Riverside Medical Center

Analysis

Riverside Medical Center is a registered charity in United States, based in Kankakee, IL. It received its IRS tax-exemption ruling in September 1965, 61 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, Riverside Medical Center reported income of $457.5m and spending of $425.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $396.1m to $457.5m (+16%), an average of +3.7% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Riverside Medical Center 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 IL. Charities of a similar size with the same main cause include Roper Hospital Inc ($457.1m), Chronic Disease Fund Inc ($457.7m) and Providence Saint Johns Health Center ($456.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $6.4m (1.5% of expenses). Other salaries and wages came to $174.9m. At year end it held assets of $761.5m against liabilities of $215.3m, net assets of $546.3m. It reported 3,086 employees.