Faith Healthcare Inc

Analysis

Faith Healthcare Inc is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Faith Healthcare Inc reported income of $44.7m and spending of $44.9m, spending 100% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $1.7m to $44.7m (+2488%), an average of +196% a year. The sharpest change came in the year to December 2021, when income rose by 511%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Faith Healthcare Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within KY. Charities of a similar size with the same main cause include Sarah Ralston Foundation ($44.7m), Sacred Heart Community Service ($44.7m) and Venture Community Services Inc ($44.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Other salaries and wages came to $11.6m. At year end it held assets of $1.2m against liabilities of $1.7m, net assets of -$572k. It reported 298 employees.