Mercy-Memorial Hospital Corporation

Analysis

Mercy-Memorial Hospital Corporation is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in March 1973, 53 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 2023, Mercy-Memorial Hospital Corporation reported income of $164.9m and spending of $172.8m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $136.3m to $164.9m (+21%), an average of +4.9% a year. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mercy-Memorial Hospital Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include Wellstar Spalding Regional Hospital Inc ($164.6m), Michigan Public Health Institute ($165.3m) and Mhic ($164.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 97% of the total. Other salaries and wages came to $53.5m. At year end it held assets of $92.5m against liabilities of $29.2m, net assets of $63.3m. It reported 1,238 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.