Montrose Memorial Hospital

Analysis

Montrose Memorial Hospital is a registered charity in United States, based in Montrose, CO. It received its IRS tax-exemption ruling in March 2013, 13 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, Montrose Memorial Hospital reported income of $174.8m and spending of $161.9m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $129.6m to $174.8m (+35%), an average of +7.8% a year. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Montrose Memorial Hospital sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CO. Charities of a similar size with the same main cause include American Society of Clinical Oncology ($174.3m), Saint Elizabeth Regional Medical Center ($174.8m) and National Board of Medical Examiners ($174.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $418k (0.3% of expenses). Other salaries and wages came to $56.6m. At year end it held assets of $185.5m against liabilities of $55.5m, net assets of $130.1m. It reported 781 employees.