Beacon Medical Group Inc

Analysis

Beacon Medical Group Inc is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in January 1983, 43 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, Beacon Medical Group Inc reported income of $187.6m and spending of $327.4m, spending 175% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $139.2m to $187.6m (+35%), an average of +7.7% a year. Over the whole period it spent 167% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Beacon Medical Group Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IN. Charities of a similar size with the same main cause include Covenant Medical Group ($187.1m), St Davids Foundation ($187.7m) and Henry Heywood Memorial Hospital ($186.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $798k (0.2% of expenses). Other salaries and wages came to $213.1m. At year end it held assets of $120.5m against liabilities of $30.6m, net assets of $89.9m. It reported 1,941 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.