The Wallace Medical Concern

Analysis

The Wallace Medical Concern is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in July 1984, 42 years ago. 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 June 2023, The Wallace Medical Concern reported income of $12.7m and spending of $11.2m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.6m to $12.7m (+94%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Wallace Medical Concern sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within OR. Charities of a similar size with the same main cause include Eagle Village Inc ($12.7m), Community Action Agency of St Louis County Inc ($12.7m) and Mercy Health Foundation Ada ($12.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $783k (7.0% of expenses). Other salaries and wages came to $5.4m. At year end it held assets of $12.4m against liabilities of $5.8m, net assets of $6.7m. It reported 100 employees.