Somc Medical Care Foundation Inc

Analysis

Somc Medical Care Foundation Inc is a registered charity in United States, based in Portsmouth, OH. It received its IRS tax-exemption ruling in April 2006, 20 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 June 2023, Somc Medical Care Foundation Inc reported income of $53.7m and spending of $104.7m, spending 195% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $37.2m to $53.7m (+45%), an average of +9.7% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 190% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Somc Medical Care Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Clinica de Salud Del Valle de Salinas ($53.7m), Russellville Hospital Inc ($53.7m) and North Mississippi Primary Health Care Inc ($53.6m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $45.8m. At year end it held assets of $16.7m against liabilities of $19.3m, net assets of -$2.6m. It reported 244 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.