Holy Name Medical Center Inc

Analysis

Holy Name Medical Center Inc is a registered charity in United States, based in Teaneck, NJ. It received its IRS tax-exemption ruling in March 1946, 80 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, Holy Name Medical Center Inc reported income of $560.9m and spending of $553.0m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $462.9m to $560.9m (+21%), an average of +4.9% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Holy Name Medical Center Inc sits at the 99th percentile: it is larger than about 98% 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 Banner Medical Group ($560.7m), Glendale Adventist Medical Center ($562.2m) and Baycare Medical Group Inc ($559.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $7.7m (1.4% of expenses). Other salaries and wages came to $198.7m. At year end it held assets of $492.5m against liabilities of $191.3m, net assets of $301.2m. It reported 3,269 employees.