Garnet Health Medical Center

Analysis

Garnet Health Medical Center is a registered charity in United States, based in Middletown, NY. It received its IRS tax-exemption ruling in December 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 December 2023, Garnet Health Medical Center reported income of $586.2m and spending of $653.3m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $546.4m to $586.2m (+7.3%), an average of +1.8% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Garnet Health Medical Center sits at the 99th percentile: it is larger than about 99% of them. 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 Good Samaritan Hospital Corvallis ($585.1m), Baylor All Saints Medical Center ($588.6m) and Saint Peters University Hospital ($584.6m).

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 $430k (0.1% of expenses). Other salaries and wages came to $247.2m. At year end it held assets of $556.3m against liabilities of $457.9m, net assets of $98.4m. It reported 3,907 employees.