Harbor Hospital Inc

Analysis

Harbor Hospital Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in February 1935, 91 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, Harbor Hospital Inc reported income of $196.1m and spending of $202.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $191.6m to $196.1m (+2.3%), an average of +0.6% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Harbor Hospital Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Saint Francis Healthcare System ($195.7m), Ascension Wisconsin Inc ($196.2m) and Arch Health Partners Inc ($195.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.5% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.7m (0.8% of expenses). Other salaries and wages came to $85.3m. At year end it held assets of $89.9m against liabilities of $37.7m, net assets of $52.2m. It reported 1,328 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.