Preston Memorial Hospital Corporation

Analysis

Preston Memorial Hospital Corporation is a registered charity in United States, based in Kingwood, WV. It received its IRS tax-exemption ruling in June 1984, 42 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, Preston Memorial Hospital Corporation reported income of $53.0m and spending of $52.9m, spending 100% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $46.8m to $53.0m (+13%), an average of +2.5% a year. The sharpest change came in the year to December 2023, when income rose by 91%. 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, Preston Memorial Hospital Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within WV. Charities of a similar size with the same main cause include Independent Healthcare Management Inc ($52.9m), Ararat Home of Los Angeles Inc ($53.0m) and St Lukes Community Hospital ($52.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 96% of the total. Other salaries and wages came to $21.6m. At year end it held assets of $46.4m against liabilities of $40.3m, net assets of $6.1m. It reported 446 employees.