Memorial Health Systems Inc

Analysis

Memorial Health Systems Inc is a registered charity in United States, based in Daytona Beach, FL. It received its IRS tax-exemption ruling in August 1968, 58 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 December 2022, Memorial Health Systems Inc reported income of $543.8m and spending of $544.0m, spending 100% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $424.1m to $543.8m (+28%), an average of +8.6% a year. The sharpest change came in the year to December 2021, when income rose by 19%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Health Systems Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within FL. Charities of a similar size with the same main cause include Women & Infants Hospital of Rhode Island ($542.1m), Martins Point Health Care Inc ($545.6m) and Unmc Physicians ($540.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $3.2m (0.6% of expenses). Other salaries and wages came to $91.5m. At year end it held assets of $557.3m against liabilities of $178.3m, net assets of $379.0m. It reported 3,606 employees.