Penobscot Valley Hospital

Analysis

Penobscot Valley Hospital is a registered charity in United States, based in Lincoln, ME. It received its IRS tax-exemption ruling in January 2002, 24 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 December 2023, Penobscot Valley Hospital reported income of $23.6m and spending of $25.4m, spending 108% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $17.9m to $23.6m (+32%), an average of +9.8% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Penobscot Valley Hospital sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within ME. Charities of a similar size with the same main cause include Development Centers Inc ($23.6m), Seacoast Mental Health Center Inc ($23.7m) and University Psychiatric Practice Inc ($23.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $596k (2.3% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $7.7m against liabilities of $6.3m, net assets of $1.4m. It reported 254 employees.