Lahey Health Shared Services Inc

Analysis

Lahey Health Shared Services Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in February 1994, 32 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Lahey Health Shared Services Inc reported income of $10.1m and spending of $9.2m, spending 91% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $204.0m to $10.1m (-95%), an average of -53% a year. The sharpest change came in the year to September 2023, when income dropped by 83%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lahey Health Shared Services Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Waverly Care Associates ($10.1m), Acumen Counseling Services Inc ($10.1m) and The Osborn Family Health Center Inc ($10.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 91% of the total. Other salaries and wages came to $7.4m. At year end it held assets of $44.7m against liabilities of $44.7m, net assets of -$1,080. It reported 1,066 employees.