Millinocket Regional Hospital

Analysis

Millinocket Regional Hospital is a registered charity in United States, based in Millinocket, ME. It received its IRS tax-exemption ruling in June 1956, 70 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Millinocket Regional Hospital reported income of $31.8m and spending of $31.7m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $32.3m to $31.8m (-1.8%), an average of -0.4% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Millinocket Regional Hospital sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include The Rochester Friendly Home ($31.7m), Columbia Basin Circle of Care ($31.8m) and Asian American Health Coalition of the Greater Houston Area ($31.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.7% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $2.0m (6.4% of expenses). Other salaries and wages came to $12.6m. At year end it held assets of $15.6m against liabilities of $6.3m, net assets of $9.3m. It reported 276 employees.