Maimonides Medical Center-

Analysis

Maimonides Medical Center- is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 1949, 77 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 December 2023, Maimonides Medical Center- reported income of $1.62bn and spending of $1.66bn, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.30bn to $1.62bn (+24%), an average of +5.6% a year. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Maimonides Medical Center- 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 NY. Charities of a similar size with the same main cause include Rex Hospital Inc ($1.62bn), St Lukes Roosevelt Hospital Center ($1.63bn) and Washington Hospital Center Corporation ($1.62bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.0% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $8.5m (0.5% of expenses). Other salaries and wages came to $780.1m. At year end it held assets of $1.74bn against liabilities of $1.45bn, net assets of $292.4m. It reported 8,207 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.