Spectrum Health Service Inc

Analysis

Spectrum Health Service Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1967, 59 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Spectrum Health Service Inc reported income of $25.1m and spending of $22.1m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.5m to $25.1m (+101%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Spectrum Health Service Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include HSHS Holy Family Hospital Inc ($25.1m), Dyouville Senior Care Inc ($25.1m) and Southern California Medical Center Inc ($25.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $1.5m (7.0% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $36.5m against liabilities of $15.5m, net assets of $21.1m. It reported 157 employees.