Drumright Memorial Hospital Foundation

Analysis

Drumright Memorial Hospital Foundation is a registered charity in United States, based in Drumright, OK. It received its IRS tax-exemption ruling in February 1964, 62 years ago. 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 December 2023, Drumright Memorial Hospital Foundation reported income of $885k and spending of $964k, spending 109% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $437k to $885k (+103%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Drumright Memorial Hospital Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within OK. Charities of a similar size with the same main cause include Western Avenue Community Center ($885k), National Society to Prevent Blindness ($885k) and St Edmunds Tower Inc ($885k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% of the total. At year end it held assets of $9.8m against liabilities of $7.2m, net assets of $2.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.