Corewell Health

Analysis

Corewell Health is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2014, 12 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 2019, Corewell Health reported income of $126.3m and spending of $111.3m, spending 88% of its income. Across the 2 years on record, from September 2019 to December 2019, income fell from $458.9m to $126.3m (-72%), an average of -72% a year. The sharpest change came in the year to December 2019, when income dropped by 72%. Over the whole period it spent 90% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Corewell Health 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 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Salud Integral En LA Montana Inc ($126.1m), Harnett Health System Inc ($126.3m) and Recovery Innovations Inc ($125.7m).

On its Form 990 for the period ending December 2019, revenue came from contributions and grants 0.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $3.6m (3.3% of expenses). Other salaries and wages came to $38.1m. At year end it held assets of $930.5m against liabilities of $191.8m, net assets of $738.8m. It reported 3,393 employees.