Pioneer Valley Cardiology Associates Inc

Analysis

Pioneer Valley Cardiology Associates Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in May 2014, 12 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, Pioneer Valley Cardiology Associates Inc reported income of $8.7m and spending of $17.7m, spending 203% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.3m to $8.7m (+5.4%), an average of +1.3% a year. The sharpest change came in the year to June 2022, when income rose by 68%. Over the whole period it spent 155% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Pioneer Valley Cardiology Associates Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within CT. Charities of a similar size with the same main cause include Brown Physicians Inc ($8.7m), Heartland Regional Alcohol & Drug Assessment Center Inc ($8.7m) and Genesys Hurley Cancer Institute ($8.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $1.3m against liabilities of $2.6m, net assets of -$1.3m.

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.