Chi St Vincent Medical Group Hot Springs

Analysis

Chi St Vincent Medical Group Hot Springs is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in April 2013, 13 years ago. 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, Chi St Vincent Medical Group Hot Springs reported income of $86.0m and spending of $106.4m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $76.2m to $86.0m (+13%), an average of +3.1% a year. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chi St Vincent Medical Group Hot Springs sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within AZ. Charities of a similar size with the same main cause include Hartford Healthcare Endowment LLC ($85.6m), St Thomas University Inc ($86.0m) and Rainforest Alliance Inc ($85.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $5.7m (5.3% of expenses). Other salaries and wages came to $63.2m. At year end it held assets of $77.2m against liabilities of $215.7m, net assets of -$138.5m. It reported 277 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.