Baptist Memorial Medical Group Inc

Analysis

Baptist Memorial Medical Group Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in January 1997, 29 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 September 2023, Baptist Memorial Medical Group Inc reported income of $241.6m and spending of $269.4m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $187.5m to $241.6m (+29%), an average of +6.5% a year. The sharpest change came in the year to September 2021, when income rose by 24%. Over the whole period it spent 112% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Baptist Memorial Medical Group Inc sits at the 97th percentile: it is larger than about 97% of them. 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 Renown Health ($240.7m), McLeod Physician Associates II ($241.8m) and Allen Institute ($240.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $8.7m (3.2% of expenses). Other salaries and wages came to $182.7m. At year end it held assets of $452.4m against liabilities of $832.4m, net assets of -$380.0m. It reported 1,938 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.