Lifecare Hospice

Analysis

Lifecare Hospice is a registered charity in United States, based in Wooster, OH. It received its IRS tax-exemption ruling in March 1982, 44 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lifecare Hospice reported income of $18.7m and spending of $19.3m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.0m to $18.7m (+56%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lifecare Hospice sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Kentucky Educational Development Corporation ($18.7m), York County Board of Disabilities and Special Needs ($18.7m) and Housing Matters ($18.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $191k (1.0% of expenses). Other salaries and wages came to $8.9m. At year end it held assets of $14.8m against liabilities of $15.3m, net assets of -$453k. It reported 173 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.