Childrens Hospital Medical Center of Akron

Analysis

Childrens Hospital Medical Center of Akron is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in April 1937, 89 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, Childrens Hospital Medical Center of Akron reported income of $1.38bn and spending of $1.25bn, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.01bn to $1.38bn (+36%), an average of +8.1% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 90% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Childrens Hospital Medical Center of Akron 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 OH. Charities of a similar size with the same main cause include Reading Hospital ($1.38bn), Texas Health Resources ($1.39bn) and Baptist Health ($1.38bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $16.5m (1.3% of expenses). Other salaries and wages came to $590.6m. At year end it held assets of $2.21bn against liabilities of $593.1m, net assets of $1.62bn. It reported 8,203 employees.