Overview
What is Loring Hospital?
Loring Hospital, located in Sac City, Iowa, is a vital component of the local healthcare system, dedicated to delivering quality medical services to the community. The hospital, with a workforce of 142 employees, offers inpatient and outpatient care for individuals suffering from various diseases, injuries, and complex health conditions. Despite some services not generating sufficient revenue, Loring Hospital remains committed to providing essential healthcare services, including general acute care, surgeries, cardiology, oncology, rehabilitation, laboratory services, pharmaceutical drugs, radiology, and numerous routine and ancillary services. These services cater to individuals irrespective of their race, creed, sex, nationality, disability, age, or ability to pay. In the fiscal period ending June 30, 2022, the hospital treated 126 patients, accounting for 398 patient days, and registered 24,145 outpatient visits, in addition to 2,381 emergency room visits. The hospital's mission is to enhance the health and well-being of the community through healing, caring, and education, offering personalized, cost-effective healthcare services.
Official website here: www.loringhospital.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Loring Hospital has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in Accountability & Finance. The 96% score indicates that the organization is effectively managing its resources, with a significant emphasis placed on having a mostly independent board and robust financial oversight measures in place. This level of accountability is essential for building trust with donors and stakeholders.
The organization's financial practices are solid, as demonstrated by its high scores in various categories, including a complete absence of material asset diversion and a high program expense ratio of 82.81%. Such metrics showcase Loring Hospital's commitment to directing a significant portion of its funding towards programs rather than administrative costs, enhancing its overall impact in the community it serves.
While the data is overwhelmingly positive, it is important for potential donors and supporters to remain informed about the organization's ongoing activities and programs. Continued transparency and effective communication will be vital for maintaining its strong reputation and donor confidence in future fiscal years.
This AI summary has been generated from information found on Charity Navigator.
Is Loring Hospital legitimate?
Loring Hospital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loring Hospital 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: $5,759,675
For more financial information, click here
Official website here: www.loringhospital.org
What is the mission statement of Loring Hospital?
Loring Hospital strives to enhance the health of community members through healing, caring, and education. By providing quality healthcare with a personal touch in a cost-effective manner, the hospital aims to make a significant impact on individuals' lives. Loring Hospital offers a range of medical services, including inpatient and outpatient care, surgeries, critical care, cardiology, oncology, rehabilitation, laboratory services, pharmaceutical drugs, radiology, and many other routine and ancillary services. The hospital is dedicated to serving all individuals, regardless of race, creed, sex, nationality, disability, age, or ability to pay. In the fiscal period ending June 30, 2022, the hospital admitted 126 patients and had a total of 398 patient days. Outpatient registrations totaled 24,145, and there were 2,381 emergency room visits. Despite not generating enough income to cover the costs of some services, the hospital remains committed to providing comprehensive healthcare to its patients.
Official website here: www.loringhospital.org
Who is the CEO of Loring Hospital?
Frank Richardson is the Chair of Loring Hospital.
Official website here: www.loringhospital.org
What is the revenue of Loring Hospital?
Loring Hospital's revenue in 2022 was $18,194,178.
Official website here: www.loringhospital.org
Who are the executives of Loring Hospital and what are their salaries?
The average compensation at Loring Hospital during 2022 was $40,561. There are 142 employees and 241 volunteers at Loring Hospital.
Here are 11 key members and their salaries:
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- Compensation: $151,771
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- Other: $21,980
- Compensation: $132,478
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- Other: $7,140
Official website here: www.loringhospital.org
Where can I find the form 990 for Loring Hospital?
Loring Hospital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.loringhospital.org
Learn more at the official website: www.loringhospital.org
Mission Statement of Loring Hospital
Loring Hospital, a vital component of the healthcare system in the community, is dedicated to enhancing the health and wellbeing of individuals through healing, caring, and education. With a personal touch and a commitment to providing quality healthcare in a cost-effective manner, the hospital offers a range of services designed to treat diseases, injuries, and illnesses of varying complexities.
The mission of Loring Hospital is to improve the health of its citizens by delivering quality healthcare, utilizing resources for the greatest community benefit. Regardless of race, creed, sex, nationality, disability, age, or ability to compensate for services rendered, all individuals receive access to essential medical services. Loring Hospital's offerings include, but are not limited to, general acute care, surgeries, critical care, cardiology, oncology, rehabilitation, laboratory services, pharmaceutical drugs, radiology, and numerous routine and ancillary services. Some services, though essential, do not generate enough income to offset their costs.
In the fiscal year ended June 30, 2022, Loring Hospital admitted 126 patients, resulting in a total of 398 patient days. The hospital's outpatient registrations totaled 24,145, and there were 2,381 emergency room visits. Despite the challenges presented by certain services not generating enough revenue to cover their costs, Loring Hospital remains steadfast in its commitment to providing essential healthcare services to the community it serves.
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Impact
October, 2024
Loring Hospital serves as a critical component of the healthcare delivery system in Sac County, Iowa, providing essential medical services to the community. It offers a wide range of inpatient and outpatient care aimed at addressing various diseases, illnesses, and injuries, ensuring that individuals receive the treatment they need regardless of their background or ability to pay.
The hospital's commitment to healthcare excellence is reflected in its offering of general acute care, surgeries, critical care, cardiology, oncology, and rehabilitation services, among others. This comprehensive approach not only improves the health of patients but also enhances their overall quality of life.
In the fiscal year ending June 30, 2022, Loring Hospital admitted 126 patients, contributing to a significant total of 398 patient days. Outpatient services are robust, with 24,145 registrations, alongside 2,381 emergency room visits—demonstrating the hospital's integral role in addressing urgent health needs within the community.
Loring Hospital’s mission emphasizes healing, caring, and education, as it strives to provide quality healthcare with a personal touch in a cost-effective manner, making it a vital resource for the citizens of Sac City and surrounding areas.
This information is meant to be a general summary of Loring Hospital. 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: $36,978
- Program Service Revenue: $17,154,724
- Gross Receipts: $18,194,178
Assets and Liabilities:
- Total Assets: $27,491,880
- Total Liabilities: $7,161,034
- Net Assets: $20,330,846
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET PATIENT REVENUE
Revenue
$17,154,724
Organization Details
Founding Year
1993
Phone
(712) 662-7105Principal Officer
Frank Richardson
Main Address
211 HIGHLAND AVENUE, SAC CITY, IA, 50583
Website
www.loringhospital.orgNTEE Category
Code: E22 - Health
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