Virtua Medical Group Pa

Analysis

Virtua Medical Group Pa is a registered charity in United States, based in Marlton, NJ. It received its IRS tax-exemption ruling in August 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 December 2023, Virtua Medical Group Pa reported income of $460.3m and spending of $587.0m, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $196.6m to $460.3m (+134%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 52%. Over the whole period it spent 128% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Virtua Medical Group Pa sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include San Antonio Regional Hospital ($459.8m), Camden-Clark Memorial Hospital Corporation ($461.7m) and Main Line Healthcare ($459.6m).

On its Form 990 for the period ending December 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 $6.3m (1.1% of expenses). At year end it held assets of $209.7m against liabilities of $137.8m, net assets of $71.9m. It reported 3,221 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.