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 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 December 2019, Corewell Health reported income of $5.3m and spending of $4.5m, spending 86% of its income. Across the 2 years on record, from September 2019 to December 2019, income fell from $19.2m to $5.3m (-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 91% 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 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within MI. Charities of a similar size with the same main cause include Burrell-Preferred Inc ($5.3m), Samuel Dixon Family Health Center Inc ($5.3m) and Adrienne Helis Malvin Medical Research Foundation ($5.3m).

On its Form 990 for the period ending December 2019, revenue came from contributions and grants 5.6% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $111k (2.5% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $18.8m against liabilities of $7.7m, net assets of $11.1m. It reported 219 employees.