Memorial Medical Center Foundation

Analysis

Memorial Medical Center Foundation is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in September 2014, 12 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 June 2023, Memorial Medical Center Foundation reported income of $9.7m and spending of $8.5m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $39.1m to $9.7m (-75%), an average of -30% a year. The sharpest change came in the year to June 2020, when income dropped by 61%. Over the whole period it spent 47% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Memorial Medical Center Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Children S Healing Center ($9.7m), Hawaii Public Health Institute ($9.7m) and Addison County Home Health & Hospice Inc ($9.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $262.9m against liabilities of $13.8m, net assets of $249.1m. It reported 15 employees.