Martin Luther King Jr Los Angeles Healthcare Corporation

Analysis

Martin Luther King Jr Los Angeles Healthcare Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2013, 13 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 June 2023, Martin Luther King Jr Los Angeles Healthcare Corporation reported income of $377.8m and spending of $412.6m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $326.9m to $377.8m (+16%), an average of +3.7% a year. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Martin Luther King Jr Los Angeles Healthcare Corporation 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 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include The Childrens Hospital of Philadelphia Foundation ($377.6m), Ascension Ne Wisconsin Inc ($377.9m) and Baylor Regional Medical Center at Plano ($376.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.6% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $8.3m (2.0% of expenses). Other salaries and wages came to $95.5m. At year end it held assets of $611.1m against liabilities of $536.4m, net assets of $74.7m. It reported 1,747 employees.