Shannon Medical Center

Analysis

Shannon Medical Center is a registered charity in United States, based in San Angelo, TX. It received its IRS tax-exemption ruling in June 1995, 31 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, Shannon Medical Center reported income of $654.8m and spending of $559.6m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $397.3m to $654.8m (+65%), an average of +13% a year. The sharpest change came in the year to September 2021, when income rose by 33%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Shannon Medical Center sits at the 99th percentile: it is larger than about 99% of them. 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 Freeman Health System ($654.5m), American Cancer Society Inc ($656.8m) and Pikeville Medical Center Inc ($652.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $4.0m (0.7% of expenses). Other salaries and wages came to $179.1m. At year end it held assets of $566.1m against liabilities of $113.7m, net assets of $452.4m. It reported 2,924 employees.