Gaston Memorial Hospital Inc

Analysis

Gaston Memorial Hospital Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in February 1949, 77 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, Gaston Memorial Hospital Inc reported income of $709.9m and spending of $650.8m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $547.0m to $709.9m (+30%), an average of +6.7% a year. Over the whole period it spent 90% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Gaston Memorial Hospital Inc sits at the 99th percentile: it is larger than about 99% of them. 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 Johns Hopkins All Childrens Hospital Inc ($702.2m), Corewell Health ($719.9m) and SMDC Medical Center ($701.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $4.9m (0.8% of expenses). Other salaries and wages came to $232.8m. At year end it held assets of $838.4m against liabilities of $444.0m, net assets of $394.5m. It reported 4,078 employees.