Monument Health Rapid City Hospital Inc

Analysis

Monument Health Rapid City Hospital Inc is a registered charity in United States, based in Rapid City, SD. It received its IRS tax-exemption ruling in January 1974, 52 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, Monument Health Rapid City Hospital Inc reported income of $912.6m and spending of $943.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $808.6m to $912.6m (+13%), an average of +3.1% a year. The sharpest change came in the year to June 2021, when income rose by 19%. 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, Monument Health Rapid City Hospital Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within SD. Charities of a similar size with the same main cause include Abington Memorial Hospital ($912.0m), Scripps Health Plan Services Inc ($912.7m) and Saint Joseph Health System Inc ($911.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $8.7m (0.9% of expenses). Other salaries and wages came to $358.3m. At year end it held assets of $1.36bn against liabilities of $530.2m, net assets of $824.9m. It reported 5,062 employees.