Owensboro Health Twin Lakes Regional Medical Center Inc

Analysis

Owensboro Health Twin Lakes Regional Medical Center Inc is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in July 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 May 2024, Owensboro Health Twin Lakes Regional Medical Center Inc reported income of $73.3m and spending of $58.6m, spending 80% of its income. Across the 4 years on record, from May 2021 to May 2024, income grew from $21.4m to $73.3m (+243%), an average of +51% a year. The sharpest change came in the year to May 2022, when income rose by 163%. Over the whole period it spent 83% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Owensboro Health Twin Lakes Regional Medical Center Inc 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 KY. Charities of a similar size with the same main cause include Bisbee Hospital Association ($73.2m), Baylor Research Institute ($73.3m) and Truth Initiative Foundation ($73.1m).

On its Form 990 for the period ending May 2024, 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 $973k (1.7% of expenses). Other salaries and wages came to $18.1m. At year end it held assets of $140.5m against liabilities of $104.9m, net assets of $35.6m. It reported 476 employees.