Petersburg Medical Center

Analysis

Petersburg Medical Center is a registered charity in United States, based in Petersburg, AK. It received its IRS tax-exemption ruling in March 1999, 27 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Petersburg Medical Center reported income of $24.5m and spending of $22.3m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.5m to $24.5m (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Petersburg Medical Center sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within AK. Charities of a similar size with the same main cause include Oak Grove Institute Foundation Inc ($24.5m), St Vincent Williamsport Hospital Inc ($24.5m) and Sinai Special Needs Institute ($24.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 82% of the total. Other salaries and wages came to $11.8m. At year end it held assets of $26.3m against liabilities of $23.6m, net assets of $2.8m.