Carilion Franklin Memorial Hospital

Analysis

Carilion Franklin Memorial Hospital is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in April 1956, 70 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, Carilion Franklin Memorial Hospital reported income of $82.3m and spending of $72.5m, spending 88% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $52.5m to $82.3m (+57%), an average of +12% a year. The sharpest change came in the year to September 2023, when income rose by 17%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Carilion Franklin Memorial Hospital sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include William F Ryan Community Health Center Inc ($82.2m), Bryan Physician Network ($82.4m) and Eastern Maine Healthcare Systems ($82.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $249k (0.3% of expenses). Other salaries and wages came to $21.7m. At year end it held assets of $52.6m against liabilities of $18.6m, net assets of $33.9m. It reported 603 employees.