Putnam Hospital Center
Putnam Hospital Center faces persistent operational deficits with expenses consistently exceeding revenue in recent years.
EIN: 146019179 · Carmel, NY · NTEE: E220 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $119.2M |
| Total Expenses | $151.3M |
| Program Spending | 85% |
| Net Assets | $54.0M |
| Transparency Score | 60/100 |
Is Putnam Hospital Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Putnam Hospital Center directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Putnam Hospital Center
Putnam Hospital Center (EIN: 146019179) is a nonprofit organization based in Carmel, NY, classified under NTEE code E220. The organization reported total revenue of $119.2M and total assets of $166.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Putnam Hospital Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Putnam Hospital Center is a major nonprofit that has been operating for 64 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $108.8M |
| Total Expenses | $151.3M |
| Surplus / Deficit | $-42,509,543 |
| Total Assets | $159.7M |
| Total Liabilities | $105.7M |
| Net Assets | $54.0M |
| Operating Margin | -39.1% |
| Debt-to-Asset Ratio | 66.2% |
| Months of Reserves | 12.7 months |
Financial Health Grade: C
In 2023, Putnam Hospital Center reported a deficit of $42.5M with expenses exceeding revenue, holds 12.7 months of operating reserves (strong position), has a debt-to-asset ratio of 66.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Putnam Hospital Center's revenue has declined at a compound annual growth rate (CAGR) of -3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -9.8% | +3.3% | +2.1% |
| 2022 | -14.6% | -2.1% | -19.1% |
| 2021 | -4.5% | -4.2% | +6.0% |
| 2020 | +28.5% | +27.9% | +3.7% |
| 2019 | -29.1% | -21.3% | -6.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1962 |
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 Putnam Hospital Center with a Mission Score of 60 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, Putnam Hospital 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 $42.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 66.2%.
Executive Compensation Analysis
The consistent reporting of 0% for officer compensation across all available IRS 990 filings is highly unusual for a hospital of Putnam Hospital Center's size and revenue, suggesting that executive compensation may be reported through a parent organization or under a different expense category, which limits direct transparency.
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 Putnam Hospital Center's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in multiple recent periods (e.g., $151M expenses vs. $108M revenue in 2023).
- Unusual reporting of 0% officer compensation across all available filings, raising transparency questions regarding executive pay.
- Increasing liabilities over recent years, from $70.4M in 2019 to $105.7M in 2023, indicating growing financial obligations.
Strengths
The following positive indicators were identified for Putnam Hospital Center:
- Maintains substantial assets ($159.7M in 2023), providing a buffer against financial challenges.
- Operates as a general hospital (NTEE E220), indicating a direct focus on essential community health services.
Frequently Asked Questions about Putnam Hospital Center
Is Putnam Hospital Center a legitimate charity?
Putnam Hospital Center (EIN: 146019179) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $119.2M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Putnam Hospital Center spend its money?
Putnam Hospital Center directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Putnam Hospital Center tax-deductible?
Putnam Hospital Center is registered as a tax-exempt nonprofit (EIN: 146019179). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Putnam Hospital Center's spending goes to programs?
Putnam Hospital Center directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Putnam Hospital Center compare to similar nonprofits?
With a transparency score of 60/100 (Good), Putnam Hospital 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 Putnam Hospital Center located?
Putnam Hospital Center is headquartered in Carmel, New York and files with the IRS under EIN 146019179. It is classified under NTEE code E220.
How many years of IRS 990 filings does Putnam Hospital Center have?
Putnam Hospital 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 $119.2M in total revenue.
Is Putnam Hospital Center financially sustainable given its recurring operational deficits?
The hospital has consistently reported expenses exceeding revenue in recent years (e.g., $151M expenses vs. $108M revenue in 2023), indicating an ongoing operational deficit. While it possesses significant assets ($159M in 2023), this trend is not sustainable long-term without drawing on reserves or securing additional funding.
Why is officer compensation consistently reported as 0%?
The consistent 0% officer compensation reported across all filings is atypical for an organization of this scale. This could imply that executive compensation is handled and reported by a larger parent entity, or it's categorized differently within the financial statements, making direct assessment of executive pay challenging from these filings.
How has the hospital's financial position changed over the last five years?
Over the last five years, Putnam Hospital Center has seen its revenue fluctuate, with a notable decrease from $147.9M in 2020 to $108.7M in 2023. Concurrently, expenses have remained high, leading to persistent deficits. Liabilities have also increased significantly from $70.4M in 2019 to $105.7M in 2023, while assets have seen some fluctuation but remain substantial.
Filing History
IRS 990 filing history for Putnam Hospital Center showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Putnam Hospital Center's revenue has declined by 35.4%, moving from $168.4M to $108.8M. Total assets increased by 5.2% over the same period, from $151.9M to $159.7M. Total functional expenses fell by 1.1%, from $153.0M to $151.3M. In its most recent filing year (2023), Putnam Hospital Center reported a deficit of $42.5M, with expenses exceeding revenue. The organization holds $105.7M in liabilities against $159.7M in assets (debt-to-asset ratio: 66.2%), resulting in net assets of $54.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $108.8M | $151.3M | $159.7M | $105.7M | — | View 990 |
| 2022 | $120.6M | $146.5M | $156.4M | $98.8M | — | View 990 |
| 2021 | $141.2M | $149.7M | $193.4M | $99.4M | — | View 990 |
| 2020 | $147.9M | $156.3M | $182.4M | $92.7M | — | View 990 |
| 2019 | $115.1M | $122.2M | $175.9M | $70.4M | — | View 990 |
| 2018 | $162.4M | $155.3M | $188.2M | $68.6M | — | View 990 |
| 2017 | $168.8M | $160.8M | $198.4M | $78.9M | — | View 990 |
| 2016 | $174.3M | $162.3M | $184.0M | $76.9M | — | View 990 |
| 2015 | $164.4M | $156.0M | $180.9M | $84.7M | — | View 990 |
| 2014 | $165.1M | $152.2M | $176.3M | $86.6M | — | View 990 |
| 2013 | $162.4M | $152.3M | $169.6M | $75.4M | — | View 990 |
| 2012 | $163.6M | $155.5M | $157.5M | $92.8M | — | View 990 |
| 2011 | $168.4M | $153.0M | $151.9M | $90.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $108.8M, expenses of $151.3M, and assets of $159.7M (revenue -9.8% year-over-year).
- 2022: Revenue of $120.6M, expenses of $146.5M, and assets of $156.4M (revenue -14.6% year-over-year).
- 2021: Revenue of $141.2M, expenses of $149.7M, and assets of $193.4M (revenue -4.5% year-over-year).
- 2020: Revenue of $147.9M, expenses of $156.3M, and assets of $182.4M (revenue +28.5% year-over-year).
- 2019: Revenue of $115.1M, expenses of $122.2M, and assets of $175.9M (revenue -29.1% year-over-year).
- 2018: Revenue of $162.4M, expenses of $155.3M, and assets of $188.2M (revenue -3.8% year-over-year).
- 2017: Revenue of $168.8M, expenses of $160.8M, and assets of $198.4M (revenue -3.2% year-over-year).
- 2016: Revenue of $174.3M, expenses of $162.3M, and assets of $184.0M (revenue +6.1% year-over-year).
- 2015: Revenue of $164.4M, expenses of $156.0M, and assets of $180.9M (revenue -0.5% year-over-year).
- 2014: Revenue of $165.1M, expenses of $152.2M, and assets of $176.3M (revenue +1.7% year-over-year).
- 2013: Revenue of $162.4M, expenses of $152.3M, and assets of $169.6M (revenue -0.7% year-over-year).
- 2012: Revenue of $163.6M, expenses of $155.5M, and assets of $157.5M (revenue -2.9% year-over-year).
- 2011: Revenue of $168.4M, expenses of $153.0M, and assets of $151.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Putnam Hospital Center:
Data Sources and Methodology
This transparency report for Putnam Hospital 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.