Northeast Medical Group Inc

Analysis

Northeast Medical Group Inc is a registered charity in United States, based in Stratford, CT. It received its IRS tax-exemption ruling in September 1993, 33 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, Northeast Medical Group Inc reported income of $622.0m and spending of $619.0m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $464.5m to $622.0m (+34%), an average of +7.6% a year. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Northeast Medical Group Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CT. Charities of a similar size with the same main cause include Young Mens Christian Association Retirement Fund ($606.4m), Memorial Health Care System Inc ($655.7m) and Elmhurst Memorial Healthcare ($573.7m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $2.0m (0.3% of expenses). Other salaries and wages came to $328.0m. At year end it held assets of $125.9m against liabilities of $113.3m, net assets of $12.6m. It reported 2,756 employees.