The Moses H Cone Memorial Hospital Operating Corporation

Analysis

The Moses H Cone Memorial Hospital Operating Corporation is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in November 1984, 42 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, The Moses H Cone Memorial Hospital Operating Corporation reported income of $1.93bn and spending of $1.75bn, spending 90% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.40bn to $1.93bn (+37%), an average of +8.3% a year. The sharpest change came in the year to September 2023, when income rose by 17%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Moses H Cone Memorial Hospital Operating Corporation sits at the 100th 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 Cook Childrens Medical Center ($1.92bn), Rady Childrens Hospital San Diego ($1.93bn) and St Elizabeth Medical Center Inc ($1.92bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $11.2m (0.6% of expenses). Other salaries and wages came to $597.5m. At year end it held assets of $1.72bn against liabilities of $257.6m, net assets of $1.46bn. It reported 11,848 employees.