Medical Education Assistance Corporation

Analysis

Medical Education Assistance Corporation is a registered charity in United States, based in Mountain Home, TN. It received its IRS tax-exemption ruling in April 1979, 47 years ago. 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 June 2023, Medical Education Assistance Corporation reported income of $56.7m and spending of $52.4m, spending 92% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $45.0m to $56.7m (+26%), an average of +8.0% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Medical Education Assistance Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Greater Lynn Senior Services Inc ($56.2m), Risewell Community Services Inc ($56.8m) and Kawerak Inc ($56.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $655k (1.3% of expenses). Other salaries and wages came to $32.5m. At year end it held assets of $51.8m against liabilities of $11.5m, net assets of $40.3m. It reported 490 employees.