Wa Foote Memorial Hospital

Analysis

Wa Foote Memorial Hospital is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in March 1946, 80 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, Wa Foote Memorial Hospital reported income of $828.1m and spending of $784.1m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $717.3m to $828.1m (+15%), an average of +3.7% a year. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wa Foote Memorial Hospital 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 100th percentile, and in the 100th percentile within MI. Charities of a similar size with the same main cause include Presence St Marys Hospital Presence Central and Suburban Hospitals Net ($825.2m), South Shore Hospital Inc ($828.5m) and Virginia Hospital Center Arlington Health System ($824.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $4.0m (0.5% of expenses). Other salaries and wages came to $302.2m. At year end it held assets of $807.4m against liabilities of $310.8m, net assets of $496.6m. It reported 4,574 employees.