Devereux Foundation

Analysis

Devereux Foundation is a registered charity in United States, based in Villanova, PA. It received its IRS tax-exemption ruling in March 1941, 85 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Devereux Foundation reported income of $509.3m and spending of $521.4m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $497.5m to $509.3m (+2.4%), an average of +0.6% a year. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Devereux Foundation sits at the 98th 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 PA. Charities of a similar size with the same main cause include High Point Regional Health ($508.7m), Covenant Medical Center ($510.1m) and Bowling Green-Warren County Community Hospital Corporation ($508.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $6.0m (1.1% of expenses). Other salaries and wages came to $305.7m. At year end it held assets of $252.2m against liabilities of $247.7m, net assets of $4.6m. It reported 8,569 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.