Albany Med Health System

Analysis

Albany Med Health System is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in March 2014, 12 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 (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Albany Med Health System reported income of $5.9m and spending of $5.3m, spending 90% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $18 to $5.9m (+32743156%), an average of +6792% a year. The sharpest change came in the year to December 2021, when income rose by 23153750%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Albany Med Health System sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within NY. Charities of a similar size with the same main cause include Neurotherapeutic Pediatrictherapies Inc ($5.9m), Center for Community Solutions ($5.9m) and Therapeutic Center at Fox Chase ($5.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 3.6% and program service revenue 96% of the total. Other salaries and wages came to $4.2m. At year end it held assets of $1.8m against liabilities of $378k, net assets of $1.4m. It reported 86 employees.