Grand Itasca Clinic and Hospital

Analysis

Grand Itasca Clinic and Hospital is a registered charity in United States, based in Grand Rapids, MN. It received its IRS tax-exemption ruling in September 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 December 2023, Grand Itasca Clinic and Hospital reported income of $122.2m and spending of $117.6m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $97.0m to $122.2m (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2021, when income rose by 19%. 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, Grand Itasca Clinic and Hospital sits at the 96th percentile: it is larger than about 96% 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 Moses Cone Affiliated Physicians Inc ($122.2m), St Vincent Medical Group ($122.4m) and Arh Mary Breckinridge Health Services Inc ($122.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.9m (1.6% of expenses). Other salaries and wages came to $58.5m. At year end it held assets of $99.0m against liabilities of $28.0m, net assets of $71.0m. It reported 895 employees.