Shore Memorial Hospital

Analysis

Shore Memorial Hospital is a registered charity in United States, based in Somers Point, NJ. It received its IRS tax-exemption ruling in August 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, Shore Memorial Hospital reported income of $242.1m and spending of $214.4m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $200.2m to $242.1m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Shore Memorial 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 100th percentile within NJ. Charities of a similar size with the same main cause include Healtheast Woodwinds Hospital ($241.9m), Capital Region Medical Center ($242.9m) and McLeod Physician Associates II ($241.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $5.4m (2.5% of expenses). Other salaries and wages came to $72.5m. At year end it held assets of $330.8m against liabilities of $57.2m, net assets of $273.6m. It reported 1,436 employees.