Virtua Health Inc

Analysis

Virtua Health Inc is a registered charity in United States, based in Marlton, NJ. It received its IRS tax-exemption ruling in April 1998, 28 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, Virtua Health Inc reported income of $537.1m and spending of $545.8m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $512.4m to $537.1m (+4.8%), an average of +1.2% a year. The sharpest change came in the year to December 2023, when income rose by 20%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Virtua Health Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Greenwich Hospital ($536.7m), Parkview Medical Center Inc ($537.3m) and Legacy Salmon Creek Hospital ($535.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $6.6m (1.2% of expenses). Other salaries and wages came to $183.8m. At year end it held assets of $782.8m against liabilities of $1.10bn, net assets of -$312.4m. It reported 2,417 employees.