Spectrum Health Systems Inc

Analysis

Spectrum Health Systems Inc is a registered charity in United States, based in Westborough, MA. It received its IRS tax-exemption ruling in September 1971, 55 years ago. Its declared purposes cover mental health and crisis intervention, 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, Spectrum Health Systems Inc reported income of $110.9m and spending of $85.5m, leaving 23% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $75.3m to $110.9m (+47%), an average of +10% a year. Over the whole period it spent 82% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spectrum Health Systems Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Sac Health System ($110.8m), Baylor Scott & White Holdings ($111.0m) and Penn State Health Hampden Medical Center ($110.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $3.1m (3.6% of expenses). At year end it held assets of $134.5m against liabilities of $17.6m, net assets of $117.0m. It reported 1,694 employees.