The Queens Medical Center

Analysis

The Queens Medical Center is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in December 1935, 91 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, The Queens Medical Center reported income of $1.56bn and spending of $1.42bn, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.23bn to $1.56bn (+27%), an average of +6.1% a year. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Queens Medical Center 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 HI. Charities of a similar size with the same main cause include Hennepin Healthcare System Inc ($1.55bn), Lexington Health Inc ($1.56bn) and Miami Valley Hospital ($1.55bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $1.1m (0.1% of expenses). Other salaries and wages came to $545.8m. At year end it held assets of $3.94bn against liabilities of $2.45bn, net assets of $1.49bn. It reported 6,403 employees.