In this article, we will be taking a look at the 20 biggest nonprofit companies in the U.S. To skip our detailed analysis, you can go directly to see the 5 biggest nonprofit companies in the U.S.
While the primary responsibility of taking care of residents lies on the state and federal government in the U.S., nonprofit companies step in to help out in areas where the government is unable to provide assistance. While America is easily the biggest economy in the world, with some states boasting a GDP bigger than most countries in the world, it is also home to significant income inequality, which means that while the U.S. may be the country with the most billionaires in the world, it also has a large percentage of the population (nearly 12% according to the U.S. Census Bureau), living in poverty. This equates to 38 million people. In fact, for the first time since 2011, income inequality increased in 2021, and a large part of that was due to the pandemic.
Rawpixel.com/Shutterstock.com
According to Inequality.org, the wealth of billionaires increased by 50% since the pandemic, an increase of over $1.5 trillion. This is despite a fall in the net worth of most billionaires in 2022 after stocks plummeted with the ultimate high being achieved in October 2021, when the combined net worth of billionaires hit $5.1 trillion, as opposed to nearly $4.5 trillion towards the end of 2022. On the positive side, the ultrawealthy are giving more to charity than ever before. Surprisingly, even though there is a greater focus on charity now, charity giving has been on an overall decline in terms of numbers of households from 2000 to 2018, even though the absolute number continues to increase because of the wealthy donating more.
Non-profit organizations are extremely important to the development of society and improvement in the standards of living for those less fortunate, with almost 1.5 million nonprofit companies operating in the United States, of which the biggest nonprofit companies in the U.S. earning hundreds of millions, or even billions in revenue each year, while receiving tens of billions of dollars in private donations cumulatively. Nonprofit companies are engaged in several fields, from providing food and shelter to the poor and needy, to upskilling people or providing help to vulnerable people.
Apart from private individuals and groups, most companies also donate significant amounts each year. There are various reasons for this, with one of the biggest being that environmental, social and governance (ESG) is now a big factor for investors and donations are one of the ways for companies to give back to society and helps improve the company’s reputation as well. However, this has to be balanced with profits and returns to shareholders too as demands for better returns continue to increase. Some of the biggest companies in the world are also among the most charitable companies in 2022, which include Wells Fargo & Company (NYSE:WFC), Microsoft Corporation (NASDAQ:MSFT), The Goldman Sachs Group, Inc. (NYSE:GS), The Goldman Sachs Group, Inc. (NYSE:GS), Novo Nordisk A/S (NYSE:NVO) and Walmart Inc. (NYSE:WMT).
The biggest nonprofit companies in the U.S. earned total revenue of $114 billion, while their total private donations received were close to $30 billion. To determine our list, we calculated the rank of the top 100 nonprofit companies in America, based on their total revenue, and total private donations received. We then assigned 70% weightage to revenue and 30% weightage to private donations received. So now, let’s look at the companies aiming to make the U.S. not just the richest but also maintain its rank as the best country to live in the future, starting with:
20. World Vision
Total private donations (in billions): $0.9
Total revenue (in billions): $1.3
The Christian humanitarian aid foundation is one of the biggest relief and development organizations in the country. The U.S. branch of World Vision serves over 4.1 million people annually in addition to distributing 57,000 pallets of supplies worth more than $100 million.
19. Dana-Farber Cancer Institute
Total private donations (in billions): $0.5
Total revenue (in billions): $2.4
There are plenty of institutes working for supporting those with cancer in our list of the biggest nonprofit companies in the U.S. The Boston-based Dana-Farber Cancer Institute was founded in 1947 and has over 6,000 employees with a faculty of nearly 500 people. Over the last 10 years, 25% of all FDA-approved cancer drugs were developed in part with Dana-Farber
18. Americares
Total private donations (in billions): $1.2
Total revenue (in billions): $1.2
Americares provides support services to those affected by disasters, crisis or poverty. Currently, Americares supports more than 4,000 health centers in the country and other countries as well and in the next 10 years, aims to increase the number of support health centers to more than 5,000 and an increase in 8-12% in medicines and supplies delivered.
17. Nature Conservancy
Total private donations (in billions): $0.9
Total revenue (in billions): $1.8
The global environmental organization has branched in nearly 80 countries and has a presence in every state in the U.S., and has over a million members. Currently, Nature Conservancy operates over 100 marine conservation projects, has over 400 scientists on staff and protected over 125 million acres of land.
16. Good360
Total private donations (in billions): $1.7
Total revenue (in billions): $1.7
Good360 works with companies to responsibly distribute excess goods for the maximum possible impact, from toys to home goods to mattresses and more. To date, the organization has distributed products worth more than $14 billion and has over 100,000 nonprofit members and over 400 corporate donors.
15. Habitat for Humanity International
Total private donations (in billions): $1.3
Total revenue (in billions): $2.1
Habitat for Humanity International is a Christian organization with operations in 70 countries. The organization has been involved in helping more than 35 million people since its inception in constructing, rehabilitating or preserving homes. Ex-U.S. President Jimmy Carter was known for his involvement with the organization in 2014.
14. American National Red Cross
Total private donations (in billions): $0.8
Total revenue (in billions): $3.4
The designated U.S. affiliate of the International Federation of Red Cross and Red Crescent Solutions, American Red Cross responds to an emergency every 8 minutes. Established over 140 years ago, the organization responds to 60,000 disasters every single year while 95% of its disaster relief work is carried out by volunteers, with home fires making up the majority of disasters that the company responds to.
13. Direct Relief
Total private donations (in billions): $2.2
Total revenue (in billions): $2.2
Direct Relief has made its mark among the biggest nonprofit companies in the U.S., which is active not just in all 50 states in the country but is also active in 80 countries. The company also obtained a 100% fundraising efficiency rating from Forbes. 0% donations are spent on fundraising, while the organization also obtains 0% of government funding and 100% of donations provided for specific emergencies are devoted entirely to those emergencies.
12. Boys & Girls Clubs of America
Total private donations (in billions): $1.2
Total revenue (in billions): $2.5
Boys & Girls Clubs of America provides millions of kids across the country with after-school programs, aiming to deliver safer childhoods, caring mentors and life-enhancing programs.
11. Memorial Sloan Kettering Cancer Center
Total private donations (in billions): $0.6
Total revenue (in billions): $7.7
Memorial Sloan Kettering Cancer Center has been ranked in the top two best hospitals for cancer every single year since 1990, with several locations available across both New York and New Jersey. In 2021, over 420,000 foundations, companies, families and individuals made over 600,000 donations and raised over $600 million for cancer care, education and research.
10. St. Jude Children’s Research Hospital
Total private donations (in billions): $2.4
Total revenue (in billions): $2.3
St. Jude Children’s Research Hospital was established to treat the toughest cancers and diseases in children. Not only is treatment free thanks to donations, families don’t even receive a bill for food, housing or travel. Every year, over 8,000 patients are treated with 77 beds available, making it one of the biggest pediatric cancer research hospitals in the world. With treatment for pediatric cancer taking years and costing an average of $425,000 with some treatment costs even exceeding $1 million.
9. Catholic Charities USA
Total private donations (in billions): $1.0
Total revenue (in billions): $4.7
Catholic Charities USA was established well over a century ago and helps millions of people in the country every single year.
8. Mount Sinai Health Systems
Total private donations (in billions): $0.7
Total revenue (in billions): $9.2
Mount Sinai Health Systems is a network of hospitals headquartered in New York City. Currently, Mount Sinai Health Systems has over 42,000 employees while its network includes over 7,200 physicians and 13 free-standing joint ventures in addition to 400 ambulatory practice locations.
7. Lutheran Services in America
Total private donations (in billions): $0.6
Total revenue (in billions): $23.3
Lutheran Services in America is one of the biggest nonprofit organizations in the U.S. and maintains a network of over 300 health and human services organizations across the nation. Founded just 25 years ago, the nonprofit’s network is worth over $23 billion and in terms of revenue, is the highest earning nonprofit company in the country.
6. Mayo Clinic
Total private donations (in billions): $0.8
Total revenue (in billions): $19.8
Mayo Clinic is one of the most famous nonprofit companies not just in the U.S. but in the world. The Mayo Clinic has several locations in various states including Florida, Arizona and Minnesota where over 1.3 million people are treated every year from 130 countries. The Mayo Clinic is known for its research on rare cases as well including some of the toughest medical problems globally.
Click to continue reading and see the 5 biggest nonprofit companies in the US.
Suggested articles:
- 15 Countries with Highest Inflation Rates
- 20 Most Important Companies in the World
- 10 Most Promising Metaverse Stocks to Buy
Disclosure: None. 20 biggest nonprofit companies in the US is originally published at Insider Monkey.
