Memorial Health Partners Foundation Inc

Analysis

Memorial Health Partners Foundation Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in March 2003, 23 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Memorial Health Partners Foundation Inc reported income of $121.6m and spending of $150.2m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $94.8m to $121.6m (+28%), an average of +6.4% a year. Over the whole period it spent 128% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Health Partners Foundation Inc 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 99th percentile, and in the 99th percentile within AZ. Charities of a similar size with the same main cause include Nursing Sisters Home Care ($121.5m), Mid-Ohio Foodbank ($121.8m) and Connecticut Foodshare Inc ($120.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.7m (1.8% of expenses). Other salaries and wages came to $90.2m. At year end it held assets of $46.5m against liabilities of $34.1m, net assets of $12.4m. It reported 328 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.