Hartford Healthcare Medical Group Inc

Analysis

Hartford Healthcare Medical Group Inc is a registered charity in United States, based in Wethersfield, CT. It received its IRS tax-exemption ruling in October 2013, 13 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 September 2023, Hartford Healthcare Medical Group Inc reported income of $199.1m and spending of $199.1m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $287.3m to $199.1m (-31%), an average of -8.8% a year. The sharpest change came in the year to September 2020, when income dropped by 29%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hartford Healthcare Medical Group Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Jennie Stuart Medical Center Inc ($199.1m), Hudson Headwaters Health Network ($199.7m) and Cape Canaveral Hospital Inc ($197.7m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $1.7m (0.9% of expenses). Other salaries and wages came to $104.7m. At year end it held assets of $129.2m against liabilities of $109.8m, net assets of $19.4m. It reported 5,096 employees.