Henry Ford Cornerstone Medical Group

Analysis

Henry Ford Cornerstone Medical Group is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 1986, 40 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Henry Ford Cornerstone Medical Group reported income of $49.2m and spending of $63.7m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $42.8m to $49.2m (+15%), an average of +3.6% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 130% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Henry Ford Cornerstone Medical Group sits at the 93rd percentile: it is larger than about 93% 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 Alcona Citizens for Health Inc ($49.1m), Baptist Memorial Hospital Union City Inc ($49.3m) and Mendocino Community Health Clinic Inc ($49.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $8.1m against liabilities of $6.3m, net assets of $1.8m.

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.