Georgetown Hospital System

Analysis

Georgetown Hospital System is a registered charity in United States, based in Georgetown, SC. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Georgetown Hospital System reported income of $89.9m and spending of $109.2m, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $33.2m to $89.9m (+171%), an average of +28% a year. The sharpest change came in the year to September 2021, when income rose by 69%. Over the whole period it spent 146% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Georgetown Hospital System sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Advocates for a Healthy Community Inc ($89.7m), Lubbock Heritage Hospital LLC ($90.0m) and Fox Chase Cancer Center Medical Group Inc ($89.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 33% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $1.0m (0.9% of expenses). Other salaries and wages came to $70.0m. At year end it held assets of $107.4m against liabilities of $22.2m, net assets of $85.2m. It reported 2,607 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.