Specialty Hospital of Lorain

Analysis

Specialty Hospital of Lorain is a registered charity in United States, based in Amherst, OH. It received its IRS tax-exemption ruling in October 1999, 27 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, Specialty Hospital of Lorain reported income of $5.3m and spending of $5.8m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.5m to $5.3m (-19%), an average of -5.0% a year. The sharpest change came in the year to December 2023, when income dropped by 23%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Specialty Hospital of Lorain sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Clarence Nursing Home Inc ($5.3m), Forward Together ($5.3m) and McA Tech Park Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $117k (2.0% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $1.9m against liabilities of $1.0m, net assets of $888k. It reported 56 employees.