Quantum Health Care Associates Inc

Analysis

Quantum Health Care Associates Inc is a registered charity in United States, based in Hazard, KY. It received its IRS tax-exemption ruling in August 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 (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, Quantum Health Care Associates Inc reported income of $5.0m and spending of $5.5m, spending 111% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $5.8m to $5.0m (-15%), an average of -15% 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, Quantum Health Care Associates Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within KY. Charities of a similar size with the same main cause include Ambulance Inc of Laurel County ($5.0m), Believe in Tomorrow National Childrens Foundation Inc ($5.0m) and Queens-Long Island Renal Institute ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $116k (2.1% of expenses). Other salaries and wages came to $257k. At year end it held assets of $91k against liabilities of $26k, net assets of $65k. It reported 7 employees.