Charles a Cannon Jr Memorial Hospital Inc

Analysis

Charles a Cannon Jr Memorial Hospital Inc is a registered charity in United States, based in Linville, NC. It received its IRS tax-exemption ruling in January 1958, 68 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, Charles a Cannon Jr Memorial Hospital Inc reported income of $18.3m and spending of $19.7m, spending 108% of what it took in. Across the 5 years on record, from September 2019 to June 2023, income fell from $24.9m to $18.3m (-27%), an average of -7.4% a year. The sharpest change came in the year to June 2023, when income dropped by 23%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Charles a Cannon Jr Memorial Hospital Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include The Visiting Nurse Association of Greater Philadelphia ($18.3m), Union Health Center Inc ($18.3m) and Bridging Access to Care Inc ($18.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 87% of the total. Other salaries and wages came to $7.9m. At year end it held assets of $30.7m against liabilities of $28.2m, net assets of $2.5m.