Ridgeview Medical Center

Analysis

Ridgeview Medical Center is a registered charity in United States, based in Waconia, MN. It received its IRS tax-exemption ruling in November 1999, 27 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 December 2023, Ridgeview Medical Center reported income of $333.3m and spending of $338.7m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $279.0m to $333.3m (+19%), an average of +4.5% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Ridgeview Medical Center 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 MN. Charities of a similar size with the same main cause include Provident Resources Group Inc ($333.2m), Upper Chesapeake Medical Center Inc ($333.5m) and Pih Health Physicians ($333.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $5.3m (1.6% of expenses). Other salaries and wages came to $155.7m. At year end it held assets of $409.5m against liabilities of $251.5m, net assets of $158.1m. It reported 2,649 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.