Southern Monterey County Memorial Hospital

Analysis

Southern Monterey County Memorial Hospital is a registered charity in United States, based in King City, CA. It received its IRS tax-exemption ruling in July 1964, 62 years ago. 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 September 2023, Southern Monterey County Memorial Hospital reported income of $71.5m and spending of $68.3m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $77.1m to $71.5m (-7.3%), an average of -1.9% a year. The sharpest change came in the year to September 2021, when income rose by 74%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southern Monterey County Memorial Hospital sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Pressley Ridge ($71.3m), Cardinal McCloskey School & Home for Children Inc ($71.5m) and Jevs Human Services ($71.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 3.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $3.3m (4.8% of expenses). Other salaries and wages came to $20.0m. At year end it held assets of $60.4m against liabilities of $12.8m, net assets of $47.6m. It reported 421 employees.