Ashland Hospital Corporation

Analysis

Ashland Hospital Corporation is a registered charity in United States, based in Ashland, KY. It received its IRS tax-exemption ruling in June 1945, 81 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 June 2023, Ashland Hospital Corporation reported income of $762.4m and spending of $566.5m, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to June 2023, income grew from $449.3m to $762.4m (+70%), an average of +14% a year. The sharpest change came in the year to September 2021, when income rose by 49%. Over the whole period it spent 83% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Ashland Hospital Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within KY. Charities of a similar size with the same main cause include South Nassau Communities Hospital ($760.6m), Northbay Healthcare Group ($763.5m) and Howard Hughes Medical Institute ($749.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $5.6m (1.0% of expenses). Other salaries and wages came to $202.5m. At year end it held assets of $1.18bn against liabilities of $407.6m, net assets of $777.0m. It reported 5,236 employees.