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The Texas Medical Center Corporation was formed and exists today exclusively for benevolent, charitable, and educational purposes to form the foundation and continuing support for a "City of Medicine." Since its inception in 1945, the Texas Medical Center Corporation has sought to attract nonprofit, academically oriented institutions dedicated to medical care, health care, education, and research. Its land, provided to the TMC institutions for nominal fees, must be dedicated to this purpose.
 
The Texas Medical Center Corporation oversees the common areas of the Texas Medical Center campus and provides infrastructure planning and development, including a maintenance program for the common areas, private roadway construction, parking structures, security and police services. In doing so, it functions much like a City Public Works Department for 52 institutions of the Texas Medical Center with 280 permanent buildings located on nearly 1,300 acres and 26 miles of public or private streets. It publishes a widely read newspaper, Texas Medical Center News, manages the John P. McGovern Campus, P.G. Bell Building and the John P. McGovern Texas Medical Center Commons.

The Texas Medical Center Corporation frequently coordinates center-wide efforts with METRO (Houston's public transportation), the City of Houston, Harris County, and as needed, state and federal governments. The corporation works with the Flood Control District and the Subsidence District, both County entities, to evaluate flooding risks and prepare strategies to minimize flooding's impact on the Texas Medical Center campus.

When viewed as a single entity, the Texas Medical Center institutions are the largest employer in Houston (92,500). Through its many activities on behalf of its institutions, the Texas Medical Center Corporation strives to provide whatever support and cooperation TMC institutions request to further the goals of encouraging the nonprofit, academic health care environment.

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