Foundation Medical Partners Inc

Analysis

Foundation Medical Partners Inc is a registered charity in United States, based in Nashua, NH. It received its IRS tax-exemption ruling in July 1993, 33 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Foundation Medical Partners Inc reported income of $125.3m and spending of $164.9m, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $93.8m to $125.3m (+34%), an average of +7.5% a year. The sharpest change came in the year to June 2020, when income rose by 25%. Over the whole period it spent 130% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Foundation Medical Partners Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NH. Charities of a similar size with the same main cause include Benefis Health System Inc ($125.3m), LMW Healthcare Inc ($125.3m) and Welia Health ($125.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.9m (1.1% of expenses). Other salaries and wages came to $91.1m. At year end it held assets of $57.1m against liabilities of $59.5m, net assets of -$2.4m. It reported 1,017 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.