Newport Hospital

Analysis

Newport Hospital is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in March 1937, 89 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, Newport Hospital reported income of $149.0m and spending of $143.7m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $127.7m to $149.0m (+17%), an average of +3.9% a year. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Newport Hospital sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within RI. Charities of a similar size with the same main cause include Mental Health Center of Denver ($149.0m), Northeast Valley Health Corporation ($149.2m) and Community Memorial Hospital ($149.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.7% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $835k (0.6% of expenses). Other salaries and wages came to $60.8m. At year end it held assets of $332.9m against liabilities of $32.2m, net assets of $300.7m. It reported 1,086 employees.