St Peters Health Partners Medical Associates PC

Analysis

St Peters Health Partners Medical Associates PC is a registered charity in United States, based in Albany, NY. It received its IRS tax-exemption ruling in March 2015, 11 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, St Peters Health Partners Medical Associates PC reported income of $259.5m and spending of $281.1m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $121.3m to $259.5m (+114%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 122% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, St Peters Health Partners Medical Associates PC 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 100th percentile within NY. Charities of a similar size with the same main cause include Childrens Specialty Group Inc ($258.6m), Evangelical Community Hospital ($259.6m) and Lafayette General Health System Inc ($258.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $10.6m (3.8% of expenses). Other salaries and wages came to $196.0m. At year end it held assets of $92.1m against liabilities of $207.2m, net assets of -$115.1m. It reported 1,736 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.