Boone Memorial Hospital Inc

Analysis

Boone Memorial Hospital Inc is a registered charity in United States, based in Madison, WV. It received its IRS tax-exemption ruling in March 2012, 14 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, Boone Memorial Hospital Inc reported income of $72.2m and spending of $70.3m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $44.1m to $72.2m (+64%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Boone Memorial Hospital Inc sits at the 94th 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 WV. Charities of a similar size with the same main cause include Ballad Health ($72.1m), Mymichigan Medical Center West Branch ($72.3m) and Planned Parenthood Great Northwest Hawaii Alaska Indiana & Ky Inc ($72.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $718k (1.0% of expenses). Other salaries and wages came to $30.5m. It paid $15k in professional fundraising fees. At year end it held assets of $72.1m against liabilities of $50.5m, net assets of $21.5m. It reported 527 employees.