Grace Medical Center Inc

Analysis

Grace Medical Center Inc is a registered charity in United States, based in Owings Mills, MD. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 June 2023, Grace Medical Center Inc reported income of $10.8m and spending of $25.5m, spending 237% of what it took in. Across the 5 years on record, from August 2019 to June 2023, income fell from $112.2m to $10.8m (-90%), an average of -44% a year. The sharpest change came in the year to June 2023, when income dropped by 54%. Over the whole period it spent 131% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Grace Medical Center Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Varp Inc ($10.8m), Hospital for Extended Recovery ($10.8m) and West Central Services Inc ($10.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.7% and program service revenue 86% of the total. Other salaries and wages came to $10.5m. At year end it held assets of $86.1m against liabilities of $91.4m, net assets of -$5.2m. It reported 381 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.