Lahey Clinic Foundation Inc

Analysis

Lahey Clinic Foundation Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in October 1994, 32 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lahey Clinic Foundation Inc reported income of $14.5m and spending of $2.5m, leaving 83% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income fell from $19.3m to $14.5m (-25%), an average of -6.9% a year. The sharpest change came in the year to September 2021, when income rose by 703%. Over the whole period it spent 9.3% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lahey Clinic Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Achievement Center Inc ($14.5m), Seneca Hill Manor Inc Oswego Hospital ($14.5m) and Childrens Specialized Hospital Foundation Inc ($14.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 68% of the total. At year end it held assets of $960.5m against liabilities of $474.1m, net assets of $486.4m.