Lifenet Health

Analysis

Lifenet Health is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in August 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lifenet Health reported income of $535.5m and spending of $520.2m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $441.1m to $535.5m (+21%), an average of +5.0% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lifenet Health sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within VA. Charities of a similar size with the same main cause include Sandhills Center for Mental Health Developmental Disabilities & Subst ($532.9m), Legacy Salmon Creek Hospital ($535.6m) and Group Health Cooperative of South Central Wi ($531.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $5.3m (1.0% of expenses). Other salaries and wages came to $130.0m. At year end it held assets of $637.7m against liabilities of $257.7m, net assets of $380.0m. It reported 1,680 employees.