Providence Medical Foundation

Analysis

Providence Medical Foundation is a registered charity in United States, based in Anaheim, CA. It received its IRS tax-exemption ruling in July 2022, 4 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, Providence Medical Foundation reported income of $1.35bn and spending of $1.35bn, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.09bn to $1.35bn (+24%), an average of +5.5% a year. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Providence Medical Foundation sits at the 99th 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 CA. Charities of a similar size with the same main cause include Corewell Health ($1.35bn), Baptist Health ($1.38bn) and BJC Health System ($1.34bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $4.4m (0.3% of expenses). Other salaries and wages came to $317.7m. At year end it held assets of $524.8m against liabilities of $468.5m, net assets of $56.3m. It reported 5,321 employees.