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 $452.2m and spending of $399.2m, spending 88% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $424.8m to $452.2m (+6.5%), an average of +3.2% a year. Over the whole period it spent 89% 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 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 Gothic HSP Corporation ($451.9m), Virtua-Memorial Hospital Burlington County Inc ($452.5m) and Franciscan Medical Group ($449.7m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 0.7% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $367k (0.1% of expenses). Other salaries and wages came to $122.3m. At year end it held assets of $344.0m against liabilities of $56.7m, net assets of $287.3m. It reported 2,592 employees.