Memorial Hospital

Analysis

Memorial Hospital is a registered charity in United States, based in Owosso, MI. It received its IRS tax-exemption ruling in May 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, Memorial Hospital reported income of $298.6m and spending of $292.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $217.8m to $298.6m (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Hospital 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 MI. Charities of a similar size with the same main cause include Paulding Medical Center Inc ($298.4m), Shore Health System Inc ($298.9m) and Carilion New River Valley Medical Center ($298.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $4.3m (1.5% of expenses). Other salaries and wages came to $106.3m. At year end it held assets of $196.1m against liabilities of $88.1m, net assets of $108.1m. It reported 1,821 employees.