Chesapeake Regional Medical Group

Analysis

Chesapeake Regional Medical Group is a registered charity in United States, based in Chesapeake, VA. It received its IRS tax-exemption ruling in January 2011, 15 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Chesapeake Regional Medical Group reported income of $18.0m and spending of $34.6m, spending 192% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.1m to $18.0m (+124%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 34%. Over the whole period it spent 199% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Chesapeake Regional Medical Group sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Finger Lakes Performing Provider System Inc ($18.0m), Board of Directors of the Rouse Estate ($18.0m) and Houchin Community Blood Bank ($18.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 95% of the total. Other salaries and wages came to $22.9m. At year end it held assets of $11.2m against liabilities of $105.3m, net assets of -$94.0m. It reported 274 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.