Penn State Health

Analysis

Penn State Health is a registered charity in United States, based in Hershey, PA. It received its IRS tax-exemption ruling in March 2016, 10 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 June 2023, Penn State Health reported income of $601.2m and spending of $881.3m, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $301.8m to $601.2m (+99%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 41%. Over the whole period it spent 132% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Penn State Health 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 100th percentile, and in the 100th percentile within PA. Charities of a similar size with the same main cause include Mercy Medical Center Inc ($599.5m), Medical Center of the Rockies ($604.1m) and Beebe Medical Center Inc ($597.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $11.1m (1.3% of expenses). Other salaries and wages came to $428.6m. At year end it held assets of $1.46bn against liabilities of $2.29bn, net assets of -$831.8m. It reported 5,701 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.