Med Centro Inc

Analysis

Med Centro Inc is a registered charity in United States, based in Mercedita, PR. It received its IRS tax-exemption ruling in June 1985, 41 years ago. 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 December 2023, Med Centro Inc reported income of $167.7m and spending of $141.7m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $87.7m to $167.7m (+91%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 28%. 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, Med Centro 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 PR. Charities of a similar size with the same main cause include Neo Philanthropy Inc ($167.6m), City Year Inc ($168.2m) and Concepts of Independence Inc ($165.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.8m (1.3% of expenses). Other salaries and wages came to $20.4m. At year end it held assets of $143.9m against liabilities of $8.1m, net assets of $135.8m. It reported 495 employees.