CHMC Cardiovascular Surgical Foundation Incorporated

Analysis

CHMC Cardiovascular Surgical Foundation Incorporated is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in November 1983, 43 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 September 2023, CHMC Cardiovascular Surgical Foundation Incorporated reported income of $32.2m and spending of $28.2m, spending 88% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $20.7m to $32.2m (+55%), an average of +12% a year. The sharpest change came in the year to September 2023, when income rose by 49%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, CHMC Cardiovascular Surgical Foundation Incorporated sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Emmaus Homes Inc ($32.1m), Northeast Florida Area Agency on Aging Inc ($32.2m) and Crown College ($32.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 90% of the total. Compensation of current officers, directors and key employees was $10.2m (36% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $48.1m against liabilities of $11.3m, net assets of $36.8m. It reported 8 employees.