Memorial Hospital

Analysis

Memorial Hospital is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in September 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 December 2023, Memorial Hospital reported income of $93.9m and spending of $78.8m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $70.4m to $93.9m (+33%), an average of +7.4% a year. Over the whole period it spent 89% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Hospital sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Phelps Medical Services PC ($93.8m), Lifegift Organ Donation Center ($94.1m) and Advocate Aurora Health Inc ($93.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 98% of the total. Other salaries and wages came to $19.8m. At year end it held assets of $59.0m against liabilities of $41.7m, net assets of $17.3m. It reported 414 employees.