North Memorial Health Care

Analysis

North Memorial Health Care is a registered charity in United States, based in Robbinsdale, MN. It received its IRS tax-exemption ruling in March 1941, 85 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 December 2023, North Memorial Health Care reported income of $907.6m and spending of $914.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $865.1m to $907.6m (+4.9%), an average of +1.2% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, North Memorial Health Care sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Geisinger Wyoming Valley Medical Center ($905.8m), Childrens Hospital of Alabama ($909.3m) and Yale New Haven Health Services Corporation ($904.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $7.1m (0.8% of expenses). Other salaries and wages came to $442.5m. At year end it held assets of $679.6m against liabilities of $297.6m, net assets of $382.0m. It reported 6,570 employees.