Charity Search / LAKEWOOD HEALTH SYSTEM
Health Care (E21Z) IRS Verified DX Registered 990 on File

LAKEWOOD HEALTH SYSTEM

EIN: 41-1842965 · STAPLES, MN 56479-0000 · United States · FY 2024 Data
3 out of 5 59 / 100 Based on 2+ years of filings
Financial strength (30%) 91/100
Reliability (20%) 55/100
Effectiveness (25%) 88/100
Impact (25%) No data yet
Financial data: FY 2024 · Scored 9/13/2026
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CharityAI™ Score
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Mission Statement

akewood Health System is an integral part of our community and economic development, and the Lakewood Foundation exists to ensure our communities continue to thrive and grow. Gifts from supporters like you enable us to provide vital care and services far beyond what we are reimbursed for and help us fulfill our mission of improving the health of all members of the communities we serve. The Foundation holds three primary fundraisers throughout the year to raise money in support of community health-related projects. Fundraisers include: Give Orange: Annual Auction + Fundraiser With the unprecedented growth of the Lakewood oncology program and the recent announcement of the new Lakewood Cancer Center, the Foundation has established the “We Chose Hope” Oncology Support Fund. This fund is specifically designed to support oncology patients experiencing financial hardships during their treatment at Lakewood. This fundraiser raises money for this fund. Golf Classic The annual Foundation Golf Classic is held at The Vintage Golf Club in Staples every August. Teams play 18 holes, with an afternoon tee time. All funds raised go towards healthcare needs and services at Lakewood and the communities we serve. Seasons of Lights Presented by the Lakewood Health System Foundation and Lakewood Hospice program, the lighting ceremony is a meaningful way to honor hospice patients who have passed in the last year. Loved ones can purchase a light for the memorial tree which will be lit during the event. Contributions benefit Lakewood’s hospice program.

Financial Overview — FY 2024
$162.9M
Total Revenue
$160.3M
Total Expenses
$108.5M
Net Assets
1126
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 84.7%
Fundraising Efficiency 0.0%
Operating Reserve 8.12x
Liability-to-Asset 47.5%
Revenue Diversification 98.1%
Executive Compensation $2.3M
Compared with Peers
FY 2024
Compared with 938 similar organizations (United States, Health Care, $100M and over in expenses), FY 2024.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
84.7% 87.7%
P10P90
Below median
Admin expense ratio
Management and general / total expenses · lower is better
15.3% 12.3%
P10P90
Below median
Fundraising expense ratio
Fundraising expenses / total expenses · lower is better
0.0% 0.0%
P10P90
Top quarter
Fundraising efficiency
Fundraising expenses / gross fundraising income · lower is better
0.0% 565.8%
P10P90
Top quarter
Operating reserve
Months of expenses covered by net assets · higher is better
8.1 mo 6.1 mo
P10P90
Above median
Liabilities to assets
Total liabilities / total assets · lower is better
47.5% 44.5%
P10P90
Below median
Revenue concentration
Share of revenue from the largest source · lower is better
98.1% 96.4%
P10P90
Below median
Revenue growth
Year over year revenue growth
10.0% 9.1%
P10P90
Expense growth
Year over year expense growth
10.8% 7.8%
P10P90
Surplus margin
Surplus as a share of revenue
1.6% 2.5%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2024 $162.9M $160.3M $108.5M 84.7% 1126
2023 $148.0M $144.7M $104.4M 83.7% 1094
2022 $136.4M $125.7M $97.3M 81.5% 1009
2021 $128.1M $121.0M $90.7M 81.6% 960
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Organization Details
EIN
41-1842965
State
MN
City
STAPLES
ZIP
56479-0000
Classification
E21Z
Category
Health Care
Rating
3★
Coverage
A
Last Updated
Aug 2026
Foundation Code
12
Form 990
On File
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