Independence Care System Inc

Analysis

Independence Care System Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1998, 28 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 December 2023, Independence Care System Inc reported income of $13.5m and spending of $14.9m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.4m to $13.5m (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2020, when income rose by 53%. Over the whole period it spent 103% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Independence Care System Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Steuben Churchpeople Against Poverty Inc ($13.5m), Continuecare Hospital at Baptist Health LLC ($13.6m) and Baim Institute for Clinical Research Inc ($13.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $600k (4.0% of expenses). Other salaries and wages came to $8.6m. At year end it held assets of $12.4m against liabilities of $6.6m, net assets of $5.8m. It reported 139 employees.