Hopedale Medical Foundation

Analysis

Hopedale Medical Foundation is a registered charity in United States, based in Hopedale, IL. It received its IRS tax-exemption ruling in January 1964, 62 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, Hopedale Medical Foundation reported income of $43.4m and spending of $35.1m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $29.4m to $43.4m (+48%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hopedale Medical Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Franklin Primary Health Center Inc ($43.4m), Housing Works Health Services III Inc ($43.4m) and Peoples Community Clinic ($43.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.7% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $2.2m (6.2% of expenses). Other salaries and wages came to $16.7m. At year end it held assets of $67.0m against liabilities of $19.4m, net assets of $47.6m. It reported 470 employees.