Memorial Hospital Inc

Analysis

Memorial Hospital Inc is a registered charity in United States, based in Manchester, KY. It received its IRS tax-exemption ruling in October 1969, 57 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Memorial Hospital Inc reported income of $90.2m and spending of $87.5m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $53.8m to $90.2m (+68%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Hospital Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within KY. Charities of a similar size with the same main cause include American Board of Internal Medicine ($90.0m), Wheeler Clinic Inc ($90.3m) and Lubbock Heritage Hospital LLC ($90.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $3.4m (3.9% of expenses). Other salaries and wages came to $32.8m. At year end it held assets of $61.7m against liabilities of $46.5m, net assets of $15.2m. It reported 691 employees.