Promedica Childrens Specialists

Analysis

Promedica Childrens Specialists is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in October 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Promedica Childrens Specialists reported income of $8.2m and spending of $18.0m, spending 219% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $6.5m to $8.2m (+27%), an average of +13% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 220% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promedica Childrens Specialists sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include Sunflower Foundation Health Care for Kansans ($8.2m), University at Buffalo Pathologists PC ($8.2m) and Heywood Medical Group Inc ($8.2m).

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 $12.1m. At year end it held assets of $1.3m against liabilities of $14.0m, net assets of -$12.7m.

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.