Albany Med Health System

Analysis

Albany Med Health System is a registered charity in United States, based in Albany, 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 2022, Albany Med Health System reported income of $10.8m and spending of $10.1m, spending 93% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $12.9m to $10.8m (-16%), an average of -5.6% a year. The sharpest change came in the year to December 2020, when income dropped by 18%. Over the whole period it spent 89% 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 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Regional West Garden County ($10.8m), Washington Regional Medicorp ($10.8m) and Acog Foundation ($10.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 2.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $807k (8.0% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $4.2m against liabilities of $899k, net assets of $3.3m. It reported 136 employees.