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 2021, Corewell Health reported income of $1.35bn and spending of $1.29bn, spending 96% of its income. Across the 3 years on record, from December 2019 to December 2021, income fell from $1.37bn to $1.35bn (-1.9%), an average of -0.9% a year. 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 99th percentile: it is one of the largest 1% in its cause. 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 BJC Health System ($1.34bn), Providence Medical Foundation ($1.35bn) and Deaconess Hospital Inc ($1.31bn).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 1.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $3.8m (0.3% of expenses). Other salaries and wages came to $475.2m. At year end it held assets of $1.21bn against liabilities of $478.1m, net assets of $730.3m. It reported 12,445 employees.