Hospice Care Network

Analysis

Hospice Care Network is a registered charity in United States, based in Westbury, NY. It received its IRS tax-exemption ruling in November 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hospice Care Network reported income of $62.8m and spending of $59.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $54.3m to $62.8m (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hospice Care Network sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Naval Continuing Care Retirement Foundation Inc ($62.7m), Young Womens Christian Association El Paso Del Norte Region ($62.9m) and New Hope Community Inc ($62.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.1% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $510k (0.9% of expenses). Other salaries and wages came to $28.2m. At year end it held assets of $92.6m against liabilities of $13.1m, net assets of $79.5m. It reported 465 employees.