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 July 1994, 32 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, Loring Hospital reported income of $18.4m and spending of $16.7m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.7m to $18.4m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Loring Hospital sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IA. Charities of a similar size with the same main cause include Community Health Councils Inc ($18.4m), South Bend Medical Foundation Inc ($18.4m) and Project Vida Health Center ($18.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 97% of the total. Other salaries and wages came to $6.1m. At year end it held assets of $28.1m against liabilities of $6.1m, net assets of $22.0m. It reported 142 employees.