Southcoast Physicians Group Inc

Analysis

Southcoast Physicians Group Inc is a registered charity in United States, based in Fairhaven, MA. It received its IRS tax-exemption ruling in December 1987, 39 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 September 2023, Southcoast Physicians Group Inc reported income of $277.4m and spending of $350.8m, spending 126% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $207.4m to $277.4m (+34%), an average of +7.5% a year. The sharpest change came in the year to September 2022, when income rose by 17%. Over the whole period it spent 130% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Southcoast Physicians Group Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Beloit Health System Inc ($277.2m), Southwest Volusia Healthcare Corporation ($277.8m) and Adventist Health Physicans Network ($277.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $4.0m (1.1% of expenses). Other salaries and wages came to $247.4m. At year end it held assets of $152.4m against liabilities of $152.4m, net assets of $0. It reported 1,959 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.