Covenant Hospital Hobbs

Analysis

Covenant Hospital Hobbs is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in January 2021, 5 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, Covenant Hospital Hobbs reported income of $39.8m and spending of $59.8m, spending 150% of what it took in. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 116% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Covenant Hospital Hobbs sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include St Clare Memorial Hospital Inc ($39.8m), LA Paz Regional Hospital ($39.8m) and Great Lakes Physician Practice PC ($39.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $74k (0.1% of expenses). Other salaries and wages came to $10.6m. At year end it held assets of $126.7m against liabilities of $124.4m, net assets of $2.3m. It reported 190 employees.