Seacoast Health Systems Inc

Analysis

Seacoast Health Systems Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in October 1985, 41 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Seacoast Health Systems Inc reported income of $26.4m and spending of $28.2m, spending 107% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $56.2m to $26.4m (-53%), an average of -22% a year. The sharpest change came in the year to June 2020, when income dropped by 33%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seacoast Health Systems Inc 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 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Psalms Inc ($26.3m), Commquest Services Inc ($26.4m) and Gateway-Longview ($26.3m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 0.3% and program service revenue 100% of the total. Other salaries and wages came to $14.1m. At year end it held assets of $19.4m against liabilities of $23.0m, net assets of -$3.5m. It reported 495 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.