Northwell Healthcare Inc

Analysis

Northwell Healthcare Inc is a registered charity in United States, based in Westbury, NY. It received its IRS tax-exemption ruling in March 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Northwell Healthcare Inc reported income of $2.46bn and spending of $2.19bn, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.65bn to $2.46bn (+49%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 30%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Northwell Healthcare 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 NY. Charities of a similar size with the same main cause include St Lukes Regional Medical Center ($2.46bn), Froedtert Memorial Lutheran Hospital Inc ($2.48bn) and Childrens Health System of Texas ($2.44bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $28.0m (1.3% of expenses). Other salaries and wages came to $824.0m. At year end it held assets of $6.72bn against liabilities of $6.45bn, net assets of $272.5m. It reported 10,014 employees.