Reading Hospital

Analysis

Reading Hospital is a registered charity in United States, based in West Reading, PA. It received its IRS tax-exemption ruling in March 1936, 90 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 June 2023, Reading Hospital reported income of $1.38bn and spending of $1.21bn, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.02bn to $1.38bn (+35%), an average of +7.9% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Reading Hospital 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 PA. Charities of a similar size with the same main cause include Baptist Health ($1.38bn), Childrens Hospital Medical Center of Akron ($1.38bn) and Providence Medical Foundation ($1.35bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $4.1m (0.3% of expenses). Other salaries and wages came to $453.6m. At year end it held assets of $1.00bn against liabilities of $1.63bn, net assets of -$622.2m. It reported 7,180 employees.