St Lukes Roosevelt Hospital Center

Analysis

St Lukes Roosevelt Hospital Center is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1936, 90 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, St Lukes Roosevelt Hospital Center reported income of $1.63bn and spending of $1.73bn, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.35bn to $1.63bn (+21%), an average of +4.8% a year. 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, St Lukes Roosevelt Hospital Center sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include Maimonides Medical Center- ($1.62bn), Lester E Cox Medical Center ($1.64bn) and Rex Hospital Inc ($1.62bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $5.7m (0.3% of expenses). Other salaries and wages came to $637.6m. At year end it held assets of $1.40bn against liabilities of $1.54bn, net assets of -$135.9m. It reported 8,301 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.