Putnam Hospital Center

Analysis

Putnam Hospital Center is a registered charity in United States, based in Carmel, NY. It received its IRS tax-exemption ruling in May 1962, 64 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 September 2023, Putnam Hospital Center reported income of $108.8m and spending of $151.3m, spending 139% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $115.1m to $108.8m (-5.5%), an average of -1.4% a year. The sharpest change came in the year to September 2020, when income rose by 29%. Over the whole period it spent 115% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Putnam Hospital Center sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Upmc ($108.7m), Vista Community Clinic ($108.8m) and Avera St Marys ($108.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.6% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $710k (0.5% of expenses). Other salaries and wages came to $63.4m. At year end it held assets of $159.7m against liabilities of $105.7m, net assets of $54.0m. It reported 822 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.