Freeport Memorial Hospital

Analysis

Freeport Memorial Hospital is a registered charity in United States, based in Freeport, IL. It received its IRS tax-exemption ruling in April 1939, 87 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, Freeport Memorial Hospital reported income of $175.4m and spending of $154.1m, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $157.7m to $175.4m (+11%), an average of +2.7% a year. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Freeport Memorial Hospital sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IL. Charities of a similar size with the same main cause include Community Health Centers of the Central Coast Inc ($175.0m), St Anthonys Memorial Hospital of the Hospital Sisters of the Third ($175.5m) and Brooks Rehabilitation Hospital ($175.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.1m (1.3% of expenses). Other salaries and wages came to $42.2m. At year end it held assets of $101.7m against liabilities of $31.1m, net assets of $70.6m. It reported 1,355 employees.