Mainehealth

Analysis

Mainehealth is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in March 1958, 68 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 September 2023, Mainehealth reported income of $3.69bn and spending of $3.51bn, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.28bn to $3.69bn (+62%), an average of +13% a year. The sharpest change came in the year to September 2021, when income rose by 26%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mainehealth sits at the 100th percentile: it is one of the largest 1% in its cause. 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 Dignity Community Care ($3.56bn), Baptist Healthcare System Inc ($3.69bn) and Franciscan Alliance Inc ($3.54bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 3.2% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $6.7m (0.2% of expenses). Other salaries and wages came to $1.47bn. At year end it held assets of $3.80bn against liabilities of $1.64bn, net assets of $2.16bn. It reported 26,427 employees.