McLeod Loris Seacoast Hospital

Analysis

McLeod Loris Seacoast Hospital is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in August 2013, 13 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 September 2023, McLeod Loris Seacoast Hospital reported income of $353.2m and spending of $311.0m, spending 88% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $162.6m to $353.2m (+117%), an average of +21% a year. The sharpest change came in the year to September 2021, when income rose by 39%. 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, McLeod Loris Seacoast 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 SC. Charities of a similar size with the same main cause include The University of Vermont Health Network Medical Group Inc ($352.7m), Medical Associates of Englewood PC ($353.3m) and Tarzana Medical Center LLC ($352.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.3m (0.4% of expenses). Other salaries and wages came to $88.0m. At year end it held assets of $357.1m against liabilities of $98.9m, net assets of $258.2m. It reported 1,686 employees.