Cedars-Sinai Medical Care Foundation

Analysis

Cedars-Sinai Medical Care Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cedars-Sinai Medical Care Foundation reported income of $727.9m and spending of $847.8m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $442.4m to $727.9m (+65%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 119% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Cedars-Sinai Medical Care Foundation 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 Heartland Regional Medical Center ($727.8m), Dialysis Clinic Inc ($728.1m) and Mercy Hospital Oklahoma City Inc ($724.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $838k (0.1% of expenses). Other salaries and wages came to $144.7m. At year end it held assets of $543.3m against liabilities of $225.1m, net assets of $318.2m. It reported 2,198 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.