Munson Medical Center

Analysis

Munson Medical Center is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in November 1943, 83 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 June 2023, Munson Medical Center reported income of $746.6m and spending of $766.6m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $682.5m to $746.6m (+9.4%), an average of +2.3% a year. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Munson Medical Center sits at the 99th percentile: it is larger than about 99% 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 Bellin Memorial Hospital Inc ($746.1m), Hartford Health Care Corporation ($748.1m) and Childrens Hospital & Research Center at Oakland ($745.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.2m (0.2% of expenses). Other salaries and wages came to $250.4m. At year end it held assets of $436.0m against liabilities of $95.0m, net assets of $341.0m. It reported 5,115 employees.