Monmouth Medical Center Faculty Practice Plan Inc

Analysis

Monmouth Medical Center Faculty Practice Plan Inc is a registered charity in United States, based in Oceanport, NJ. It received its IRS tax-exemption ruling in August 1995, 31 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 December 2023, Monmouth Medical Center Faculty Practice Plan Inc reported income of $5.0m and spending of $17.8m, spending 357% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.3m to $5.0m (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 349% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Monmouth Medical Center Faculty Practice Plan 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 93rd percentile within NJ. Charities of a similar size with the same main cause include Hhuny Inc ($5.0m), St Andrew Community Medical Center Inc ($5.0m) and Project H O P E Inc ($5.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $2.1m. At year end it held assets of $2.1m against liabilities of $199.9m, net assets of -$197.8m. It reported 129 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.