Centracare Health System

Analysis

Centracare Health System is a registered charity in United States, based in Saint Cloud, MN. It received its IRS tax-exemption ruling in February 1997, 29 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 June 2023, Centracare Health System reported income of $596.5m and spending of $522.2m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $402.6m to $596.5m (+48%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Centracare Health System 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 MN. Charities of a similar size with the same main cause include Wellspan Health ($593.2m), Beebe Medical Center Inc ($597.7m) and Advocate Health Care Network ($592.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $13.5m (2.6% of expenses). Other salaries and wages came to $221.0m. At year end it held assets of $1.07bn against liabilities of $624.5m, net assets of $441.9m. It reported 15,425 employees.