Tufts Medicine Inc

Analysis

Tufts Medicine Inc is a registered charity in United States, based in Burlington, MA. It received its IRS tax-exemption ruling in December 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Tufts Medicine Inc reported income of $18.1m and spending of $51.7m, spending 285% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $331k to $18.1m (+5367%), an average of +172% a year. The sharpest change came in the year to September 2023, when income rose by 2230%. Over the whole period it spent 706% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Tufts Medicine Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Mirmont Alcohol Rehabilitation Center ($18.1m), Healthcare Access Maryland Inc ($18.1m) and Summit Community Care Clinic Inc ($18.1m).

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 $4.7m (9.2% of expenses). Other salaries and wages came to $9.6m. At year end it held assets of $348.8m against liabilities of $268.5m, net assets of $80.3m. It reported 735 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.