Hoag Clinic Inc

Analysis

Hoag Clinic Inc is a registered charity in United States, based in Newport Beach, CA. It received its IRS tax-exemption ruling in June 2018, 8 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Hoag Clinic Inc reported income of $325.3m and spending of $428.8m, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $80.4m to $325.3m (+305%), an average of +42% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 140% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hoag Clinic Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Fairfield Medical Center ($324.3m), Baptist Health System Inc ($325.5m) and Rutland Hospital Inc ($324.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.2m (0.5% of expenses). Other salaries and wages came to $98.2m. At year end it held assets of $201.9m against liabilities of $122.9m, net assets of $78.9m.

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.