Madison Healthcare Services

Analysis

Madison Healthcare Services is a registered charity in United States, based in Madison, MN. It received its IRS tax-exemption ruling in November 1961, 65 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Madison Healthcare Services reported income of $20.7m and spending of $20.9m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $18.5m to $20.7m (+12%), an average of +2.9% a year. The sharpest change came in the year to September 2021, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Madison Healthcare Services sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include St Vincent de Paul Residence ($20.7m), Colorectal Cancer Alliance Inc ($20.7m) and Portland Community Health Center ($20.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.4% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $408k (2.0% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $44.8m against liabilities of $13.7m, net assets of $31.1m. It reported 208 employees.