Memorial Health System

Analysis

Memorial Health System is a registered charity in United States, based in Springfield, IL. It received its IRS tax-exemption ruling in April 2010, 16 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Memorial Health System reported income of $1.51bn and spending of $1.56bn, spending 103% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.05bn to $1.51bn (+44%), an average of +9.5% a year. The sharpest change came in the year to September 2020, when income rose by 31%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Health System sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IL. Charities of a similar size with the same main cause include Mount Carmel Health System ($1.38bn), University of Delaware ($1.52bn) and MHM Support Services ($1.38bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.6% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $11.3m (0.7% of expenses). Other salaries and wages came to $570.6m. At year end it held assets of $1.86bn against liabilities of $628.6m, net assets of $1.23bn. It reported 10,734 employees.