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 2015, 11 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 December 2022, Corewell Health reported income of $17.5m and spending of $21.1m, spending 120% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $34.3m to $17.5m (-49%), an average of -20% a year. The sharpest change came in the year to December 2022, when income dropped by 26%. Over the whole period it spent 100% 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 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Mid-South Transplant Foundation Inc ($17.5m), National Federation of the Blind Inc ($17.6m) and Youth Home Inc ($17.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.6% and program service revenue 94% of the total. At year end it held assets of $120.9m against liabilities of $65.5m, net assets of $55.4m.