Centracare Health System of Melrose

Analysis

Centracare Health System of Melrose is a registered charity in United States, based in Melrose, MN. It received its IRS tax-exemption ruling in April 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 of Melrose reported income of $54.9m and spending of $52.4m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $46.2m to $54.9m (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2022, when income rose by 29%. 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, Centracare Health System of Melrose sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Usona Institute Inc ($54.9m), Ascension Via Christi Hospital St Teresa Inc ($55.0m) and Soldiers & Sailors Memorial ($54.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.7m (5.2% of expenses). Other salaries and wages came to $22.0m. At year end it held assets of $71.8m against liabilities of $15.9m, net assets of $55.9m.