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 $249.6m and spending of $245.7m, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $201.8m to $249.6m (+24%), an average of +7.4% a year. Over the whole period it spent 99% 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 97th percentile: it is larger than about 97% 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 Meadville Medical Center ($249.6m), St Luke S Hospital- Grand View Campus ($250.0m) and Sun Coast Nursing Centers Inc ($249.5m).

On its Form 990 for the period ending December 2022, 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 $5.2m (2.1% of expenses). Other salaries and wages came to $99.7m. At year end it held assets of $349.9m against liabilities of $316.2m, net assets of $33.7m. It reported 1,828 employees.