Providence Medical Institute

Analysis

Providence Medical Institute is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in October 1988, 38 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Providence Medical Institute reported income of $222.0m and spending of $222.2m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $114.4m to $222.0m (+94%), an average of +18% a year. The sharpest change came in the year to December 2020, when income rose by 80%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Medical Institute 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 WA. Charities of a similar size with the same main cause include Skookum Educational Programs ($221.5m), Claremont McKenna College ($222.7m) and Munson Healthcare ($215.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 98% of the total. Other salaries and wages came to $49.3m. At year end it held assets of $81.7m against liabilities of $156.5m, net assets of -$74.9m.