Umass Memorial Health Care Inc

Analysis

Umass Memorial Health Care Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Umass Memorial Health Care Inc reported income of $563.7m and spending of $539.0m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $399.7m to $563.7m (+41%), an average of +9.0% a year. The sharpest change came in the year to September 2023, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Umass Memorial Health Care Inc sits at the 99th percentile: it is larger than about 99% 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 Meritus Medical Center Inc ($563.4m), Crouse Health Hospital Inc ($564.0m) and Piedmont Henry Hospital Inc ($563.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.4% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $13.9m (2.6% of expenses). Other salaries and wages came to $170.2m. At year end it held assets of $1.88bn against liabilities of $1.19bn, net assets of $693.4m. It reported 2,280 employees.