegeneral.orgNTEE Category
Code: B19 - Education
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