Lawrence and Memorial Hospital Inc

Analysis

Lawrence and Memorial Hospital Inc is a registered charity in United States, based in New London, CT. 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, Lawrence and Memorial Hospital Inc reported income of $471.8m and spending of $464.8m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $379.4m to $471.8m (+24%), an average of +5.6% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lawrence and Memorial Hospital Inc 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 CT. Charities of a similar size with the same main cause include St Joseph Regional Health Center ($471.1m), The Methodist Hospitals Inc ($472.2m) and Christus Health Ark-La-Tex ($470.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.6m (0.6% of expenses). Other salaries and wages came to $170.8m. At year end it held assets of $425.7m against liabilities of $144.7m, net assets of $281.0m. It reported 2,733 employees.