Loring Hospital

Analysis

Loring Hospital is a registered charity in United States, based in Sac City, IA. It received its IRS tax-exemption ruling in August 1948, 78 years ago. 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, Loring Hospital reported income of $111k and spending of $11k, leaving 90% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $235k to $111k (-53%), an average of -17% a year. The sharpest change came in the year to June 2021, when income rose by 521%. Over the whole period it spent 5.8% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Loring Hospital sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within IA. Charities of a similar size with the same main cause include Sun Valley Figure Skating Club Inc ($111k), Terry Wantz Historical Research Center ($111k) and Arc Housing Development Corporation of Lincoln ($111k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% of the total. At year end it held assets of $1.8m against liabilities of $0, net assets of $1.8m.