Midstate Medical Center

Analysis

Midstate Medical Center is a registered charity in United States, based in Meriden, CT. It received its IRS tax-exemption ruling in June 1923, 103 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, Midstate Medical Center reported income of $478.5m and spending of $466.0m, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $320.1m to $478.5m (+49%), an average of +11% a year. The sharpest change came in the year to September 2020, when income rose by 19%. 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, Midstate Medical Center 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 CT. Charities of a similar size with the same main cause include St Lukes Methodist Hospital ($477.1m), Chester County Hospital ($479.3m) and The Brooklyn Hospital Center ($476.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $8,500 (0.0% of expenses). Other salaries and wages came to $127.3m. At year end it held assets of $474.9m against liabilities of $174.0m, net assets of $300.9m. It reported 1,831 employees.