Genesis Healthcare System

Analysis

Genesis Healthcare System is a registered charity in United States, based in Zanesville, OH. It received its IRS tax-exemption ruling in December 1996, 30 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 2022, Genesis Healthcare System reported income of $610.5m and spending of $545.5m, spending 89% of its income. Across the 4 years on record, from December 2018 to December 2022, income grew from $438.9m to $610.5m (+39%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 22%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Genesis Healthcare System sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include Norton Healthcare Inc ($607.1m), Iowa Physicians Clinic Medical Foundation ($612.2m) and Sharp Chula Vista Medical Center ($606.7m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 4.2% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $8.6m (1.6% of expenses). Other salaries and wages came to $166.8m. At year end it held assets of $601.7m against liabilities of $372.1m, net assets of $229.6m. It reported 3,806 employees.