Penn State Health Lancaster Medical Center

Analysis

Penn State Health Lancaster Medical Center is a registered charity in United States, based in Hershey, PA. 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 June 2023, Penn State Health Lancaster Medical Center reported income of $69.3m and spending of $141.7m, spending 204% of what it took in. The sharpest change came in the year to June 2023, when income rose by 76762%. Over the whole period it spent 217% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Penn State Health Lancaster Medical Center sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include Mackinac Straits Health System Inc ($69.3m), Valley Health Systems Inc ($69.3m) and Cox-Monett Hospital Inc ($69.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.3m (0.9% of expenses). Other salaries and wages came to $44.3m. At year end it held assets of $383.7m against liabilities of $455.3m, net assets of -$71.6m. It reported 624 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.