Hugh Chatham Memorial Hospital Inc

Analysis

Hugh Chatham Memorial Hospital Inc is a registered charity in United States, based in Elkin, NC. It received its IRS tax-exemption ruling in June 1932, 94 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 September 2023, Hugh Chatham Memorial Hospital Inc reported income of $158.3m and spending of $159.6m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $129.6m to $158.3m (+22%), an average of +5.1% a year. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hugh Chatham Memorial Hospital Inc sits at the 96th percentile: it is larger than about 96% 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 Urban Health Plan Inc ($158.2m), Healtheast Medical Research Institute ($158.4m) and Trihealth Physician Institute ($158.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $2.0m (1.2% of expenses). Other salaries and wages came to $60.7m. At year end it held assets of $245.8m against liabilities of $71.4m, net assets of $174.3m. It reported 1,201 employees.