Bedford Memorial Hospital

Analysis

Bedford Memorial Hospital is a registered charity in United States, based in Bedford, VA. It received its IRS tax-exemption ruling in September 1957, 69 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 December 2023, Bedford Memorial Hospital reported income of $53.3m and spending of $44.9m, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $45.3m to $53.3m (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Bedford Memorial Hospital sits at the 93rd percentile: it is larger than about 93% 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 Senior Care Communities Inc ($53.3m), North Mississippi Health Services Inc ($53.4m) and Centerstone of Illinois Inc ($53.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.4m (3.1% of expenses). Other salaries and wages came to $16.5m. At year end it held assets of $36.5m against liabilities of $2.8m, net assets of $33.7m. It reported 418 employees.