Hendrick Medical Center Foundation

Analysis

Hendrick Medical Center Foundation is a registered charity in United States, based in Abilene, TX. It received its IRS tax-exemption ruling in July 1975, 51 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 August 2023, Hendrick Medical Center Foundation reported income of $5.4m and spending of $2.0m, leaving 63% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $3.4m to $5.4m (+56%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 94%. Over the whole period it spent 56% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hendrick Medical Center Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 94th percentile within TX. Charities of a similar size with the same main cause include Aimed ($5.4m), Culpeper Wellness Foundation ($5.4m) and Fairview Recovery Services Inc ($5.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 79% of the total. Compensation of current officers, directors and key employees was $254k (13% of expenses). Other salaries and wages came to $166k. At year end it held assets of $76.4m against liabilities of $294k, net assets of $76.1m. It reported 4 employees.