Lakewood Health System
Nonprofit profile at a glance
- EIN
- 411842965
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Staples, MN, US
- Phone
- 218-894-1515
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Health Systems
Reported finances
- Revenue
- $162,872,023
- Expenses
- $160,305,049
- Assets
- $206,834,353
- Liabilities
- $98,323,850
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- LISA BJERGA (CEO & PRESIDENT)
Highest reported compensation
- LISA BJERGA (CEO & PRESIDENT): $649,186 total reported compensation
- CHRISTINE ALBRECHT (CHIEF MEDICAL OFFICER): $563,235 total reported compensation
- CODY CRAWFORD (CRNA): $395,527 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Care you know and trust at Lakewood Health System. We're here for you when it matters most.
What it reported doing in 2024
Hospital and clinics -lakewood health system (the organization) operates a 25-bed critical access hospital providing inpatient, outpatient, emergency, and other specialty health care services, including a 10-bed geriatric behavioral health unit in staples, Minnesota. The organization also operates rural health clinics located in staples, motley, pillager, eagle bend, and browerville, Minnesota. Physicians, physicians' assistants, and nurse practitioners provide clinic patients with primary care and other health care services. In addition, the organization operates a dermatology clinic in sartell, Minnesota.the organization provided for 3,808 inpatient hospital and swing-bed days, 157 icu days, 643 inpatient geriatric behavioral health unit days, 100,205 medical and mental health rural health clinic visits and 9,799 dermatology clinic visits.
Operating model
- Revenue model
- Other-operating. 98% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 79
- Accountability: 95
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83.5%; rating input score 83
- Program expense ratio: 84.7%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 90.9%; rating input score 91; 39th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 1.29; rating input score 48; 48th percentile among comparable filings
- Liabilities to assets ratio: 0.48; rating input score 38; 38th percentile among comparable filings
- Officer compensation ratio: 2.7%; rating input score 42; 42nd percentile among comparable filings
Growth
- Program expense growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: 6.9% per year; rating input score 100; 51st percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 83.5% of revenue deployed · 84.7% of spending went to programs
- Governance: 10 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $135.7M in reported program spending
- Leadership: top reported pay $649K · 25 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $30.2M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 11 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 25 filed money-flow records
- Related organizations: 3 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 40/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
- Moderate — Sustainability: Officer compensation ratio scored 42/100.