Genesis Health System

Analysis

Genesis Health System is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in May 1994, 32 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 June 2023, Genesis Health System reported income of $566.6m and spending of $626.3m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $530.3m to $566.6m (+6.9%), an average of +1.7% a year. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Genesis Health 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 IA. Charities of a similar size with the same main cause include New York Blood Center Inc ($564.8m), Sarah Bush Lincoln Health Center ($568.2m) and Franklin Square Hospital Center Inc ($564.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $3.5m (0.6% of expenses). Other salaries and wages came to $234.9m. At year end it held assets of $731.1m against liabilities of $356.3m, net assets of $374.7m. It reported 4,517 employees.