Memorial Foundation of Allen Hospital

Analysis

Memorial Foundation of Allen Hospital is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in September 1991, 35 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Memorial Foundation of Allen Hospital reported income of $4.9m and spending of $5.3m, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $4.9m (+68%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 63%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Foundation of Allen Hospital sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within IA. Charities of a similar size with the same main cause include Group Psychotherapy Foundation Inc ($4.9m), Jane Phillips Nowata Hospital Inc ($4.9m) and Kennebec Mental Health Associates Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $608k. It paid $60k in professional fundraising fees. At year end it held assets of $24.9m against liabilities of $175k, net assets of $24.7m.