Olean General Hospital

Analysis

Olean General Hospital is a registered charity in United States, based in Olean, NY. It received its IRS tax-exemption ruling in October 1942, 84 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, Olean General Hospital reported income of $199.9m and spending of $210.5m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $192.6m to $199.9m (+3.8%), an average of +0.9% a year. Over the whole period it spent 104% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Olean General 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 Hudson Headwaters Health Network ($199.7m), Saint Francis Ministries Inc ($200.0m) and Hartford Healthcare Medical Group Inc ($199.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $3.1m (1.5% of expenses). Other salaries and wages came to $85.8m. At year end it held assets of $144.1m against liabilities of $74.4m, net assets of $69.7m. It reported 1,581 employees.