St Lukes Methodist Hospital

Analysis

St Lukes Methodist Hospital is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in July 1946, 80 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, St Lukes Methodist Hospital reported income of $477.1m and spending of $471.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $415.9m to $477.1m (+15%), an average of +3.5% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, St Lukes Methodist Hospital sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IA. Charities of a similar size with the same main cause include The Brooklyn Hospital Center ($476.8m), Midstate Medical Center ($478.5m) and Johns Hopkins Medical Services Corporation ($476.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $3.0m (0.6% of expenses). Other salaries and wages came to $180.5m. At year end it held assets of $583.8m against liabilities of $176.2m, net assets of $407.5m. It reported 2,728 employees.