Wellmont Cardiology Services

Analysis

Wellmont Cardiology Services is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Wellmont Cardiology Services reported income of $74.4m and spending of $75.4m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $52.2m to $74.4m (+43%), an average of +9.3% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellmont Cardiology Services sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TN. Charities of a similar size with the same main cause include Prairie Cardiovascular Consultants Ltd ($74.4m), Ranken-Jordan Home for Convalescent Crippled Children ($74.5m) and Texas Health Hospital Mansfield ($74.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $2.6m (3.4% of expenses). Other salaries and wages came to $50.4m. At year end it held assets of $10.3m against liabilities of $14.2m, net assets of -$3.9m. It reported 406 employees.