Chicot Memorial Medical Center

Analysis

Chicot Memorial Medical Center is a registered charity in United States, based in Lake Village, AR. It received its IRS tax-exemption ruling in March 2010, 16 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 March 2023, Chicot Memorial Medical Center reported income of $21.7m and spending of $20.2m, spending 93% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $17.6m to $21.7m (+24%), an average of +5.4% a year. The sharpest change came in the year to March 2021, when income rose by 33%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Chicot Memorial Medical Center sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within AR. Charities of a similar size with the same main cause include The West Oakland Health Council ($21.7m), Mental Health Association of Essex and Morris Inc ($21.7m) and Empowering Abilities ($21.7m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 6.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $673k (3.3% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $19.4m against liabilities of $4.7m, net assets of $14.7m. It reported 197 employees.