Miami Cancer Institute at Baptist Health Inc

Analysis

Miami Cancer Institute at Baptist Health Inc is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover diseases, disorders and medical disciplines, 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 September 2023, Miami Cancer Institute at Baptist Health Inc reported income of $102.1m and spending of $112.5m, spending 110% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $38.3m to $102.1m (+167%), an average of +28% a year. The sharpest change came in the year to September 2020, when income rose by 105%. Over the whole period it spent 111% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Miami Cancer Institute at Baptist Health Inc 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 FL. Charities of a similar size with the same main cause include Lansdale Hospital ($102.1m), Hutchinson Health ($102.3m) and Emma Pendleton Bradley Hospital ($101.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $2.9m (2.6% of expenses). Other salaries and wages came to $56.1m. At year end it held assets of $25.3m against liabilities of $123.6m, net assets of -$98.3m. It reported 1,170 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.