Tufts Medical Center Parent Inc

Analysis

Tufts Medical Center Parent Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 2008, 18 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 September 2023, Tufts Medical Center Parent Inc reported income of $1.30bn and spending of $1.32bn, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.01bn to $1.30bn (+28%), an average of +6.4% a year. 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, Tufts Medical Center Parent Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Ascension Health-Is Inc ($1.25bn), University of Waterloo ($1.35bn) and Royal Institution for the Advancement of Learning-Mcgill Uni ($1.25bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 9.5% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $4.0m (0.3% of expenses). Other salaries and wages came to $465.9m. It paid $3,000 in professional fundraising fees. At year end it held assets of $1.13bn against liabilities of $921.0m, net assets of $211.4m. It reported 7,908 employees.