Healthnetwork Foundation

Analysis

Healthnetwork Foundation is a registered charity in United States, based in Pepper Pike, OH. It received its IRS tax-exemption ruling in August 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Healthnetwork Foundation reported income of $12.1m and spending of $5.6m, leaving 54% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.5m to $12.1m (+87%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 45%. Over the whole period it spent 44% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Healthnetwork Foundation 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 96th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include Claremont House Inc ($12.1m), Family Services Inc ($12.2m) and Boulder Jewish Community Center ($12.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $627k (11% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $58.6m against liabilities of $3.0m, net assets of $55.6m. It reported 24 employees.