Promedica Health System Inc

Analysis

Promedica Health System Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in February 1987, 39 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Promedica Health System Inc reported income of $327.9m and spending of $433.3m, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $428.4m to $327.9m (-23%), an average of -6.5% a year. The sharpest change came in the year to December 2022, when income rose by 91%. Over the whole period it spent 201% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promedica Health System Inc 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 OH. Charities of a similar size with the same main cause include McLaren Bay Region ($327.4m), Banner-University Care Advantage ($327.9m) and North East Medical Services ($327.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $9.4m (2.2% of expenses). Other salaries and wages came to $121.6m. At year end it held assets of $854.1m against liabilities of $326.3m, net assets of $527.8m. It reported 2,008 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.