Charleston Area Medical Center Inc

Analysis

Charleston Area Medical Center Inc is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in March 1972, 54 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, Charleston Area Medical Center Inc reported income of $1.68bn and spending of $1.64bn, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.27bn to $1.68bn (+32%), an average of +7.2% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Charleston Area Medical Center 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 WV. Charities of a similar size with the same main cause include Memorial Sloan-Kettering Cancer Center ($1.67bn), New York Society for the Relief of Ruptured & Crippled Maintaining ($1.68bn) and Loyola University Medical Center ($1.64bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $16.1m (1.0% of expenses). Other salaries and wages came to $603.1m. At year end it held assets of $1.69bn against liabilities of $1.08bn, net assets of $609.6m. It reported 10,716 employees.