South Bend Medical Foundation Inc

Analysis

South Bend Medical Foundation Inc is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in September 1949, 77 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, South Bend Medical Foundation Inc reported income of $18.4m and spending of $23.1m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $129.3m to $18.4m (-86%), an average of -38% a year. The sharpest change came in the year to December 2020, when income dropped by 86%. Over the whole period it spent 82% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, South Bend Medical Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IN. Charities of a similar size with the same main cause include Loring Hospital ($18.4m), Morehouse Community Medical Centers Inc ($18.4m) and Community Health Councils Inc ($18.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $1.3m (5.7% of expenses). Other salaries and wages came to $8.5m. At year end it held assets of $49.2m against liabilities of $13.9m, net assets of $35.3m. It reported 179 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.