Madelia Health

Analysis

Madelia Health is a registered charity in United States, based in Madelia, MN. It received its IRS tax-exemption ruling in July 1956, 70 years ago. 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 May 2023, Madelia Health reported income of $18.2m and spending of $20.6m, spending 113% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $11.7m to $18.2m (+55%), an average of +12% a year. The sharpest change came in the year to May 2021, when income rose by 50%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Madelia Health sits at the 97th percentile: it is larger than about 97% 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 Hospice Endowment Trust Fund of Phoenix Arizona ($18.1m), Garvey Manor Nursing Home ($18.2m) and Goodwill of the Southern Alleghenies Inc ($18.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 2.3% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $773k (3.8% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $17.3m against liabilities of $6.5m, net assets of $10.7m. It reported 212 employees.