Lawrence General Hospital

Analysis

Lawrence General Hospital is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in August 1942, 84 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 September 2023, Lawrence General Hospital reported income of $340.8m and spending of $345.5m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $261.9m to $340.8m (+30%), an average of +6.8% a year. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lawrence General Hospital sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Bronson Battle Creek Hospital ($340.2m), Touro Infirmary ($342.3m) and Van Andel Research Institute ($340.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $2.6m (0.8% of expenses). Other salaries and wages came to $142.0m. At year end it held assets of $271.1m against liabilities of $233.7m, net assets of $37.4m. It reported 2,271 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.