Umass Memorial Health Care Inc

Analysis

Umass Memorial Health Care Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in July 2000, 26 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 September 2023, Umass Memorial Health Care Inc reported income of $3.73bn and spending of $3.58bn, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.85bn to $3.73bn (+31%), an average of +7.0% a year. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Umass Memorial Health Care Inc 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 MA. Charities of a similar size with the same main cause include North Shore University Hospital ($3.69bn), Texas Childrens Hospital ($3.83bn) and Baptist Healthcare System Inc ($3.69bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.2% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $21.2m (0.6% of expenses). Other salaries and wages came to $1.31bn. At year end it held assets of $2.01bn against liabilities of $1.00bn, net assets of $1.00bn. It reported 17,382 employees.