Gaston Memorial Hospital Foundation Inc

Analysis

Gaston Memorial Hospital Foundation Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in November 1936, 90 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gaston Memorial Hospital Foundation Inc reported income of $1.7m and spending of $1.6m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $1.7m (-61%), an average of -21% a year. The sharpest change came in the year to June 2020, when income dropped by 49%. Over the whole period it spent 75% 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 Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Autism Program of Virginia Inc Tap-Va Inc ($1.7m), Hudson Center for Health Equity and Quality Inc ($1.7m) and Center for Mindful Self Compassion Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% of the total. Other salaries and wages came to $241k. At year end it held assets of $27.8m against liabilities of $43k, net assets of $27.8m. It reported 4 employees.