Overview
What is Lakeview Methodist Health Care Foundation Inc?
Lakeview Methodist Health Care Foundation Inc, based in Fairmont, Minnesota, is a nonprofit organization that primarily focuses on supporting Lakeview Methodist Health Care Center, Woodland Manor, and Maplewood Residence. They achieve this by fundraising and managing their endowments, ensuring meaningful financial assistance for these organizations' needs, services, education, programs, and facilities. The foundation's mission is to enhance the operations of these institutions by providing the necessary financial backing. They manage and administer the endowments of Lakeview United Methodist Health Care Services, contributing to the overall well-being and sustainability of these healthcare institutions.
Official website here: www.lakeviewmethodist.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (68%)
Lakeview Methodist Health Care Foundation Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its accountability and financial management practices. The organization has scored well in several governance categories, including having a majority of independent board members and robust policies for conflict of interest and whistleblower protections. However, the foundation struggles with its program expense ratio, which is notably low at 28.81%, reflecting a limited focus on direct programmatic activities relative to its overall expenditures.
While the foundation maintains a strong emphasis on compliance and governance, as evidenced by its perfect scores in several key areas, the financial health indicators show room for concern. The liabilities to assets ratio of 54.74% suggests a considerable amount of debt compared to its assets. This situation can limit the foundation's financial flexibility and its ability to invest in programs that directly benefit the community.
Overall, while Lakeview Methodist Health Care Foundation demonstrates strong governance practices, the low program expense ratio and other financial challenges highlight significant areas for improvement. Stakeholders may want to monitor these aspects closely to ensure that the foundation is maximizing its impact in health care services.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeview Methodist Health Care Foundation Inc legitimate?
Lakeview Methodist Health Care Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeview Methodist Health Care Foundation 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: $65,805
For more financial information, click here
Official website here: www.lakeviewmethodist.org
What is the mission statement of Lakeview Methodist Health Care Foundation Inc?
The Lakeview Methodist Health Care Foundation's mission is to support the operations of Lakeview Methodist Health Care Center and Maplewood Residence. This is achieved by managing their endowments to provide substantial financial assistance for their needs, services, education, programs, and facilities. The foundation's activities include fundraising to enhance their resources and effectively manage the endowments to ensure ongoing meaningful support for these organizations. By doing so, the Lakeview Methodist Health Care Foundation aims to contribute significantly to the well-being and continuity of these health care services.
Official website here: www.lakeviewmethodist.org
Who is the CEO of Lakeview Methodist Health Care Foundation Inc?
Deborah M Barnes is the President of Lakeview Methodist Health Care Foundation Inc.
Official website here: www.lakeviewmethodist.org
What is the revenue of Lakeview Methodist Health Care Foundation Inc?
Lakeview Methodist Health Care Foundation Inc's revenue in 2022 was $189,937.
Official website here: www.lakeviewmethodist.org
Who are the executives of Lakeview Methodist Health Care Foundation Inc and what are their salaries?
There 9 volunteers at Lakeview Methodist Health Care Foundation Inc.
Here are 12 key members and their salaries:
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- Related: $95,266
- Other: $4,092
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- Related: $31,070
- Other: $5,421
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- Related: $44,870
- Other: $1,902
Official website here: www.lakeviewmethodist.org
Where can I find the form 990 for Lakeview Methodist Health Care Foundation Inc?
Lakeview Methodist Health Care Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakeviewmethodist.org
Learn more at the official website: www.lakeviewmethodist.org
Mission Statement of Lakeview Methodist Health Care Foundation Inc
Lakeview Methodist Health Care Foundation Inc is dedicated to supporting the operations, needs, services, education, programs, and facilities of Lakeview United Methodist Health Care Services, Woodland Manor, and Maplewood Residence. Their mission is to manage and administer the endowments of these entities, providing meaningful financial support to enhance their operations. The foundation achieves this goal by raising funds and managing their endowments effectively, ensuring that these vital healthcare organizations have the resources they need to fulfill their respective missions.
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Impact
October, 2024
Lakeview Methodist Health Care Foundation Inc significantly impacts the health and wellness of the Fairmont community by managing and administering the endowments created for Lakeview Methodist Health Care Center, Woodland Manor, and Maplewood Residence. Through dedicated fundraising efforts, the foundation provides vital financial support that addresses the needs, services, education, programs, and facilities required by these health care organizations.
By ensuring a sustainable financial backbone, the foundation enables these facilities to enhance their offerings, improve patient care, and expand services for residents. Their commitment to philanthropy not only facilitates essential programs but also enriches the overall experience for individuals receiving care, ultimately fostering a healthier and more supportive community environment.
This information is meant to be a general summary of Lakeview Methodist Health Care Foundation 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.
- Gross Receipts: $189,937
Assets and Liabilities:
- Total Assets: $1,422,714
- Total Liabilities: $713,844
- Net Assets: $708,870
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Organization Details
Founding Year
1983
Phone
(507) 235-6606Principal Officer
Deborah M Barnes
Main Address
610 SUMMIT DRIVE, FAIRMONT, MN, 56031
Website
www.lakeviewmethodist.orgNTEE Category
Code: T30 - Philanthropy
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