Avera McKennan

Analysis

Avera McKennan is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in July 1942, 84 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, Avera McKennan reported income of $1.49bn and spending of $1.46bn, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.13bn to $1.49bn (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Avera McKennan sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within SD. Charities of a similar size with the same main cause include St Vincent Hospital & Health Care ($1.48bn), Medstar-Georgetown Medical Center Inc ($1.49bn) and Altamed Health Services Corp ($1.48bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.0% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $4.2m (0.3% of expenses). Other salaries and wages came to $604.7m. At year end it held assets of $1.41bn against liabilities of $597.4m, net assets of $814.3m. It reported 9,325 employees.