Corewell Health

Analysis

Corewell Health is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2014, 12 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 2019, Corewell Health reported income of $12.2m and spending of $11.2m, spending 92% of its income. Across the 2 years on record, from September 2019 to December 2019, income fell from $44.0m to $12.2m (-72%), an average of -72% a year. The sharpest change came in the year to December 2019, when income dropped by 72%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Corewell Health sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include American Society for Surgery of the Hand ($12.2m), Harbor Community Clinic Inc ($12.2m) and American Association of Immunologists Inc ($12.2m).

On its Form 990 for the period ending December 2019, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Other salaries and wages came to $5.4m. At year end it held assets of $30.1m against liabilities of $2.5m, net assets of $27.6m. It reported 369 employees.