Hartford Health Care Corporation

Analysis

Hartford Health Care Corporation is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in December 1986, 40 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Hartford Health Care Corporation reported income of $748.1m and spending of $764.2m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $419.2m to $748.1m (+78%), an average of +16% a year. The sharpest change came in the year to September 2020, when income rose by 30%. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hartford Health Care Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CT. Charities of a similar size with the same main cause include Munson Medical Center ($746.6m), Howard Hughes Medical Institute ($749.0m) and Bellin Memorial Hospital Inc ($746.1m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 102% of the total. Compensation of current officers, directors and key employees was $29.7m (3.9% of expenses). Other salaries and wages came to $284.4m. At year end it held assets of $3.06bn against liabilities of $2.25bn, net assets of $808.8m. It reported 3,431 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.