Olmsted Medical Center

Analysis

Olmsted Medical Center is a registered charity in United States, based in Rochester, MN. It received its IRS tax-exemption ruling in July 1993, 33 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, Olmsted Medical Center reported income of $279.0m and spending of $273.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $228.1m to $279.0m (+22%), an average of +5.2% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Olmsted Medical Center 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 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include The Association of CHRMC and University Physicians ($278.1m), Assistance Fund Inc ($279.0m) and Providence Saint Johns Medical Foundation ($277.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.4m (0.9% of expenses). Other salaries and wages came to $127.4m. At year end it held assets of $295.8m against liabilities of $55.0m, net assets of $240.8m. It reported 1,618 employees.