Cardiac Institute

Analysis

Cardiac Institute is a registered charity in United States, based in Petoskey, MI. It received its IRS tax-exemption ruling in October 2011, 15 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 September 2023, Cardiac Institute reported income of $73k and spending of $1,044, leaving 99% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $117k to $73k (-38%), an average of -11% a year. The sharpest change came in the year to September 2022, when income rose by 1149%. Over the whole period it spent 6.6% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cardiac Institute sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 28th percentile within MI. Charities of a similar size with the same main cause include Frcna Inc ($73k), Healing Gift Free Clinic ($73k) and A New Path in Christian Counseling Inc ($73k).

At year end it held assets of $1.3m against liabilities of $192k, net assets of $1.1m.