LAKEWOOD HEALTH SYSTEM
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
Compared with Peers
FY 2024| 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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