Hilo Medical Center Foundation

Analysis

Hilo Medical Center Foundation is a registered charity in United States, based in Hilo, HI. It received its IRS tax-exemption ruling in January 1996, 30 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hilo Medical Center Foundation reported income of $1.9m and spending of $641k, leaving 65% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $411k to $1.9m (+352%), an average of +46% a year. The sharpest change came in the year to June 2023, when income rose by 233%. Over the whole period it spent 59% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hilo Medical Center Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within HI. Charities of a similar size with the same main cause include United Way of Ulster County Inc ($1.9m), Ruth M Harkins McKeown Trust Under Will F/B/O Salem Community Foundat ($1.9m) and Three Valleys Community Foundation ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $200k. At year end it held assets of $2.7m against liabilities of $100k, net assets of $2.6m. It reported 7 employees.