Memorial Hospital

Analysis

Memorial Hospital is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in May 1932, 94 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, Memorial Hospital reported income of $2.2m and spending of $3.0m, spending 133% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $4.7m to $2.2m (-52%), an average of -17% a year. The sharpest change came in the year to September 2021, when income rose by 405%. Over the whole period it spent 208% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Hospital sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 83rd percentile within RI. Charities of a similar size with the same main cause include Maliheh Free Clinic ($2.2m), Rebekah Rehab Licensed Home Care Services Agency Inc ($2.2m) and Health Center Association of Nebraska ($2.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 85% of the total. At year end it held assets of $22.2m against liabilities of $126.1m, net assets of -$103.9m.