Corning Hospital

Analysis

Corning Hospital is a registered charity in United States, based in Corning, NY. It received its IRS tax-exemption ruling in September 1953, 73 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 June 2023, Corning Hospital reported income of $183.1m and spending of $161.0m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $136.7m to $183.1m (+34%), an average of +7.6% a year. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Corning Hospital sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Auburn Community Hospital ($183.1m), Behavioral Health Network Inc ($183.3m) and Montgomery General Hospital Inc ($182.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $704k (0.4% of expenses). Other salaries and wages came to $41.4m. At year end it held assets of $548.4m against liabilities of $298.0m, net assets of $250.3m. It reported 811 employees.