Tapestry Health Systems Inc

Analysis

Tapestry Health Systems Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in September 1973, 53 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, Tapestry Health Systems Inc reported income of $14.5m and spending of $15.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.3m to $14.5m (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Tapestry Health Systems Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Seneca Hill Manor Inc Oswego Hospital ($14.5m), Tja Orthopedic Surgery PC ($14.5m) and Lahey Clinic Foundation Inc ($14.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $250k (1.7% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $5.8m against liabilities of $4.1m, net assets of $1.7m. It reported 140 employees.