Banner Medical Group

Analysis

Banner Medical Group is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in January 2012, 14 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, Banner Medical Group reported income of $560.7m and spending of $770.7m, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $407.3m to $560.7m (+38%), an average of +8.3% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 133% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Banner Medical Group sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within AZ. Charities of a similar size with the same main cause include Baycare Medical Group Inc ($559.9m), Holy Name Medical Center Inc ($560.9m) and St Agnes Healthcare Inc ($559.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.9m (0.2% of expenses). Other salaries and wages came to $524.9m. At year end it held assets of $154.3m against liabilities of $111.3m, net assets of $43.0m. It reported 4,942 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.