Providence Medical Center

Analysis

Providence Medical Center is a registered charity in United States, based in Wayne, NE. It received its IRS tax-exemption ruling in April 2010, 16 years ago. 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 December 2023, Providence Medical Center reported income of $31.6m and spending of $30.6m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $25.0m to $31.6m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Providence Medical Center sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within NE. Charities of a similar size with the same main cause include International Center for Living Aquatic Resources Management Inc I ($31.6m), Arc of New Jersey Inc ($31.6m) and Hospice of Northwest Ohio ($31.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $404k (1.3% of expenses). Other salaries and wages came to $10.5m. At year end it held assets of $50.6m against liabilities of $18.3m, net assets of $32.3m. It reported 215 employees.