Hospice of Lake Cumberland Inc

Analysis

Hospice of Lake Cumberland Inc is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in February 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hospice of Lake Cumberland Inc reported income of $10.8m and spending of $10.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.6m to $10.8m (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hospice of Lake Cumberland Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within KY. Charities of a similar size with the same main cause include Safe Place for Youth Inc ($10.8m), Child and Family Charities ($10.8m) and Catholic Charities of Southern Missouri ($10.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $382k (3.7% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $10.5m against liabilities of $2.0m, net assets of $8.5m. It reported 98 employees.