Kent County Memorial Hospital

Analysis

Kent County Memorial Hospital is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in January 1955, 71 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, Kent County Memorial Hospital reported income of $646.0m and spending of $668.2m, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $520.0m to $646.0m (+24%), an average of +5.6% a year. The sharpest change came in the year to September 2021, when income rose by 22%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Kent County Memorial Hospital sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within RI. Charities of a similar size with the same main cause include Henry Ford Macomb Hospital Corporation ($645.4m), United Hospital Center Inc ($646.2m) and St Lukes Episcopal-Presbyterian Hospital ($644.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.9m (0.4% of expenses). Other salaries and wages came to $267.6m. At year end it held assets of $273.9m against liabilities of $203.9m, net assets of $70.0m. It reported 2,956 employees.