Tapestry 360 Health

Analysis

Tapestry 360 Health is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1993, 33 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 June 2023, Tapestry 360 Health reported income of $39.4m and spending of $39.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.5m to $39.4m (+48%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 33%. 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, Tapestry 360 Health 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 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include Fairfield Healthcare Professionals Inc ($39.3m), Citrus Research and Development Foundation Inc ($39.4m) and Camillus House Inc ($39.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $670k (1.7% of expenses). Other salaries and wages came to $18.7m. At year end it held assets of $19.0m against liabilities of $9.9m, net assets of $9.1m. It reported 334 employees.