Memorial Health Services

Analysis

Memorial Health Services is a registered charity in United States, based in Fountain Vly, CA. It received its IRS tax-exemption ruling in March 2010, 16 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 June 2023, Memorial Health Services reported income of $422.1m and spending of $336.6m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $235.7m to $422.1m (+79%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Health Services sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Community Physicians of Indiana Inc ($420.0m), Washington Regional Medical Center ($422.2m) and Phelps Memorial Hospital Association ($419.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $24.3m (7.2% of expenses). Other salaries and wages came to $83.4m. At year end it held assets of $3.29bn against liabilities of $2.41bn, net assets of $873.7m. It reported 1,167 employees.