Cloquet Community Memorial Hospital Foundation

Analysis

Cloquet Community Memorial Hospital Foundation is a registered charity in United States, based in Cloquet, MN. It received its IRS tax-exemption ruling in September 1988, 38 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Cloquet Community Memorial Hospital Foundation reported income of $277k and spending of $160k, leaving 42% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $181k to $277k (+53%), an average of +11% a year. The sharpest change came in the year to August 2021, when income rose by 48%. Over the whole period it spent 54% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cloquet Community Memorial Hospital Foundation sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within MN. Charities of a similar size with the same main cause include Pembine Dunbar Beecher Rescue Squad ($277k), North Carolina Society Ofgastroenterology ($277k) and Ivna Health Services ($277k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 65% of the total. At year end it held assets of $1.3m against liabilities of $856, net assets of $1.3m.