Mercy Health Network Inc

Analysis

Mercy Health Network Inc is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3).

In the financial year ending June 2023, Mercy Health Network Inc reported income of $19.7m and spending of $23.7m, spending 120% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $25.2m to $19.7m (-22%), an average of -5.9% a year. The sharpest change came in the year to June 2022, when income rose by 53%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mercy Health Network Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within IA. Charities of a similar size with the same main cause include State Democracy Project ($19.7m), Pierce Mortuary Colleges Inc ($19.7m) and Visiting Nurse Services of Newport and Bristol Counties ($19.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $4.4m (18% of expenses). Other salaries and wages came to $7.6m. At year end it held assets of $460.0m against liabilities of $447.7m, net assets of $12.3m.