Chatham Hospital Inc

Analysis

Chatham Hospital Inc is a registered charity in United States, based in Siler City, NC. It received its IRS tax-exemption ruling in October 1939, 87 years ago. 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, Chatham Hospital Inc reported income of $52.0m and spending of $58.2m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $40.1m to $52.0m (+30%), an average of +6.7% a year. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chatham Hospital Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Royal Charter Properties Inc ($52.0m), Collier Community Foundation Inc ($52.2m) and Hope Haven Incorporated ($51.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $158k (0.3% of expenses). Other salaries and wages came to $12.9m. At year end it held assets of $41.1m against liabilities of $49.8m, net assets of -$8.8m. It reported 305 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.