Overview
What is Lakeland Regional Medical Center Inc?
Lakeland Regional Medical Center Inc, a prominent nonprofit organization, is dedicated to delivering superior healthcare services and promoting wellness in their community. They strive for national recognition as a financially robust and expanding collaborative healthcare system. By focusing on safety, high quality, equity, and affordability, they aim to make a positive impact on people's lives. Their commitment extends beyond direct care, as they also prioritize the promotion of individual and community health, wellness, and disease prevention.
Official website here: www.mylrh.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
Lakeland Regional Medical Center Inc has received an overall score of 86%, which translates into a Three-Star rating from Charity Navigator. This rating is primarily based on the organization's strong performance in the Accountability & Finance category, where it scored exceptionally well in various metrics. The organization boasts a fully independent board and has demonstrated transparency in its financial reporting and governance practices.
The nonprofit's strengths include a high program expense ratio of 88.62%, indicating that a significant portion of its expenditures goes directly toward its programs. Additionally, it has established robust policies for conflict of interest, whistleblower protections, and document retention, which reflect a commitment to ethical operations and oversight. The absence of any material diversion of assets further underscores its financial integrity.
However, there are areas that may present challenges, notably its liabilities to assets ratio of 63.32%. While this is not uncommon for nonprofits, it suggests a relatively high level of debt in relation to its assets, which could be a point of concern for stakeholders. Overall, Lakeland Regional Medical Center Inc demonstrates strong accountability and operational effectiveness, but it may need to address its financial leverage moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeland Regional Medical Center Inc legitimate?
Lakeland Regional Medical Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeland Regional Medical Center 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: $9,869,353
Professional Fundraising Fees: $0
Other Salaries and Wages: $373,221,222
For more financial information, click here
Official website here: www.mylrh.org
What is the mission statement of Lakeland Regional Medical Center Inc?
Lakeland Regional Medical Center Inc is dedicated to advancing as a reputable, financially stable, and expanding healthcare system. Their primary goal is to enhance lives by delivering safe, top-notch, accessible, and affordable healthcare services. This commitment extends beyond individual care, as they also prioritize the promotion of overall health, wellness, and disease prevention for the community.
Official website here: www.mylrh.org
What is the revenue of Lakeland Regional Medical Center Inc?
Lakeland Regional Medical Center Inc's revenue in 2023 was $1,158,223,255.
Official website here: www.mylrh.org
Who are the executives of Lakeland Regional Medical Center Inc and what are their salaries?
The average compensation at Lakeland Regional Medical Center Inc during 2023 was $52,128. There are 7349 employees and 120 volunteers at Lakeland Regional Medical Center Inc.
Here are 37 key members and their salaries:
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- Compensation: $1,468,000
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- Other: $75,274
- Compensation: $694,982
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- Other: $105,647
- Compensation: $508,535
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- Other: $71,150
- Compensation: $421,260
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- Compensation: $419,226
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- Other: $70,177
- Compensation: $506,899
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- Other: $162,081
- Compensation: $493,421
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- Compensation: $555,676
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- Other: $175,045
- Compensation: $453,422
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- Other: $4,620
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- Related: $712,858
- Other: $54,783
- Compensation: $760,671
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- Other: $135,719
- Compensation: $741,414
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- Other: $85,324
- Compensation: $461,555
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- Other: $81,542
- Compensation: $482,887
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- Other: $59,194
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- Other: $98,942
- Compensation: $880,527
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- Other: $67,019
- Compensation: $447,874
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- Other: $58,287
- Compensation: $370,583
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- Other: $42,461
- Compensation: $548,764
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- Other: $36,742
- Compensation: $433,172
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- Other: $49,408
- Compensation: $454,274
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- Other: $33,683
- Compensation: $334,784
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- Other: $28,595
Official website here: www.mylrh.org
Where can I find the form 990 for Lakeland Regional Medical Center Inc?
Lakeland Regional Medical Center Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mylrh.org
Learn more at the official website: www.mylrh.org
Mission Statement of Lakeland Regional Medical Center Inc
Lakeland Regional Medical Center Inc, a growing and collaborative health system, is dedicated to enhancing lives through the provision of safe, high-quality, equitable, and affordable healthcare. The organization aspires to be recognized nationally for its commitment to improving individual and community health, wellness, and disease prevention. It strives for fiscal strength and growth, ensuring it remains at the forefront of healthcare innovation. By offering healthcare services that prioritize safety and quality, Lakeland Regional Medical Center Inc aims to build trust and confidence within the communities it serves. Its mission extends beyond direct patient care, as it equally values the promotion of individual and community health, focusing on wellness and disease prevention.
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Impact
October, 2024
Lakeland Regional Medical Center Inc plays a vital role in enhancing community health and wellness in Lakeland, Florida. The institution is committed to offering safe, high-quality, and equitable healthcare that not only addresses immediate medical needs but also promotes long-term wellness and disease prevention. By focusing on a collaborative regional health system, Lakeland Regional Health seeks to improve lives and foster a healthier community.
Their strategic initiatives aim to establish the center as a nationally recognized leader in healthcare. By placing people at the heart of their operations, they deliver optimal outcomes and ensure patient safety. The organization actively engages in educational programs and health promotion activities, which empower individuals and communities to take control of their health. This multi-faceted approach not only impacts individual patients but also contributes to the overall health landscape of the region, making it a cornerstone of health and wellness in the community.
This information is meant to be a general summary of Lakeland Regional Medical Center 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 2023.
- Investment Income: $111,117
- Program Service Revenue: $1,153,296,494
- Gross Receipts: $1,158,223,255
Assets and Liabilities:
- Total Assets: $1,047,675,429
- Total Liabilities: $663,481,552
- Net Assets: $384,193,877
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Patient Service Revenu
Revenue
$885,258,542
Medicare/Medicaid
Revenue
$245,326,458
GME Startup Funding
Revenue
$9,900,000
Cafeteria Revenue
Revenue
$6,110,742
Other Operating Revenu
Revenue
$5,489,985
Organization Details
Founding Year
1914
Principal Officer
Danielle Drummond
Website
www.mylrh.orgNTEE Category
Code: E220 - Health
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