Holyoke Medical Center Inc

Analysis

Holyoke Medical Center Inc is a registered charity in United States, based in Holyoke, MA. It received its IRS tax-exemption ruling in October 1985, 41 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, Holyoke Medical Center Inc reported income of $245.5m and spending of $248.6m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $183.0m to $245.5m (+34%), an average of +7.6% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Holyoke Medical Center Inc 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 MA. Charities of a similar size with the same main cause include Saint Lukes South Hospital Inc ($244.2m), St Lukes West Ltd ($246.1m) and Castle Medical Center ($244.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 5.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $899k (0.4% of expenses). Other salaries and wages came to $121.0m. At year end it held assets of $123.5m against liabilities of $82.8m, net assets of $40.8m. It reported 1,964 employees.