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 $2.93bn and spending of $2.82bn, spending 96% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $2.87bn to $2.93bn (+2.2%), an average of +1.1% 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 100th 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 The Methodist Hospital ($2.90bn), Honorhealth ($2.94bn) and University of Chicago Medical Center ($2.89bn).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 2.3% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $28.1m (1.0% of expenses). Other salaries and wages came to $1.33bn. At year end it held assets of $4.48bn against liabilities of $2.08bn, net assets of $2.39bn. It reported 25,277 employees.