Central Virginia Health Services Inc

Analysis

Central Virginia Health Services Inc is a registered charity in United States, based in New Canton, VA. It received its IRS tax-exemption ruling in May 1971, 55 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 March 2023, Central Virginia Health Services Inc reported income of $72.4m and spending of $65.1m, spending 90% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $48.8m to $72.4m (+48%), an average of +14% a year. The sharpest change came in the year to March 2022, when income rose by 21%. Over the whole period it spent 83% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Central Virginia Health Services Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Elk Regional Health Center ($72.3m), Long Island Jewish Medical Center at Home Pharmacy Inc ($72.5m) and Mymichigan Medical Center West Branch ($72.3m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 22% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $1.3m (1.9% of expenses). Other salaries and wages came to $33.3m. At year end it held assets of $81.8m against liabilities of $15.9m, net assets of $65.9m. It reported 597 employees.