Mary Ann Morse Healthcare Corp

Analysis

Mary Ann Morse Healthcare Corp is a registered charity in United States, based in Framingham, MA. It received its IRS tax-exemption ruling in October 1990, 36 years ago. 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, Mary Ann Morse Healthcare Corp reported income of $29.4m and spending of $30.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $20.9m to $29.4m (+41%), an average of +9.0% a year. The sharpest change came in the year to December 2022, when income rose by 19%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mary Ann Morse Healthcare Corp 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 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Boston Athletic Assoc ($29.3m), Adventist Physician Services Inc ($29.4m) and American Society of Clinical Pathologists ($29.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.9% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $756k (2.5% of expenses). Other salaries and wages came to $17.5m. At year end it held assets of $36.3m against liabilities of $19.3m, net assets of $17.0m. It reported 326 employees.