Barbara Ann Karmanos Cancer Institute

Analysis

Barbara Ann Karmanos Cancer Institute is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 1949, 77 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Barbara Ann Karmanos Cancer Institute reported income of $24.4m and spending of $32.1m, spending 131% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $20.3m to $24.4m (+21%), an average of +4.8% a year. The sharpest change came in the year to September 2023, when income rose by 22%. Over the whole period it spent 134% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Barbara Ann Karmanos Cancer Institute sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MI. Charities of a similar size with the same main cause include Powell County Memorial Hospital Association ($24.4m), Mercy Hospital Cassville ($24.4m) and Long Island Select Healthcare Inc ($24.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $3.5m (11% of expenses). Other salaries and wages came to $9.4m. It paid $21k in professional fundraising fees. At year end it held assets of $262.2m against liabilities of $34.3m, net assets of $227.9m. It reported 319 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.