Corewell Health

Analysis

Corewell Health is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2014, 12 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 2023, Corewell Health reported income of $10.37bn and spending of $10.23bn, spending 99% of its income. Across the 5 years on record, from June 2019 to December 2023, income grew from $3.52bn to $10.37bn (+194%), an average of +31% a year. The sharpest change came in the year to December 2022, when income rose by 111%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Corewell Health 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 100th percentile, and in the 100th percentile within MI. Charities of a similar size with the same main cause include The New York and Presbyterian Hospital ($10.25bn), Healthfirst PHSP Inc ($12.09bn) and Dignity Health ($9.91bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Other salaries and wages came to $4.09bn. At year end it held assets of $8.72bn against liabilities of $3.47bn, net assets of $5.25bn.