Schoolcraft Memorial Hospital

Analysis

Schoolcraft Memorial Hospital is a registered charity in United States, based in Manistique, MI. It received its IRS tax-exemption ruling in September 2007, 19 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 December 2023, Schoolcraft Memorial Hospital reported income of $56.2m and spending of $56.9m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $38.8m to $56.2m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Schoolcraft Memorial Hospital sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include United Physicians Care Inc ($56.1m), The Bellevue Hospital ($56.3m) and Androscoggin Home Health Services Inc ($56.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.4m (2.5% of expenses). Other salaries and wages came to $23.7m. At year end it held assets of $49.9m against liabilities of $45.5m, net assets of $4.3m. It reported 400 employees.