Corewell Health

Analysis

Corewell Health is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2014, 12 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Corewell Health reported income of $92.5m and spending of $92.5m, spending 100% of its income. Across the 3 years on record, from December 2019 to December 2021, income grew from $49.4m to $92.5m (+87%), an average of +37% a year. The sharpest change came in the year to December 2021, when income rose by 112%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Corewell Health sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include Centerstone of Indiana Inc ($92.5m), Variety Care Inc ($92.6m) and Southern Illinois Healthcare Foundation Inc ($92.3m).

On its Form 990 for the period ending December 2021, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $33k (0.0% of expenses). At year end it held assets of $815.4m against liabilities of $815.4m, net assets of $0.