Alleghany Memorial Hospital Foundation Inc

Analysis

Alleghany Memorial Hospital Foundation Inc is a registered charity in United States, based in Sparta, NC. It received its IRS tax-exemption ruling in June 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Alleghany Memorial Hospital Foundation Inc reported income of $389k and spending of $569k, spending 146% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $271k to $389k (+44%), an average of +9.5% a year. The sharpest change came in the year to September 2022, when income rose by 139%. Over the whole period it spent 356% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Alleghany Memorial Hospital Foundation Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within NC. Charities of a similar size with the same main cause include Everyone for Veterans ($389k), Trends Charitable Fund ($390k) and Foundation of Fulton-Montgomery Community College Inc ($389k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 56% of the total. Other salaries and wages came to $72k. At year end it held assets of $1.5m against liabilities of $306, net assets of $1.5m.

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.