Sterling Health Solutions Inc

Analysis

Sterling Health Solutions Inc is a registered charity in United States, based in Mt Sterling, KY. It received its IRS tax-exemption ruling in August 2009, 17 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 May 2023, Sterling Health Solutions Inc reported income of $32.5m and spending of $28.8m, spending 88% of its income. Across the 4 years on record, from May 2020 to May 2023, income grew from $13.5m to $32.5m (+140%), an average of +34% a year. The sharpest change came in the year to May 2021, when income rose by 47%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Sterling Health Solutions Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Wakemed ($32.5m), Saint Lukes Hospital of Garnett Inc ($32.5m) and Arkansas Childrens Inc ($32.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 17% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $797k (2.8% of expenses). Other salaries and wages came to $15.0m. At year end it held assets of $23.1m against liabilities of $14.2m, net assets of $9.0m. It reported 264 employees.