Southcoast Hospitals Group Inc

Analysis

Southcoast Hospitals Group Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in May 1986, 40 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, Southcoast Hospitals Group Inc reported income of $1.12bn and spending of $1.03bn, spending 92% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $897.3m to $1.12bn (+25%), an average of +5.7% a year. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Southcoast Hospitals Group Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Gundersen Lutheran Medical Center Inc ($1.11bn), Mercy Hospital Springfield ($1.12bn) and McLeod Regional Medical Center of the Pee Dee Inc ($1.11bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $8.1m (0.8% of expenses). Other salaries and wages came to $368.2m. At year end it held assets of $1.04bn against liabilities of $447.1m, net assets of $597.6m. It reported 6,556 employees.