Essentia Health

Analysis

Essentia Health is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Essentia Health reported income of $348.2m and spending of $340.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $194.2m to $348.2m (+79%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 79%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Essentia Health 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 MN. Charities of a similar size with the same main cause include Inclusa Inc ($348.0m), National Jewish Health ($348.5m) and Catalight Foundation ($347.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $10.2m (3.0% of expenses). Other salaries and wages came to $188.7m. At year end it held assets of $723.2m against liabilities of $294.7m, net assets of $428.5m. It reported 3,420 employees.