Faulkton Area Medical Center

Analysis

Faulkton Area Medical Center is a registered charity in United States, based in Faulkton, SD. It received its IRS tax-exemption ruling in October 1984, 42 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, Faulkton Area Medical Center reported income of $11.4m and spending of $11.8m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.4m to $11.4m (+9.8%), an average of +2.4% a year. The sharpest change came in the year to December 2020, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Faulkton Area Medical Center sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within SD. Charities of a similar size with the same main cause include National Kidney Foundation Inc ($11.4m), Rosebud Community Hospital Inc ($11.4m) and International Myeloma Society ($11.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $647k (5.5% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $13.8m against liabilities of $7.6m, net assets of $6.2m. It reported 96 employees.