Hugh Chatham Memorial Hospital Foundation
EIN: 562049537 · Elkin, NC · NTEE: T11
Is Hugh Chatham Memorial Hospital Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hugh Chatham Memorial Hospital Foundation
Hugh Chatham Memorial Hospital Foundation (EIN: 562049537) is a nonprofit organization based in Elkin, NC, classified under NTEE code T11. The organization reported total revenue of $2.3M and total assets of $7.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hugh Chatham Memorial Hospital Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hugh Chatham Memorial Hospital Foundation is a mid-size nonprofit that has been operating for 29 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 | $512K |
| Total Expenses | $295K |
| Surplus / Deficit | +$217K |
| Total Assets | $4.8M |
| Net Assets | $4.8M |
| Operating Margin | 42.4% |
| Months of Reserves | 193.5 months |
Financial Health Grade: A
In 2023, Hugh Chatham Memorial Hospital Foundation reported a surplus of $217K with revenue exceeding expenses, holds 193.5 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Hugh Chatham Memorial Hospital Foundation's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +55.1% | +37.7% | +15.7% |
| 2022 | -17.2% | +65.3% | -11.7% |
| 2021 | -87.4% | -56.1% | +19.3% |
| 2020 | +1115.5% | +59.6% | +73.2% |
| 2019 | -38.8% | +4.1% | +4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hugh Chatham Memorial Hospital Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hugh Chatham Memorial Hospital Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $217K, with revenue exceeding expenses.
Frequently Asked Questions about Hugh Chatham Memorial Hospital Foundation
Is Hugh Chatham Memorial Hospital Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hugh Chatham Memorial Hospital Foundation (EIN: 562049537) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hugh Chatham Memorial Hospital Foundation spend its money?
Detailed spending breakdown data is not yet available for Hugh Chatham Memorial Hospital Foundation. Check back for updated IRS 990 analysis.
Are donations to Hugh Chatham Memorial Hospital Foundation tax-deductible?
Hugh Chatham Memorial Hospital Foundation is registered as a tax-exempt nonprofit (EIN: 562049537). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Hugh Chatham Memorial Hospital Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hugh Chatham Memorial Hospital Foundation's revenue has grown by 101.4%, moving from $254K to $512K. Total assets increased by 22.1% over the same period, from $3.9M to $4.8M. Total functional expenses rose by 23.5%, from $239K to $295K. In its most recent filing year (2023), Hugh Chatham Memorial Hospital Foundation reported a surplus of $217K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $512K | $295K | $4.8M | $0 | — | — |
| 2022 | $330K | $214K | $4.1M | $0 | — | — |
| 2021 | $398K | $130K | $4.7M | $0 | — | View 990 |
| 2020 | $3.2M | $295K | $3.9M | $0 | — | — |
| 2019 | $260K | $185K | $2.3M | $0 | — | View 990 |
| 2018 | $425K | $177K | $2.2M | $0 | — | View 990 |
| 2017 | $288K | $212K | $1.8M | $0 | — | View 990 |
| 2016 | $342K | $94K | $1.7M | $0 | — | View 990 |
| 2015 | $1.0M | $2.6M | $1.4M | $0 | — | View 990 |
| 2014 | $608K | $185K | $3.3M | $0 | — | View 990 |
| 2013 | $655K | $2.6M | $2.8M | $0 | — | View 990 |
| 2012 | $530K | $310K | $4.5M | $0 | — | View 990 |
| 2011 | $254K | $239K | $3.9M | $45K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $512K, expenses of $295K, and assets of $4.8M (revenue +55.1% year-over-year).
- 2022: Revenue of $330K, expenses of $214K, and assets of $4.1M (revenue -17.2% year-over-year).
- 2021: Revenue of $398K, expenses of $130K, and assets of $4.7M (revenue -87.4% year-over-year).
- 2020: Revenue of $3.2M, expenses of $295K, and assets of $3.9M (revenue +1115.5% year-over-year).
- 2019: Revenue of $260K, expenses of $185K, and assets of $2.3M (revenue -38.8% year-over-year).
- 2018: Revenue of $425K, expenses of $177K, and assets of $2.2M (revenue +47.5% year-over-year).
- 2017: Revenue of $288K, expenses of $212K, and assets of $1.8M (revenue -15.7% year-over-year).
- 2016: Revenue of $342K, expenses of $94K, and assets of $1.7M (revenue -66.9% year-over-year).
- 2015: Revenue of $1.0M, expenses of $2.6M, and assets of $1.4M (revenue +69.9% year-over-year).
- 2014: Revenue of $608K, expenses of $185K, and assets of $3.3M (revenue -7.2% year-over-year).
- 2013: Revenue of $655K, expenses of $2.6M, and assets of $2.8M (revenue +23.5% year-over-year).
- 2012: Revenue of $530K, expenses of $310K, and assets of $4.5M (revenue +108.6% year-over-year).
- 2011: Revenue of $254K, expenses of $239K, and assets of $3.9M.
Data Sources and Methodology
This transparency report for Hugh Chatham Memorial Hospital Foundation 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.