LMW Healthcare Inc

Analysis

LMW Healthcare Inc is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in May 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 hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, LMW Healthcare Inc reported income of $125.3m and spending of $145.6m, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $76.9m to $125.3m (+63%), an average of +13% a year. The sharpest change came in the year to September 2021, when income rose by 44%. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, LMW Healthcare Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include Foundation Medical Partners Inc ($125.3m), Canadian Cancer Society ($125.5m) and Benefis Health System Inc ($125.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $561k (0.4% of expenses). Other salaries and wages came to $49.9m. At year end it held assets of $88.5m against liabilities of $93.7m, net assets of -$5.2m. It reported 1,179 employees.