Loretto Hospital

Analysis

Loretto Hospital is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1992, 34 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Loretto Hospital reported income of $83.7m and spending of $78.3m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $68.7m to $83.7m (+22%), an average of +5.1% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Loretto 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 IL. Charities of a similar size with the same main cause include Trinity Health of the Mid-Atlantic Region ($83.6m), St George Corporation ($83.9m) and Trinity Continuing Care Services ($83.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $1.1m (1.4% of expenses). Other salaries and wages came to $31.8m. At year end it held assets of $35.5m against liabilities of $20.9m, net assets of $14.6m. It reported 696 employees.