Civic Intelligence

Lake Area Hospital Association

EIN 46-0377853 • 501(c)3 • Webster, SD

Profile

Leasing of hospital facilities to organizations described in section 501(c)(3) of the internal revenue code for the provision of health care services to the community.

PO Box 489Webster, SD 57274

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2017

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2017

Net Margin

100th percentile

222%

Higher net margin than 100% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2016 to 2017

Assets

Down

$0

Down $1,596,672 (-100%) from 2016

Liabilities

Down

$0

Down $634,492 (-100%) from 2016

Net Assets

Down

$0

Down $962,180 (-100%) from 2016

Revenue

Down

-$218,748

Down $360,687 (-254%) from 2016

Expenses

Up

$265,861

Up $116,565 (+78%) from 2016

Net Income

Down

-$484,609

Down $477,252 (-6487%) from 2016

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $2,231,864Liabilities 2010: $1,079,664Net Assets 2010: $1,152,2002010Assets 2011: $2,190,077Liabilities 2011: $1,032,576Net Assets 2011: $1,157,5012011Assets 2012: $2,034,315Liabilities 2012: $880,870Net Assets 2012: $1,153,4452012Assets 2013: $1,963,529Liabilities 2013: $823,767Net Assets 2013: $1,139,7622013Assets 2014: $1,907,170Liabilities 2014: $763,743Net Assets 2014: $1,143,4272014Assets 2015: $1,670,219Liabilities 2015: $700,682Net Assets 2015: $969,5372015Assets 2016: $1,596,672Liabilities 2016: $634,492Net Assets 2016: $962,1802016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017

Highlighted filing

2017

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$500K$0-$500KExpenses 2010: $221,6012010Expenses 2011: $204,9092011Expenses 2012: $146,4092012Revenue 2013: $121,123Expenses 2013: $134,806Net Income 2013: -$13,6832013Revenue 2014: $140,459Expenses 2014: $136,794Net Income 2014: $3,6652014Revenue 2015: $173,321Expenses 2015: $347,211Net Income 2015: -$173,8902015Revenue 2016: $141,939Expenses 2016: $149,296Net Income 2016: -$7,3572016Revenue 2017: -$218,748Expenses 2017: $265,861Net Income 2017: -$484,6092017

Highlighted filing

2017

Revenue-$218,748
Expenses$265,861
Net Income-$484,609

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 15, 2018
Return Version
2017v2.3
Gross Receipts
$684,153
Mission and Program Overview

Mission

Leasing of hospital facilities to organizations described in section 501(c)(3) of the internal revenue code for the provision of health care services to the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$948,132--
Savings and Temporary Cash Investments$454,295--
Other Notes and Loans Receivable, Net$187,412--
Total Assets$1,596,672$0▼ $1,596,672
Other Assets Total$6,833--
Liabilities
Mortgage Notes Payable Secured by Investment Property$634,074--
Accounts Payable and Accrued Expenses$418--
Total Liabilities$634,492$0▼ $634,492
Net Assets / Fund Balance
Unrestricted Net Assets$862,388--
Temporarily Rstr Net Assets$99,792--
Total Net Assets Fund Balance$962,180$0▼ $962,180
Total Liabilities and Net Assets / Fund Balance$1,596,672$0▼ $1,596,672
Compensation and Service Providers

Board Members and Trustees

NameTitle
Stacy MountPresident
Lori AshDirector
Paula BearmanDirector
Tammy BlockSecretary
Monte RougemontTreasurer
Mike WylieVice-preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,862
Program Service Revenue
$78,750
Investment Income
$-299,360
Other Revenue
$0
All Other Contributions
$1,862
Change in Net Assets
$-484,609
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$263,611
Grants and Similar Amounts Paid$2,250
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses-$183,840-$183,840
Depreciation Depletion$45,231--$45,231
Interest$16,822--$16,822
Fees for Services Accounting-$6,191-$6,191
Fees for Services Legal-$5,811-$5,811
Insurance-$5,072-$5,072
Grants to Domestic Individuals$2,250--$2,250
Conferences and Meetings-$369-$369
Office Expenses-$275-$275
Total Functional Expenses$64,303$201,558$0$265,861
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 4

In 2017, sanford health network (former lessee) purchased the land, building, and equipment of lake area hospital association.

Form 990, Page 6, Part VI, Line 11B

Reviewed by financial staff, ceo & board of directors before filing

Form 990, Page 6, Part VI, Line 12C

PERIODIC REVIEW BY BOARD

Form 990, Page 6, Part VI, Line 15A

NO COMPENSATION

Form 990, Page 6, Part VI, Line 15B

NO COMPENSATION

Form 990, Page 6, Part VI, Line 19

Records are available on request guidestar.com

Filing and Contact Details

Filer

Filer Name
Lake Area Hospital Association
EIN
46-0377853
Phone
6053453336
Address
PO BOX 489, WEBSTER, SD 57274

Signing Officer

Name
Stacy Mount
Title
President
Phone
6053453336
Signed
2018-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stacy Mount
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Wohlenberg Ritzman & Co LLC
Address
PO BOX 1018, YANKTON, SD 57078
Preparer
Kathleen Doyle
Phone
6056654401
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Board members serve without compensation

Form 990, Part XI, Line 9

Transfer of assets -477,571 in 2017, sanford health network (former lessee) purchased the land, building, and equipment of lake area hospital association.

Raw XML Appendix357 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS SERVE WITHOUT COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN 2017, SANFORD HEALTH NETWORK (FORMER LESSEE) PURCHASED THE LAND, BUILDING, AND EQUIPMENT OF LAKE AREA HOSPITAL ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY FINANCIAL STAFF, CEO & BOARD OF DIRECTORS BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PERIODIC REVIEW BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RECORDS ARE AVAILABLE ON REQUEST GUIDESTAR.COM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7TRANSFER OF ASSETS -477,571 IN 2017, SANFORD HEALTH NETWORK (FORMER LESSEE) PURCHASED THE LAND, BUILDING, AND EQUIPMENT OF LAKE AREA HOSPITAL ASSOCIATION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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ReturnHeader/PreparerPersonGrp/PreparationDt02018-06-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHLEEN DOYLE
ReturnHeader/ReturnTs02018-06-25T11:18:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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