Health Partners Inc

Analysis

Health Partners Inc is a registered charity in United States, based in Waldorf, MD. It received its IRS tax-exemption ruling in May 1992, 34 years ago. 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 December 2023, Health Partners Inc reported income of $1.4m and spending of $1.4m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.3m to $1.4m (+7.3%), an average of +1.8% a year. The sharpest change came in the year to December 2020, when income rose by 26%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Health Partners Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include New Jersey Association of Community Providers Inc ($1.4m), Parkinsons Research and Education Foundation Inc ($1.4m) and Lutheran Brethren Home Health Services Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $85k (5.9% of expenses). Other salaries and wages came to $824k. At year end it held assets of $762k against liabilities of $79k, net assets of $683k. It reported 32 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.