Spectrum Health Care Inc

Analysis

Spectrum Health Care Inc is a registered charity in United States, based in Jersey City, NJ. It received its IRS tax-exemption ruling in August 1984, 42 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 June 2024, Spectrum Health Care Inc reported income of $7.4m and spending of $6.0m, spending 80% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.5m to $7.4m (+113%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spectrum Health Care Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NJ. Charities of a similar size with the same main cause include University of Maryland Orthopaedic Trauma Associates P a ($7.4m), Chordoma Foundation ($7.4m) and Southwest Washington Regional Health Alliance ($7.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 24% and program service revenue 74% of the total. Other salaries and wages came to $3.8m. At year end it held assets of $4.8m against liabilities of $27k, net assets of $4.8m. It reported 77 employees.