Harvard Pilgrim Health Care Inc

Analysis

Harvard Pilgrim Health Care Inc is a registered charity in United States, based in Canton, MA. It received its IRS tax-exemption ruling in October 1969, 57 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Harvard Pilgrim Health Care Inc reported income of $2.23bn and spending of $2.27bn, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.81bn to $2.23bn (+24%), an average of +5.4% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Harvard Pilgrim Health Care Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include University of Maryland Medical System Corporation ($2.23bn), Uc Healthcare System ($2.26bn) and Southern Baptist Hospital of Florida Inc ($2.22bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.9% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $97k (0.0% of expenses). Other salaries and wages came to $110.3m. At year end it held assets of $1.11bn against liabilities of $497.4m, net assets of $614.0m. It reported 8 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.