GRMC Inc

Analysis

GRMC Inc is a registered charity in United States, based in Oakland, MD. It received its IRS tax-exemption ruling in June 2022, 4 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, GRMC Inc reported income of $80.7m and spending of $59.7m, leaving 26% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $34.7m to $80.7m (+133%), an average of +132% a year. The sharpest change came in the year to December 2023, when income rose by 133%. Over the whole period it spent 78% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, GRMC Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MD. Charities of a similar size with the same main cause include LA Maestra Family Clinic Inc ($80.7m), Divine Savior Healthcare Inc ($80.7m) and Great Lakes Bay Health Centers ($80.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $671k (1.1% of expenses). Other salaries and wages came to $23.4m. At year end it held assets of $76.5m against liabilities of $30.4m, net assets of $46.0m. It reported 536 employees.