Lahey Clinic Hospital Inc

Analysis

Lahey Clinic Hospital Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in October 1994, 32 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, Lahey Clinic Hospital Inc reported income of $1.16bn and spending of $1.08bn, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.09bn to $1.16bn (+6.1%), an average of +1.5% a year. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lahey Clinic Hospital Inc sits at the 99th percentile: it is one of the largest 1% in its cause. 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 Valley Hospital Inc ($1.15bn), St Lukes Hospital of Kansas City ($1.16bn) and Eastern Maine Healthcare Systems ($1.15bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $5.0m (0.5% of expenses). Other salaries and wages came to $364.5m. It paid $129k in professional fundraising fees. At year end it held assets of $222.3m against liabilities of $222.3m, net assets of -$39k. It reported 5,738 employees.