South Cove Community Health Center Inc

Analysis

South Cove Community Health Center Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in August 1972, 54 years ago. 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, South Cove Community Health Center Inc reported income of $52.8m and spending of $35.4m, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $40.1m to $52.8m (+32%), an average of +7.1% a year. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, South Cove Community Health Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within MA. Charities of a similar size with the same main cause include Affinia Healthcare ($52.8m), Ross Education Holdings Inc ($52.9m) and Medstar Health Research Institute Inc ($52.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $974k (2.8% of expenses). Other salaries and wages came to $20.6m. At year end it held assets of $147.1m against liabilities of $8.8m, net assets of $138.3m. It reported 286 employees.