Presbyterian Hospital

Analysis

Presbyterian Hospital is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in January 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 December 2023, Presbyterian Hospital reported income of $1.96bn and spending of $1.70bn, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.59bn to $1.96bn (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Presbyterian Hospital 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 NC. Charities of a similar size with the same main cause include Lenox Hill Hospital ($1.95bn), Mary Hitchcock Memorial Hospital ($1.98bn) and Keck Medical Center of Usc ($1.94bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.2m (0.1% of expenses). Other salaries and wages came to $474.9m. At year end it held assets of $3.11bn against liabilities of $214.1m, net assets of $2.89bn. It reported 8,414 employees.