Floating Hospital Inc

Analysis

Floating Hospital Inc is a registered charity in United States, based in Long Is City, NY. It received its IRS tax-exemption ruling in July 1924, 102 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Floating Hospital Inc reported income of $32.4m and spending of $31.1m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.5m to $32.4m (+51%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Floating Hospital Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Anchorage Community Mental Health Services Inc ($32.4m), Texas Health Urgent Care ($32.4m) and Iowa Prescription Drug Corporation ($32.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $777k (2.5% of expenses). Other salaries and wages came to $14.0m. At year end it held assets of $16.2m against liabilities of $6.5m, net assets of $9.7m. It reported 286 employees.