Healthquarters Inc

Analysis

Healthquarters Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in April 1971, 55 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 June 2023, Healthquarters Inc reported income of $5.4m and spending of $4.5m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.0m to $5.4m (+35%), an average of +7.8% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 89% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Healthquarters Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within MA. Charities of a similar size with the same main cause include Two-6 Resources Inc ($5.4m), Channel Marker Inc ($5.4m) and Proverbs 18 10 Ministries Inc ($5.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $185k (4.1% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $5.7m against liabilities of $1.3m, net assets of $4.4m. It reported 34 employees.