SMDC Medical Center

Analysis

SMDC Medical Center is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in October 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, SMDC Medical Center reported income of $701.8m and spending of $711.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $559.4m to $701.8m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2021, when income rose by 19%. 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, SMDC Medical Center 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 Berkshire Medical Center Inc ($700.9m), Johns Hopkins All Childrens Hospital Inc ($702.2m) and Union Hospital Inc ($699.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $5.8m (0.8% of expenses). Other salaries and wages came to $322.8m. At year end it held assets of $1.13bn against liabilities of $913.3m, net assets of $212.5m. It reported 3,085 employees.