Boston Medical Center Corporation

Analysis

Boston Medical Center Corporation is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in June 1996, 30 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, Boston Medical Center Corporation reported income of $2.38bn and spending of $2.42bn, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.75bn to $2.38bn (+36%), an average of +8.0% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Boston Medical Center Corporation 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 MA. Charities of a similar size with the same main cause include Florida Health Sciences Center Inc ($2.36bn), Presbyterian Healthcare Services ($2.39bn) and Grady Memorial Hospital Corporation ($2.36bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $4.2m (0.2% of expenses). Other salaries and wages came to $758.1m. At year end it held assets of $2.63bn against liabilities of $1.38bn, net assets of $1.25bn. It reported 11,529 employees.