The Medical Center at Ocean Reef Inc

Analysis

The Medical Center at Ocean Reef Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in December 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Medical Center at Ocean Reef Inc reported income of $7.6m and spending of $7.7m, spending 102% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.6m to $7.6m (+64%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Medical Center at Ocean Reef Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Rosehill Christian School ($7.6m), Association of Maternal and Child Health Programs ($7.6m) and Central East Alcoholism & Drug Council ($7.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 49% and program service revenue 49% of the total. Other salaries and wages came to $3.7m. At year end it held assets of $2.2m against liabilities of $1.4m, net assets of $847k. It reported 42 employees.