Richmond Medical Center

Analysis

Richmond Medical Center is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in July 2007, 19 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 December 2023, Richmond Medical Center reported income of $436.3m and spending of $452.4m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $359.9m to $436.3m (+21%), an average of +4.9% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Richmond Medical Center 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 NY. Charities of a similar size with the same main cause include Dimensions Health Corporation ($436.1m), John T Mather Memorial Hospital ($436.7m) and Mercy Medical Center ($435.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $8.4m (1.9% of expenses). Other salaries and wages came to $216.5m. At year end it held assets of $654.0m against liabilities of $476.3m, net assets of $177.7m. It reported 3,343 employees.