Premium Health Inc

Analysis

Premium Health Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in September 2010, 16 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 December 2023, Premium Health Inc reported income of $60.2m and spending of $51.9m, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.4m to $60.2m (+427%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 145%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Premium Health Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Waupun Memorial Hospital ($60.0m), Global Alliance for TB Drug Development Inc ($60.2m) and HR Physician Services ($60.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $4.1m (7.9% of expenses). Other salaries and wages came to $12.7m. At year end it held assets of $57.8m against liabilities of $45.6m, net assets of $12.3m. It reported 206 employees.