Forsyth Memorial Hospital Inc

Analysis

Forsyth Memorial Hospital Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in May 1969, 57 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, Forsyth Memorial Hospital Inc reported income of $1.44bn and spending of $1.44bn, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.51bn to $1.44bn (-4.3%), an average of -1.1% a year. The sharpest change came in the year to December 2022, when income dropped by 17%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Forsyth Memorial 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 100th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include St Lukes Hospital ($1.43bn), Upmc ($1.45bn) and The Carle Foundation Hospital ($1.42bn).

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 $2.5m (0.2% of expenses). Other salaries and wages came to $497.5m. At year end it held assets of $2.06bn against liabilities of $160.2m, net assets of $1.90bn. It reported 7,947 employees.