Hendrick Medical Center

Analysis

Hendrick Medical Center is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in June 1937, 89 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 August 2023, Hendrick Medical Center reported income of $810.1m and spending of $698.9m, spending 86% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $453.5m to $810.1m (+79%), an average of +16% a year. The sharpest change came in the year to August 2021, when income rose by 31%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hendrick Medical Center sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within TX. Charities of a similar size with the same main cause include Gates Medical Research Institute ($809.5m), University Medical Center Management Corporaton ($811.1m) and Lehigh Valley Physician Group ($807.9m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $9.4m (1.4% of expenses). Other salaries and wages came to $253.3m. At year end it held assets of $1.45bn against liabilities of $452.4m, net assets of $999.6m. It reported 4,635 employees.