Meharry Medical College

Analysis

Meharry Medical College is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in September 1937, 89 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Meharry Medical College reported income of $209.4m and spending of $200.7m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $140.4m to $209.4m (+49%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 88%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Meharry Medical College 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 TN. Charities of a similar size with the same main cause include Loyola University ($209.2m), Siena University ($210.1m) and Rutgers University Foundation ($208.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $5.8m (2.9% of expenses). Other salaries and wages came to $79.6m. It paid $245k in professional fundraising fees. At year end it held assets of $452.0m against liabilities of $108.9m, net assets of $343.1m. It reported 1,292 employees.