Fishing Partnership Health Plan Corporation

Analysis

Fishing Partnership Health Plan Corporation is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in November 2000, 26 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, Fishing Partnership Health Plan Corporation reported income of $4.1m and spending of $4.2m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.2m to $4.1m (+88%), an average of +17% a year. The sharpest change came in the year to September 2021, when income rose by 44%. Over the whole period it spent 104% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Fishing Partnership Health Plan Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Sunshine Kids Foundation ($4.1m), Open Door Living Association Inc ($4.1m) and Resource Center for the Chemically Dependent Inc ($4.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 97% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $307k (7.4% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.6m against liabilities of $473k, net assets of $1.1m. It reported 28 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.