Southeastern Regional Medical Center

Analysis

Southeastern Regional Medical Center is a registered charity in United States, based in Lumberton, NC. It received its IRS tax-exemption ruling in February 2011, 15 years ago. 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, Southeastern Regional Medical Center reported income of $9.3m and spending of $33.1m, spending 356% of what it took in. Across the 5 years on record, from September 2019 to June 2023, income fell from $27.5m to $9.3m (-66%), an average of -24% a year. The sharpest change came in the year to June 2023, when income dropped by 69%. Over the whole period it spent 167% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southeastern Regional Medical Center sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Independence Health System Inc ($9.3m), Ascension Living Via Christi Village Pittsburg ($9.3m) and The Elizabeth Richardson Center Inc ($9.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $9.2m. At year end it held assets of $8.2m against liabilities of $16.3m, net assets of -$8.1m. It reported 391 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.