Nova Institute for Health Inc

Analysis

Nova Institute for Health Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 2005, 21 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nova Institute for Health Inc reported income of $2.5m and spending of $2.9m, spending 117% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income fell from $5.6m to $2.5m (-56%), an average of -15% a year. The sharpest change came in the year to December 2023, when income rose by 171%. Over the whole period it spent 148% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Nova Institute for Health Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include Samaritan Counseling Center ($2.5m), Southern Berkshire Volunteer Ambulance Squad Inc ($2.5m) and Bateman Horne Center of Excellence Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $1.2m (41% of expenses). Other salaries and wages came to $373k. At year end it held assets of $12.1m against liabilities of $741k, net assets of $11.3m. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.