The Memorial Health Care Foundation

Analysis

The Memorial Health Care Foundation is a registered charity in United States, based in Owosso, MI. It received its IRS tax-exemption ruling in December 1992, 34 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Memorial Health Care Foundation reported income of $1.2m and spending of $640k, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $881k to $1.2m (+38%), an average of +8.4% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 52% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Memorial Health Care Foundation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Friends of Hatikvah International Academy Charter School Inc ($1.2m), National Postsecondary Strategy Institute ($1.2m) and Vivekananda Yoga University ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% of the total. Other salaries and wages came to $58k. At year end it held assets of $10.1m against liabilities of $383k, net assets of $9.7m.