Memorial Health Care System Inc

Analysis

Memorial Health Care System Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Memorial Health Care System Inc reported income of $655.7m and spending of $698.8m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $599.6m to $655.7m (+9.4%), an average of +2.3% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Health Care 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 100th percentile, and in the 100th percentile within AZ. Charities of a similar size with the same main cause include Northeast Medical Group Inc ($622.0m), St Marys Medical Center Inc ($659.7m) and Young Mens Christian Association Retirement Fund ($606.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $5.6m (0.8% of expenses). Other salaries and wages came to $234.7m. At year end it held assets of $731.8m against liabilities of $385.7m, net assets of $346.1m. It reported 4,484 employees.