Swedish Covenant Health

Analysis

Swedish Covenant Health is a registered charity in United States, based in Arlington HTS, IL. It received its IRS tax-exemption ruling in January 1996, 30 years ago. 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, Swedish Covenant Health reported income of $352.3m and spending of $336.1m, spending 95% of its income. Across the 4 years on record, from September 2021 to December 2023, income grew from $302.8m to $352.3m (+16%), an average of +5.2% a year. The sharpest change came in the year to December 2022, when income rose by 296%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Swedish Covenant Health sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IL. Charities of a similar size with the same main cause include Seattle University ($349.9m), American Kidney Fund Inc ($352.9m) and Population Services International ($349.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.5m (0.7% of expenses). Other salaries and wages came to $128.7m. At year end it held assets of $430.5m against liabilities of $226.2m, net assets of $204.3m. It reported 2,496 employees.