Glen Cove Hospital

Analysis

Glen Cove Hospital is a registered charity in United States, based in Westbury, NY. It received its IRS tax-exemption ruling in April 1956, 70 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 December 2023, Glen Cove Hospital reported income of $239.8m and spending of $245.9m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $143.3m to $239.8m (+67%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Glen Cove Hospital sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Baptist Memorial Hospital Tipton ($238.8m), Piedmont Rockdale Hospital Inc ($239.9m) and Geisinger-Lewistown Hospital ($238.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $740k (0.3% of expenses). Other salaries and wages came to $133.5m. At year end it held assets of $163.5m against liabilities of $113.8m, net assets of $49.7m. It reported 1,699 employees.