Holyoke Medical Center Inc
Holyoke Medical Center: Stable Finances, High Program Spending
EIN: 222520073 · Holyoke, MA · NTEE: E220 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $266.3M |
| Total Expenses | $248.6M |
| Program Spending | 89% |
| Net Assets | $40.8M |
| Transparency Score | 85/100 |
Is Holyoke Medical Center Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Holyoke Medical Center Inc directs 89% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Holyoke Medical Center Inc
Holyoke Medical Center Inc (EIN: 222520073) is a nonprofit organization based in Holyoke, MA, classified under NTEE code E220. The organization reported total revenue of $266.3M and total assets of $129.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Holyoke Medical Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Holyoke Medical Center Inc is a major nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $245.5M |
| Total Expenses | $248.6M |
| Surplus / Deficit | $-3,069,600 |
| Total Assets | $123.5M |
| Total Liabilities | $82.8M |
| Net Assets | $40.8M |
| Operating Margin | -1.3% |
| Debt-to-Asset Ratio | 67.0% |
| Months of Reserves | 6.0 months |
Financial Health Grade: C
In 2023, Holyoke Medical Center Inc reported a deficit of $3.1M with expenses exceeding revenue, holds 6.0 months of operating reserves (strong position), has a debt-to-asset ratio of 67.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Holyoke Medical Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.5% | +13.4% | +8.6% |
| 2022 | +9.5% | +12.1% | +0.3% |
| 2021 | +1.5% | +8.8% | +4.5% |
| 2020 | +8.3% | +1.1% | +19.7% |
| 2019 | +7.0% | +7.6% | +4.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Holyoke Medical Center Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 6%
- programs: 89%
- fundraising: 5%
According to IRS 990 filings, Holyoke Medical Center Inc allocates its expenses as follows: admin: 6%, programs: 89%, fundraising: 5%. With 89% 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 $3.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 67.0%.
Executive Compensation Analysis
Executive compensation appears reasonable given the organization's size and revenue, with no red flags identified in the provided data.
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.
Strengths
The following positive indicators were identified for Holyoke Medical Center Inc:
- Consistent growth in revenue and assets over the past several years, indicating financial stability.
- High percentage of spending directly on programs (89%), demonstrating a strong commitment to its mission.
- Healthy asset base of $129,344,658 as of 2023, providing a strong foundation for future operations.
- Low administrative and fundraising overhead, maximizing impact per dollar.
- Positive net income trend, with revenue consistently exceeding expenses.
Frequently Asked Questions about Holyoke Medical Center Inc
Is Holyoke Medical Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Holyoke Medical Center Inc (EIN: 222520073) appears legitimate. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
How does Holyoke Medical Center Inc spend its money?
Holyoke Medical Center Inc directs 89% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Holyoke Medical Center Inc tax-deductible?
Holyoke Medical Center Inc is registered as a tax-exempt nonprofit (EIN: 222520073). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Holyoke Medical Center Inc's spending goes to programs?
Holyoke Medical Center Inc directs 89% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Holyoke Medical Center Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Holyoke Medical Center Inc 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 Holyoke Medical Center Inc located?
Holyoke Medical Center Inc is headquartered in Holyoke, Massachusetts and files with the IRS under EIN 222520073. It is classified under NTEE code E220.
How many years of IRS 990 filings does Holyoke Medical Center Inc have?
Holyoke Medical Center Inc 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 $266.3M in total revenue.
What does Holyoke Medical Center Inc do?
Holyoke Medical Center Inc is a nonprofit organization in the Health Care sector, located in Holyoke, Massachusetts. It is classified under NTEE code E220.
How much revenue does Holyoke Medical Center Inc have?
Holyoke Medical Center Inc reported total revenue of $266,280,916. Based on 13 IRS 990 filings on record.
What are Holyoke Medical Center Inc's total assets?
Holyoke Medical Center Inc holds total assets of $129,344,658 as reported in IRS 990 filings.
Where is Holyoke Medical Center Inc located?
Holyoke Medical Center Inc is based in Holyoke, Massachusetts.
What is Holyoke Medical Center Inc's EIN?
Holyoke Medical Center Inc's Employer Identification Number (EIN) is 222520073. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Holyoke Medical Center Inc?
Holyoke Medical Center Inc is classified under NTEE code E220 (Health Care).
Is Holyoke Medical Center Inc a registered 501(c)(3)?
Yes, Holyoke Medical Center Inc is recognized as a tax-exempt organization by the IRS. EIN: 222520073.
Does Holyoke Medical Center Inc file IRS Form 990?
Yes, Holyoke Medical Center Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Holyoke Medical Center Inc's revenue in 2023?
In the 202309 filing period, Holyoke Medical Center Inc reported total revenue of $245,542,484, total expenses of $248,612,084, and net assets of $123,522,026.
Is Holyoke Medical Center Inc's revenue growing or declining?
Holyoke Medical Center Inc's revenue is growing. Revenue went from $220,302,598 (202209) to $245,542,484 (202309), a +11.5% change. Based on 13 filings on record.
What is Holyoke Medical Center Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Holyoke Medical Center Inc covers tax period 202309. It shows revenue of $245,542,484, expenses of $248,612,084, total assets of $123,522,026, and liabilities of $82,757,901.
How much does Holyoke Medical Center Inc spend on programs vs administration?
Based on IRS 990 analysis, Holyoke Medical Center Inc allocates approximately 89% of expenses to program services, 6% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Holyoke Medical Center Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Holyoke Medical Center Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 5 strengths noted.
What are Holyoke Medical Center Inc's strengths?
Positive indicators for Holyoke Medical Center Inc include: Consistent growth in revenue and assets over the past several years, indicating financial stability.. High percentage of spending directly on programs (89%), demonstrating a strong commitment to its mission.. Healthy asset base of $129,344,658 as of 2023, providing a strong foundation for future operations.. Low administrative and fundraising overhead, maximizing impact per dollar.. Positive net income trend, with revenue consistently exceeding expenses.. These findings are derived from AI analysis of the organization's financial filings.
How does Holyoke Medical Center Inc compensate executives?
Executive compensation appears reasonable given the organization's size and revenue, with no red flags identified in the provided data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Holyoke Medical Center Inc?
• Holyoke Medical Center consistently reports 0% compensation from unrelated organizations, indicating a clear focus on its primary mission. • The organization's financial filings are readily available, showing consistent reporting over several years. • Detailed breakdowns of expenses are provided, allowing for a clear understanding of spending categories. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How has Holyoke Medical Center managed to maintain such a high program spending percentage while experiencing consistent revenue growth?
Holyoke Medical Center has consistently kept its administrative and fundraising expenses low, allowing a larger portion of its growing revenue to be directed towards programs. For example, in 2023, with revenues of $266,280,916 and expenses of $248,612,084, the vast majority of expenses were program-related, indicating efficient operational management.
What factors contribute to the significant increase in assets from $90,627,521 in 2019 to $129,344,658 in 2023?
The increase in assets is likely driven by a combination of consistent positive operating margins (revenue exceeding expenses) and potentially strategic investments or capital improvements. The data shows a steady increase in revenue and a controlled growth in expenses, contributing to the accumulation of assets over this period.
Filing History
IRS 990 filing history for Holyoke Medical Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Holyoke Medical Center Inc's revenue has grown by 100.9%, moving from $122.2M to $245.5M. Total assets increased by 106.8% over the same period, from $59.7M to $123.5M. Total functional expenses rose by 109.7%, from $118.5M to $248.6M. In its most recent filing year (2023), Holyoke Medical Center Inc reported a deficit of $3.1M, with expenses exceeding revenue. The organization holds $82.8M in liabilities against $123.5M in assets (debt-to-asset ratio: 67.0%), resulting in net assets of $40.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $245.5M | $248.6M | $123.5M | $82.8M | — | View 990 |
| 2022 | $220.3M | $219.2M | $113.7M | $80.0M | — | — |
| 2021 | $201.2M | $195.6M | $113.3M | $102.8M | — | View 990 |
| 2020 | $198.2M | $179.7M | $108.4M | $119.3M | — | View 990 |
| 2019 | $183.0M | $177.7M | $90.6M | $107.0M | — | View 990 |
| 2018 | $170.9M | $165.2M | $86.9M | $87.8M | — | View 990 |
| 2017 | $158.3M | $154.1M | $86.8M | $97.5M | — | View 990 |
| 2016 | $147.0M | $141.5M | $82.9M | $98.8M | — | View 990 |
| 2015 | $130.2M | $126.1M | $67.9M | $81.7M | — | View 990 |
| 2014 | $128.5M | $122.1M | $65.0M | $61.0M | — | View 990 |
| 2013 | $120.8M | $116.3M | $65.1M | $56.5M | — | View 990 |
| 2012 | $129.1M | $121.2M | $64.6M | $68.5M | — | View 990 |
| 2011 | $122.2M | $118.5M | $59.7M | $68.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $245.5M, expenses of $248.6M, and assets of $123.5M (revenue +11.5% year-over-year).
- 2022: Revenue of $220.3M, expenses of $219.2M, and assets of $113.7M (revenue +9.5% year-over-year).
- 2021: Revenue of $201.2M, expenses of $195.6M, and assets of $113.3M (revenue +1.5% year-over-year).
- 2020: Revenue of $198.2M, expenses of $179.7M, and assets of $108.4M (revenue +8.3% year-over-year).
- 2019: Revenue of $183.0M, expenses of $177.7M, and assets of $90.6M (revenue +7.0% year-over-year).
- 2018: Revenue of $170.9M, expenses of $165.2M, and assets of $86.9M (revenue +8.0% year-over-year).
- 2017: Revenue of $158.3M, expenses of $154.1M, and assets of $86.8M (revenue +7.7% year-over-year).
- 2016: Revenue of $147.0M, expenses of $141.5M, and assets of $82.9M (revenue +12.9% year-over-year).
- 2015: Revenue of $130.2M, expenses of $126.1M, and assets of $67.9M (revenue +1.3% year-over-year).
- 2014: Revenue of $128.5M, expenses of $122.1M, and assets of $65.0M (revenue +6.4% year-over-year).
- 2013: Revenue of $120.8M, expenses of $116.3M, and assets of $65.1M (revenue -6.4% year-over-year).
- 2012: Revenue of $129.1M, expenses of $121.2M, and assets of $64.6M (revenue +5.6% year-over-year).
- 2011: Revenue of $122.2M, expenses of $118.5M, and assets of $59.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Holyoke Medical Center Inc:
Data Sources and Methodology
This transparency report for Holyoke Medical Center Inc 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.