Hugh Chatham Memorial Hospital Foundation

Analysis

Hugh Chatham Memorial Hospital Foundation is a registered charity in United States, based in Elkin, NC. It received its IRS tax-exemption ruling in October 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, Hugh Chatham Memorial Hospital Foundation reported income of $512k and spending of $295k, leaving 42% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $260k to $512k (+97%), an average of +18% a year. The sharpest change came in the year to September 2020, when income rose by 1115%. Over the whole period it spent 24% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hugh Chatham Memorial Hospital Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Lenoir County United Way ($512k), Thomas D Linkmeyer Group Inc ($512k) and County United Way Inc ($511k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 52% of the total. Other salaries and wages came to $28k. At year end it held assets of $4.8m against liabilities of $0, net assets of $4.8m.