Memorial Health Systems Inc
90% goes to programs $0 to raise $100 Strong reserves Growing revenue
Memorial Health Systems Inc is a 501(c)(3) organization based in Daytona Beach, Florida, registered in 1968, with $785,818,974 in FY2024 revenue. CharityIndex grades it A+, and it directs about 90% of spending to programs.
301 Memorial Medical Pkwy, Daytona Beach, FL, 32117 EIN 59-0973502 Since 1968
Revenue (FY2024)
$785.8M
▲ 18.0% vs prior year
Health median: $840K
Expenses (FY2024)
$690.4M
Net assets
$541.2M
Employees
4,314
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating90% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Memorial Health Systems Inc: 90% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating9 mo reserves · +12% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Memorial Health Systems Inc: 9 mo reserves · +12% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Memorial Health Systems Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Memorial Health Systems Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Medical care to the community through the operation of a hospital with a total of 362 beds.
Contact & location
- Address
- 301 Memorial Medical Pkwy, Daytona Beach, FL, 32117
- City
- Daytona Beach
- State
- Florida
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $255.6M (FY2013) to $785.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $211.1MNet assets $541.2M
Operating margin
12.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$752.3M
Total liabilities
$211.1M
Net assets
$541.2M
Salaries & benefits
$184.9M
27% of expenses
Board members
16
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $785,818,974▲18.0% | $690,379,641▲14.2% | $541,193,322▲20.7% | $752,259,114▲13.4% | 990 |
| 2023 | $665,936,146▲22.5% | $604,329,353▲11.1% | $448,511,104▲18.3% | $663,451,885▲19.0% | 990 |
| 2022 | $543,759,757▲3.4% | $543,958,755▲11.5% | $379,019,149▼10.5% | $557,347,310▼8.9% | 990 |
| 2021 | $526,048,604▲19.0% | $487,877,213▲17.3% | $423,256,914▲8.4% | $611,778,295▲5.9% | 990 |
| 2020 | $441,932,450▲4.2% | $415,926,700▲8.1% | $390,409,700▲6.3% | $577,707,316▲7.4% | 990 |
| 2019 | $424,074,885▲9.4% | $384,672,038▲7.0% | $367,173,321▲14.3% | $537,666,640▲11.3% | 990 |
| 2018 | $387,793,833▲7.3% | $359,401,205▲7.1% | $321,243,318▲1.2% | $483,170,237▲0.7% | 990 |
| 2017 | $361,481,391▲11.7% | $335,514,384▲10.4% | $317,297,921▲7.8% | $479,867,438▲3.9% | 990 |
| 2016 | $323,693,281▲6.1% | $303,936,863▲8.3% | $294,265,146▲2.5% | $461,959,647▲0.7% | 990 |
| 2015 | $305,126,597▲8.9% | $280,704,214▲7.3% | $287,213,331▲1.7% | $458,612,239 | 990 |
| 2014 | $280,283,603▲9.7% | $261,637,252▲6.0% | $282,422,496▲6.9% | $458,716,532▲5.2% | 990 |
| 2013 | $255,596,080 | $246,775,266▲2.9% | $264,102,492▲4.5% | $435,916,188▼1.0% | 990 |
| 2012 | — | $239,934,948▲1.8% | $252,679,605▲3.6% | $440,515,926▲1.5% | 990 |
| 2011 | — | $235,718,328▲0.5% | $243,865,494▲0.1% | $434,016,611▼0.6% | 990 |
| 2010 | — | $234,444,095 | $243,617,668 | $436,644,817 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Brown Md Douglas — $350,471 (0.05% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Brown Md Douglas | Executive Med Director-rev Cycle | 50 | $350,471 |
| Keyes Md Michael | Executive Med Director-rev Cycle | 50 | $339,786 |
| Paz Md George | Executive Med Director-rev Cycle | 50 | $322,302 |
| Dorr John | Regional Director-medical Physicist | 50 | $295,881 |
| Collins William | Senior Medical Physicist Therapy | 50 | $283,325 |
| Patel Md Ketul | Director/chief of Staff | 3.3 | $24,310 |
| Adams John | Director | 0.2 | $310 |
| Arocho Md James | Director | 0.1 | $310 |
| Burt David | Director | 0.2 | $310 |
| Ceballos Gloria | Director | 0.2 | $310 |
| Dawson Melinda | Director (end 12/2024) | 0.1 | $310 |
| Desai Md Meteesh | Director (end 12/2024) | 0.1 | $310 |
| Ferguson John | Director | 0.2 | $310 |
| Hooper Andrea | Director | 0.2 | $310 |
| Hosseini Nika | Director (beg 02/2024) | 0.1 | $310 |
| Maroney Philip | Director | 0.2 | $310 |
| Celano Patricia | Former Key Employee | 0 | — |
| Chapman Cully | Former Officer | 0 | — |
| Desai Md Suresh | Director | 0.2 | — |
| Domayer Cory | Cfo - Hospital Facility | 45 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| The Robins and Morton Group | Construction Services | $4,451,546 |
| Hunton Brady Architects PA | Architect Services | $4,226,139 |
| Amn Healthcare Inc | Agency Labor | $3,175,429 |
| Brown Parker & Demarinis Advertising Inc | Marketing and Advertising | $3,115,229 |
| Crothall Healthcare Inc | Biomedical Services | $2,714,468 |
Grants received · $20.1M total
11 grants to Memorial Health Systems Inc totaling $20.1M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Florida Essential Healthcare Partnerships Foundation Inc | — | 2024 | $16,393,000 |
| American Cancer Society Inc | Patient support | 2024 | $15,000 |
| Florida Essential Healthcare Partnerships Foundation Inc | — | 2023 | $766,000 |
| Adventist Health System Sunbelt Healthcare Corporation | General support | 2023 | $70,018 |
| Florida Essential Healthcare Partnerships Foundation Inc | — | 2022 | $1,452,572 |
| Adventist Health System Sunbelt Inc | General support | 2020 | $557,216 |
| Adventist Health System Sunbelt Healthcare Corporation | Creation health-community care network | 2016 | $378,889 |
| American Cancer Society Inc | Colorectal education and health | 2016 | $7,500 |
| Adventist Health System Sunbelt Healthcare Corporation | Creation health-community care network | 2015 | $228,889 |
| Adventist Health System Sunbelt Healthcare Corporation | Creation health-community care network | 2014 | $217,222 |
| Patient Access Network Foundation | Patient assistance | 2014 | $36,887 |
Grants made · $803K in FY2024
4 grants totaling $803K in FY2024. All grants made by Memorial Health Systems Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Memorial Health Systems Foundation Inc | Provision of general administrative support | $326,116 |
| Adventhealth University Inc | General support | $300,000 |
| Daytona State College Foundation Inc | General support | $126,545 |
| First Step Shelter Inc | General support | $50,000 |
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Frequently asked questions
- Is Memorial Health Systems Inc a legitimate nonprofit?
- Yes. Memorial Health Systems Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 59-0973502, based in Daytona Beach, Florida. Donations are tax-deductible.
- What is Memorial Health Systems Inc's EIN?
- Memorial Health Systems Inc's Employer Identification Number (EIN) is 59-0973502.
- How much revenue does Memorial Health Systems Inc report?
- Memorial Health Systems Inc reported $785,818,974 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Memorial Health Systems Inc's spending goes to programs?
- Memorial Health Systems Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Memorial Health Systems Inc have?
- CharityIndex grades Memorial Health Systems Inc A+, based on program efficiency and fundraising cost.
- How much does Memorial Health Systems Inc's highest-paid employee make?
- The highest reported compensation on Memorial Health Systems Inc's latest Form 990 is $350,471, paid to Brown Md Douglas (Executive Med Director-rev Cycle).
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Data for Memorial Health Systems Inc (EIN 59-0973502) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.