Independence Health System Inc

Analysis

Independence Health System Inc is a registered charity in United States, based in Perryville, MO. It received its IRS tax-exemption ruling in February 1971, 55 years ago. 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, Independence Health System Inc reported income of $9.3m and spending of $9.5m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.5m to $9.3m (-2.4%), an average of -0.6% a year. The sharpest change came in the year to December 2021, when income dropped by 22%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Independence Health System Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within MO. Charities of a similar size with the same main cause include The Elizabeth Richardson Center Inc ($9.3m), Southeastern Regional Medical Center ($9.3m) and New Bedford Jewish Convalescent Home Inc ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $277k (2.9% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $17.5m against liabilities of $875k, net assets of $16.6m. It reported 193 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.