Central Maine Medical Center

Analysis

Central Maine Medical Center is a registered charity in United States, based in Lewiston, ME. It received its IRS tax-exemption ruling in March 1942, 84 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Central Maine Medical Center reported income of $505.4m and spending of $524.7m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $393.2m to $505.4m (+29%), an average of +6.5% a year. The sharpest change came in the year to June 2022, when income rose by 16%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Central Maine Medical Center sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within ME. Charities of a similar size with the same main cause include St Vincents Birmingham ($504.4m), Louisiana Childrens Medical Center ($505.4m) and East Carolina Health ($504.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $4.8m (0.9% of expenses). Other salaries and wages came to $230.4m. At year end it held assets of $283.3m against liabilities of $184.4m, net assets of $99.0m. It reported 2,308 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.