Phelps Medical Services PC

Analysis

Phelps Medical Services PC is a registered charity in United States, based in Sleepy Hollow, NY. It received its IRS tax-exemption ruling in January 2014, 12 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Phelps Medical Services PC reported income of $93.8m and spending of $107.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $42.6m to $93.8m (+120%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 75%. Over the whole period it spent 109% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Phelps Medical Services PC sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Advocate Aurora Health Inc ($93.6m), Memorial Hospital ($93.9m) and Hospital Menonita Guayama Inc ($93.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 94% of the total. Other salaries and wages came to $71.3m. At year end it held assets of $16.1m against liabilities of $35.6m, net assets of -$19.5m. It reported 424 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.