Lawrence General Hospital

Nonprofit profile at a glance

EIN
042103586
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Lawrence, MA, USA
Phone
9786834000
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Hospitals

Official website

Reported finances

Revenue
$367,577,952
Expenses
$366,246,674
Assets
$309,831,933
Liabilities
$295,452,010

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • ABHA AGRAWAL (PRESIDENT & CEO (UNTIL 02/2025))
  • DIANA L RICHARDSON (PRESIDENT & CEO (AS OF 04/2025))
  • ROBIN HYNDS (INTERIM PRESIDENT & CEO (02/2025 - 04/2025); COO)

Highest reported compensation

  • ABHA AGRAWAL (PRESIDENT & CEO (UNTIL 02/2025)): $923,247 total reported compensation
  • SUNIT MUKHERJEE MD (CHIEF CARDIOVASCULAR & AMBULATORY MEDICINE): $642,346 total reported compensation
  • DAVID GOSSMAN (MEDICAL DIRECTOR - CARDIOLOGY): $621,877 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To operate and maintain an acute care general hospital. Provide appropriate hospital and other related health services to all patients regardless of race, color, creed or national origin. Provide access to medically necessary services for area residents regardless of ability to pay. Assure the ongoing process of continuously improving patient care quality.

What it reported doing in 2024

Other program service revenue from lawrence general hospital primarily consists of cafeteria receipts, intercompany reimbursements, dsti waiver funds, and dsrip funds. In addition, there is lawrence integrated health provider network llc, a disregarded limited liability company (llc), located in lawrence, Massachusetts setup to bring affiliated and employed providers together under the umbrella of one clinically integrated network to improve continuity of and access to care for patients in our service area.

Operating model

Revenue model
Other-operating. 100% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 100
  • Accountability: 94
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.4%; rating input score 71
  • Program expense ratio: 71.6%; rating input score 72
  • Fundraising efficiency: $2.03 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • 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: Yes; rating input score 100

Accountability

  • Independent voting board: 88.9%; rating input score 89; 36th 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: 0.4%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 71.4% of revenue deployed · 71.6% of spending went to programs
  • Governance: 16 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $262.3M in reported program spending
  • Leadership: top reported pay $923K · 32 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $47M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 10 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 6/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.