Texas Medical Center Foundation

Analysis

Texas Medical Center Foundation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in June 2015, 11 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 i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Texas Medical Center Foundation reported income of $3.2m and spending of $3.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.9m to $3.2m (-64%), an average of -23% a year. The sharpest change came in the year to December 2021, when income dropped by 71%. Over the whole period it spent 120% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Texas Medical Center Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include VCS Inc ($3.2m), Dallas Va Research Corporation ($3.2m) and Island Commons Resource Center ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 67% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $5.5m against liabilities of $31.2m, net assets of -$25.7m. It reported 8 employees.