Baltimore Medical System Inc

Analysis

Baltimore Medical System Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 1985, 41 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, Baltimore Medical System Inc reported income of $95.4m and spending of $100.0m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $65.1m to $95.4m (+47%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Baltimore Medical System Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include Touro University ($95.3m), St Louis Municipal Finance Corporation ($95.6m) and American Institute for Chartered Property Casualty Underwriters ($95.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $2.6m (2.6% of expenses). Other salaries and wages came to $40.0m. At year end it held assets of $47.9m against liabilities of $19.2m, net assets of $28.7m. It reported 556 employees.