Memorial Sloan-Kettering Cancer Center

Analysis

Memorial Sloan-Kettering Cancer Center is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1962, 64 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, Memorial Sloan-Kettering Cancer Center reported income of $7.46bn and spending of $7.19bn, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.56bn to $7.46bn (+34%), an average of +7.6% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Sloan-Kettering Cancer Center 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 NY. Charities of a similar size with the same main cause include Mayo Clinic ($7.08bn), Hackensack Meridian Health Inc ($7.47bn) and RWJ Barnabas Health Inc ($7.07bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.8% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $51.0m (0.7% of expenses). Other salaries and wages came to $2.88bn. At year end it held assets of $14.66bn against liabilities of $5.42bn, net assets of $9.24bn. It reported 25,365 employees.