Adventist Physician Services Inc

Analysis

Adventist Physician Services Inc is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in April 1947, 79 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Adventist Physician Services Inc reported income of $29.4m and spending of $47.6m, spending 162% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.3m to $29.4m (+364%), an average of +47% a year. The sharpest change came in the year to December 2020, when income rose by 110%. Over the whole period it spent 170% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adventist Physician Services Inc 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 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Mary Ann Morse Healthcare Corp ($29.4m), Jewish Family and Childrens Service ($29.4m) and Boston Athletic Assoc ($29.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Other salaries and wages came to $32.3m. At year end it held assets of $5.1m against liabilities of $137.1m, net assets of -$132.0m.

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.