Homestead Hospital Inc

Analysis

Homestead Hospital Inc is a registered charity in United States, based in Homestead, FL. It received its IRS tax-exemption ruling in May 1991, 35 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, Homestead Hospital Inc reported income of $458.5m and spending of $500.9m, spending 109% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $398.7m to $458.5m (+15%), an average of +3.6% a year. 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, Homestead Hospital Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within FL. Charities of a similar size with the same main cause include Shaare Zedek Medical Center ($458.0m), Common Ground Healthcare Cooperative ($459.4m) and Boulder Community Health ($458.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.2m (0.2% of expenses). Other salaries and wages came to $108.6m. At year end it held assets of $101.0m against liabilities of $673.3m, net assets of -$572.3m. It reported 1,609 employees.