Swedishamerican Hospital

Analysis

Swedishamerican Hospital is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in June 1936, 90 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 June 2023, Swedishamerican Hospital reported income of $806.1m and spending of $786.9m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $628.8m to $806.1m (+28%), an average of +6.4% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Swedishamerican Hospital sits at the 99th percentile: it is one of the largest 1% in its cause. 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 Baptist Health Care Inc ($805.1m), Lehigh Valley Physician Group ($807.9m) and Saint Alphonsus Regional Medical Center Inc ($804.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.5% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $6.1m (0.8% of expenses). Other salaries and wages came to $300.8m. At year end it held assets of $1.07bn against liabilities of $468.4m, net assets of $597.6m. It reported 4,685 employees.