Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc

Analysis

Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in October 1977, 49 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 under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc reported income of $11.3m and spending of $17.8m, spending 157% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $11.3m (+178%), an average of +29% a year. The sharpest change came in the year to June 2020, when income rose by 735%. Over the whole period it spent 39% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within IA. Charities of a similar size with the same main cause include Healtheway Inc ($11.3m), Neighborhood Medical Center Inc ($11.3m) and American Association of Colleges of Pharmacy ($11.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% of the total. Compensation of current officers, directors and key employees was $214k (1.2% of expenses). Other salaries and wages came to $435k. At year end it held assets of $132.8m against liabilities of $2.8m, net assets of $130.1m. It reported 7 employees.