Medical Loan Closet of Wichita Inc

Analysis

Medical Loan Closet of Wichita Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in August 2016, 10 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Medical Loan Closet of Wichita Inc reported income of $741k and spending of $1.2m, spending 167% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $712k to $741k (+4.1%), an average of +1.0% a year. The sharpest change came in the year to December 2021, when income rose by 69%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Medical Loan Closet of Wichita Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within KS. Charities of a similar size with the same main cause include Health Hub SF ($741k), P G H Development Corporation ($741k) and Houlton Regional Health Services Foundation ($740k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. Other salaries and wages came to $9,500. At year end it held assets of $669k against liabilities of $338, net assets of $669k. It reported 1 employees.