Grace Hospital

Analysis

Grace Hospital is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 1937, 89 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, Grace Hospital reported income of $7.5m and spending of $8.6m, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.3m to $7.5m (-27%), an average of -7.6% a year. The sharpest change came in the year to June 2023, when income dropped by 21%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Grace Hospital sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include The Abim Foundation ($7.5m), Westchester Medical Center Foundation Inc ($7.5m) and Rocky Mountain Lions Eye Bank ($7.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $247k (2.9% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $17.2m against liabilities of $2.2m, net assets of $15.0m. It reported 120 employees.