Albany Med Health System

Analysis

Albany Med Health System is a registered charity in United States, based in Glens Falls, NY. It received its IRS tax-exemption ruling in March 2014, 12 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 (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2020, Albany Med Health System reported income of $346.5m and spending of $347.3m, spending 100% of its income. Across the 2 years on record, from December 2019 to December 2020, income fell from $347.8m to $346.5m (-0.4%), an average of -0.4% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Albany Med Health System sits at the 98th percentile: it is larger than about 98% of them. 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 Francis Medical Center Inc ($346.2m), Sonora Community Hospital ($346.7m) and RWJ Barnabas Health Inc ($346.0m).

On its Form 990 for the period ending December 2020, revenue came from contributions and grants 9.4% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $5.9m (1.7% of expenses). Other salaries and wages came to $141.7m. At year end it held assets of $356.1m against liabilities of $206.1m, net assets of $150.0m. It reported 2,752 employees.