Holy Cross Health Inc

Analysis

Holy Cross Health Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in December 2013, 13 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, Holy Cross Health Inc reported income of $681.6m and spending of $695.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $605.1m to $681.6m (+13%), an average of +3.0% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Holy Cross Health Inc sits at the 100th 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 MD. Charities of a similar size with the same main cause include Loma Linda University Childrens Hospital ($675.3m), Dalhousie University ($682.1m) and Alta California Regional Center Inc ($674.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $3.6m (0.5% of expenses). Other salaries and wages came to $298.9m. At year end it held assets of $1.08bn against liabilities of $514.8m, net assets of $569.6m. It reported 4,843 employees.