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 supporting organisation 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 $719.9m and spending of $815.5m, spending 113% of what it took in. Across the 4 years on record, from June 2019 to December 2022, income fell from $836.0m to $719.9m (-14%), an average of -4.9% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 92% 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 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MI. Charities of a similar size with the same main cause include Gaston Memorial Hospital Inc ($709.9m), Boca Raton Regional Hospital Inc ($720.6m) and Johns Hopkins All Childrens Hospital Inc ($702.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $22.8m (2.8% of expenses). Other salaries and wages came to $354.8m. At year end it held assets of $3.52bn against liabilities of $1.78bn, net assets of $1.75bn. It reported 37,776 employees.