Honorhealth

Analysis

Honorhealth is a registered charity in United States, based in Scottsdale, AZ. It received its IRS tax-exemption ruling in August 1965, 61 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, Honorhealth reported income of $2.94bn and spending of $2.77bn, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.15bn to $2.94bn (+36%), an average of +8.1% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Honorhealth sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within AZ. Charities of a similar size with the same main cause include Corewell Health ($2.93bn), North Carolina Baptist Hospital ($2.97bn) and The Methodist Hospital ($2.90bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $14.9m (0.5% of expenses). Other salaries and wages came to $1.03bn. At year end it held assets of $3.83bn against liabilities of $1.65bn, net assets of $2.18bn. It reported 17,700 employees.