Medic Inc

Analysis

Medic Inc is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in March 1981, 45 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Medic Inc reported income of $20.0m and spending of $19.2m, spending 96% of its income. Across the 5 years on record, from April 2020 to April 2024, income grew from $16.4m to $20.0m (+22%), an average of +5.1% a year. The sharpest change came in the year to April 2021, when income rose by 22%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Medic Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within TN. Charities of a similar size with the same main cause include Charles County Nursing Home Inc ($20.0m), Boston Home Inc ($20.0m) and Advocate Health Care Network ($20.0m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 0.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $989k (5.2% of expenses). Other salaries and wages came to $6.8m. At year end it held assets of $29.8m against liabilities of $2.9m, net assets of $27.0m. It reported 181 employees.