Multicare Health System

Analysis

Multicare Health System is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in May 1991, 35 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Multicare Health System reported income of $4.50bn and spending of $4.50bn, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.24bn to $4.50bn (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Multicare 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 WA. Charities of a similar size with the same main cause include Henry Ford Health System ($4.50bn), Ohiohealth Corporation ($4.52bn) and Kaiser Foundation Health Plan of Colorado ($4.29bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $11.7m (0.3% of expenses). Other salaries and wages came to $2.11bn. At year end it held assets of $6.11bn against liabilities of $3.22bn, net assets of $2.89bn. It reported 20,945 employees.