Tower Health

Analysis

Tower Health is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in October 1997, 29 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 June 2023, Tower Health reported income of $531.6m and spending of $619.8m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $599.3m to $531.6m (-11%), an average of -3.0% a year. Over the whole period it spent 125% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Tower Health 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 PA. Charities of a similar size with the same main cause include Tidalhealth Peninsula Regional Inc ($527.7m), Group Health Cooperative of South Central Wi ($531.6m) and Commonspirit Mountain Region ($527.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $1.8m (0.3% of expenses). Other salaries and wages came to $194.3m. At year end it held assets of $1.71bn against liabilities of $1.62bn, net assets of $90.0m. It reported 4,985 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.