Promedica Foundation

Analysis

Promedica Foundation 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 public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Promedica Foundation reported income of $16.6m and spending of $25.1m, spending 151% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $36.9m to $16.6m (-55%), an average of -18% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Promedica Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within OH. Charities of a similar size with the same main cause include Florida Alcohol and Drug Abuse Association Inc ($16.6m), Carolina Friends School ($16.6m) and Broad Top Area Medical Center Inc ($16.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% of the total. Other salaries and wages came to $2.4m. It paid $258k in professional fundraising fees. At year end it held assets of $359.9m against liabilities of $21.4m, net assets of $338.5m.