Cheshire Medical Center
Cheshire Medical Center faces recent operating deficits and increasing liabilities despite substantial revenue.
EIN: 20354549 · Keene, NH · NTEE: E220 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $307.9M |
| Total Expenses | $287.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $200 |
| Net Assets | $53.2M |
| Transparency Score | 65/100 |
Is Cheshire Medical Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cheshire Medical Center directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cheshire Medical Center
Cheshire Medical Center (EIN: 20354549) is a nonprofit organization based in Keene, NH, classified under NTEE code E220. The organization reported total revenue of $307.9M and total assets of $161.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cheshire Medical Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cheshire Medical Center is a major nonprofit that has been operating for 45 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $263.6M |
| Total Expenses | $287.8M |
| Surplus / Deficit | $-24,232,690 |
| Total Assets | $146.8M |
| Total Liabilities | $93.6M |
| Net Assets | $53.2M |
| Operating Margin | -9.2% |
| Debt-to-Asset Ratio | 63.8% |
| Months of Reserves | 6.1 months |
Financial Health Grade: C
In 2023, Cheshire Medical Center reported a deficit of $24.2M with expenses exceeding revenue, holds 6.1 months of operating reserves (strong position), has a debt-to-asset ratio of 63.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Cheshire Medical Center's revenue has grown at a compound annual growth rate (CAGR) of 4.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.5% | +6.2% | -3.6% |
| 2022 | +7.1% | +12.6% | -9.5% |
| 2021 | +9.6% | +0.4% | -9.2% |
| 2020 | -1.0% | +9.8% | +44.0% |
| 2019 | +8.3% | +1.0% | +2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cheshire Medical Center with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Cheshire Medical Center allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 63.8%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings is highly unusual for an organization with annual revenues exceeding $200 million and suggests that executive compensation may be reported in other expense categories or through a related organization, requiring deeper scrutiny for a complete financial picture.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Cheshire Medical Center's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and warrants further investigation.
- Significant increase in liabilities from $56 million in 2019 to $93 million in 2023.
- Operating deficit of over $24 million in the latest 202306 filing (Expenses $287M vs. Revenue $263M).
Strengths
The following positive indicators were identified for Cheshire Medical Center:
- Substantial and growing revenue base, reaching over $307 million in the latest period.
- Long history of IRS 990 filings (13 filings), indicating consistent reporting.
- Maintains significant assets, though they have fluctuated, with $161 million in the latest period.
Frequently Asked Questions about Cheshire Medical Center
Is Cheshire Medical Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Cheshire Medical Center (EIN: 20354549) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Cheshire Medical Center spend its money?
Cheshire Medical Center directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cheshire Medical Center tax-deductible?
Cheshire Medical Center is registered as a tax-exempt nonprofit (EIN: 20354549). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Cheshire Medical Center CEO make?
Cheshire Medical Center's highest-compensated officer earns $200 annually. The organization reported $307.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Cheshire Medical Center's spending goes to programs?
Cheshire Medical Center directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Cheshire Medical Center compare to similar nonprofits?
With a transparency score of 65/100 (Good), Cheshire Medical Center is above average for NTEE category E220 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Cheshire Medical Center located?
Cheshire Medical Center is headquartered in Keene, New Hampshire and files with the IRS under EIN 20354549. It is classified under NTEE code E220.
How many years of IRS 990 filings does Cheshire Medical Center have?
Cheshire Medical Center has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $307.9M in total revenue.
Why is officer compensation consistently reported as 0% on the IRS 990 filings?
The consistent 0% officer compensation reported across all filings for Cheshire Medical Center is highly unusual for an organization of its size and revenue. This could indicate that executive compensation is paid by a related entity, reported under different expense categories, or that the organization's structure allows for this reporting, which warrants further investigation to understand the full scope of executive remuneration.
What caused the significant increase in liabilities from $56 million in 2019 to $93 million in 2023?
The substantial increase in liabilities from $56,569,972 in 2019 to $93,638,347 in 2023 suggests potential new debt, capital expenditures, or changes in operational financing. Further analysis of the organization's balance sheet and footnotes would be necessary to pinpoint the exact causes.
How does the organization plan to address the operating deficit of over $24 million reported in the 202306 filing?
The 202306 filing shows expenses ($287,817,174) exceeding revenue ($263,584,484) by over $24 million. This operating deficit is a concern, and the organization would need to outline strategies for cost control, revenue enhancement, or utilization of reserves to ensure long-term financial stability.
Filing History
IRS 990 filing history for Cheshire Medical Center showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cheshire Medical Center's revenue has grown by 71.5%, moving from $153.7M to $263.6M. Total assets increased by 14.9% over the same period, from $127.8M to $146.8M. Total functional expenses rose by 87.1%, from $153.8M to $287.8M. In its most recent filing year (2023), Cheshire Medical Center reported a deficit of $24.2M, with expenses exceeding revenue. The organization holds $93.6M in liabilities against $146.8M in assets (debt-to-asset ratio: 63.8%), resulting in net assets of $53.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $263.6M | $287.8M | $146.8M | $93.6M | — | — |
| 2022 | $264.9M | $271.1M | $152.3M | $79.9M | — | View 990 |
| 2021 | $247.4M | $240.8M | $168.3M | $87.9M | — | — |
| 2020 | $225.7M | $239.7M | $185.5M | $127.0M | — | View 990 |
| 2019 | $228.0M | $218.2M | $128.8M | $56.6M | — | View 990 |
| 2018 | $210.4M | $216.1M | $125.3M | $56.8M | — | View 990 |
| 2017 | $205.0M | $207.1M | $126.7M | $63.5M | — | View 990 |
| 2016 | $165.6M | $170.6M | $134.9M | $74.7M | — | View 990 |
| 2015 | $163.8M | $164.4M | $144.6M | $66.1M | — | View 990 |
| 2014 | $159.8M | $158.6M | $137.6M | $65.0M | — | View 990 |
| 2013 | $159.0M | $156.2M | $136.6M | $68.4M | — | View 990 |
| 2012 | $120.3M | $120.4M | $130.3M | $79.5M | — | View 990 |
| 2011 | $153.7M | $153.8M | $127.8M | $80.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $263.6M, expenses of $287.8M, and assets of $146.8M (revenue -0.5% year-over-year).
- 2022: Revenue of $264.9M, expenses of $271.1M, and assets of $152.3M (revenue +7.1% year-over-year).
- 2021: Revenue of $247.4M, expenses of $240.8M, and assets of $168.3M (revenue +9.6% year-over-year).
- 2020: Revenue of $225.7M, expenses of $239.7M, and assets of $185.5M (revenue -1.0% year-over-year).
- 2019: Revenue of $228.0M, expenses of $218.2M, and assets of $128.8M (revenue +8.3% year-over-year).
- 2018: Revenue of $210.4M, expenses of $216.1M, and assets of $125.3M (revenue +2.6% year-over-year).
- 2017: Revenue of $205.0M, expenses of $207.1M, and assets of $126.7M (revenue +23.8% year-over-year).
- 2016: Revenue of $165.6M, expenses of $170.6M, and assets of $134.9M (revenue +1.1% year-over-year).
- 2015: Revenue of $163.8M, expenses of $164.4M, and assets of $144.6M (revenue +2.5% year-over-year).
- 2014: Revenue of $159.8M, expenses of $158.6M, and assets of $137.6M (revenue +0.5% year-over-year).
- 2013: Revenue of $159.0M, expenses of $156.2M, and assets of $136.6M (revenue +32.2% year-over-year).
- 2012: Revenue of $120.3M, expenses of $120.4M, and assets of $130.3M (revenue -21.8% year-over-year).
- 2011: Revenue of $153.7M, expenses of $153.8M, and assets of $127.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cheshire Medical Center:
Data Sources and Methodology
This transparency report for Cheshire Medical Center is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.