Avera Granite Falls

Analysis

Avera Granite Falls is a registered charity in United States, based in Granite Falls, MN. It received its IRS tax-exemption ruling in August 2020, 6 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 June 2023, Avera Granite Falls reported income of $29.6m and spending of $28.5m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $13.7m to $29.6m (+115%), an average of +29% a year. The sharpest change came in the year to June 2021, when income rose by 108%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Avera Granite Falls sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Community Stroke and Rehabilitation Center Inc ($29.6m), Community Health Center of Cape Cod Inc ($29.6m) and Centre County Cancer Center ($29.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $356k (1.3% of expenses). Other salaries and wages came to $11.0m. At year end it held assets of $27.9m against liabilities of $11.8m, net assets of $16.1m. It reported 228 employees.