Community Memorial Health System

Analysis

Community Memorial Health System is a registered charity in United States, based in Ventura, CA. It received its IRS tax-exemption ruling in August 1933, 93 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, Community Memorial Health System reported income of $620.1m and spending of $620.4m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $503.5m to $620.1m (+23%), an average of +5.3% a year. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Community Memorial Health System sits at the 99th percentile: it is larger than about 99% 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 Saint Joseph Hospital ($617.0m), Mymichigan Medical Center Midland ($620.5m) and SVMC Holdings Inc ($616.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $7.4m (1.2% of expenses). Other salaries and wages came to $214.2m. At year end it held assets of $901.7m against liabilities of $517.3m, net assets of $384.4m. It reported 3,159 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.