Mymichigan Medical Center Clare

Analysis

Mymichigan Medical Center Clare is a registered charity in United States, based in Midland, MI. It received its IRS tax-exemption ruling in January 1953, 73 years ago. 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, Mymichigan Medical Center Clare reported income of $75.6m and spending of $70.6m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $57.4m to $75.6m (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2022, when income rose by 24%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mymichigan Medical Center Clare 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 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Rediscover ($75.6m), Careconnect Health Inc ($75.7m) and LA Jolla Institute for Immunology ($75.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.0% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $267k (0.4% of expenses). Other salaries and wages came to $22.1m. At year end it held assets of $65.9m against liabilities of $10.9m, net assets of $55.0m. It reported 396 employees.