Memorial Hospital Association

Analysis

Memorial Hospital Association is a registered charity in United States, based in Carthage, IL. It received its IRS tax-exemption ruling in December 1956, 70 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, Memorial Hospital Association reported income of $50.5m and spending of $48.1m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $30.2m to $50.5m (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Hospital Association sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Little Falls Hospital ($50.4m), Pennsylvania Psychiatric Institute ($50.5m) and Grace Health Inc ($50.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $1.0m (2.2% of expenses). Other salaries and wages came to $21.1m. At year end it held assets of $50.8m against liabilities of $22.4m, net assets of $28.4m. It reported 413 employees.