Melrosewakefield Healthcare Inc

Analysis

Melrosewakefield Healthcare Inc is a registered charity in United States, based in Medford, MA. It received its IRS tax-exemption ruling in March 1999, 27 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, Melrosewakefield Healthcare Inc reported income of $336.3m and spending of $286.4m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $249.5m to $336.3m (+35%), an average of +7.8% a year. The sharpest change came in the year to September 2023, when income rose by 35%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Melrosewakefield Healthcare Inc 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 MA. Charities of a similar size with the same main cause include SSM Health Care Group ($334.9m), Barrio Comprehensive Family Health Care Center Inc ($337.3m) and Flagler Hospital Inc ($333.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 11% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $656k (0.2% of expenses). Other salaries and wages came to $127.3m. At year end it held assets of $266.2m against liabilities of $204.6m, net assets of $61.6m. It reported 2,148 employees.