Wellmont Medical Associates Inc

Analysis

Wellmont Medical Associates Inc is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in April 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 (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, Wellmont Medical Associates Inc reported income of $135.9m and spending of $140.4m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $158.1m to $135.9m (-14%), an average of -3.7% a year. The sharpest change came in the year to June 2020, when income dropped by 22%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellmont Medical Associates Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TN. Charities of a similar size with the same main cause include Trinity Health ($135.8m), Hospital for Special Care ($136.0m) and Texas Health Presbyterian Hospital Allen ($135.7m).

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 $1.9m (1.4% of expenses). Other salaries and wages came to $76.1m. At year end it held assets of $25.5m against liabilities of $21.6m, net assets of $3.9m. It reported 976 employees.