Versiti Michigan Inc

Analysis

Versiti Michigan Inc is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in September 1964, 62 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Versiti Michigan Inc reported income of $69.0m and spending of $65.4m, spending 95% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $56.1m to $69.0m (+23%), an average of +4.3% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Versiti Michigan Inc sits at the 94th percentile: it is larger than about 94% of them. 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 Saint Lukes Hospital of Chillicothe ($69.0m), Stony Brook Surgical Associates University Faculty Practice Corp ($69.0m) and Tampa General Medical Group Inc ($69.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1.4m (2.1% of expenses). Other salaries and wages came to $22.4m. At year end it held assets of $44.7m against liabilities of $6.1m, net assets of $38.7m. It reported 633 employees.