Packard Health Inc

Analysis

Packard Health Inc is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in April 1980, 46 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 August 2023, Packard Health Inc reported income of $12.6m and spending of $12.6m, spending 100% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $9.0m to $12.6m (+39%), an average of +8.6% a year. The sharpest change came in the year to August 2020, when income rose by 65%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Packard Health Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Planned Parenthood of Metropolitan New Jersey Inc ($12.6m), Carepoint Response Inc ($12.6m) and Physician Associates of Southwest Dallas ($12.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 31% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $919k (7.3% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $18.4m against liabilities of $3.3m, net assets of $15.2m. It reported 147 employees.