Promedica Monroe Cardiology PLLC

Analysis

Promedica Monroe Cardiology PLLC is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in April 2022, 4 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, Promedica Monroe Cardiology PLLC reported income of $625k and spending of $1.3m, spending 204% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $774k to $625k (-19%), an average of -10% a year. The sharpest change came in the year to December 2022, when income dropped by 19%. Over the whole period it spent 195% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promedica Monroe Cardiology PLLC sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within OH. Charities of a similar size with the same main cause include Childrens Medical Fund of New York ($625k), Project Access of New Haven Inc ($625k) and Coffee Memorial Blood Center Foundation ($624k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $998k. At year end it held assets of $175k against liabilities of $120k, net assets of $55k. It reported 8 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.