MCV Associated Physicians

Analysis

MCV Associated Physicians is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 2024, 2 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 June 2023, MCV Associated Physicians reported income of $632.3m and spending of $731.7m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $467.2m to $632.3m (+35%), an average of +7.9% a year. Over the whole period it spent 110% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, MCV Associated Physicians 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 VA. Charities of a similar size with the same main cause include Kalispell Regional Medical Center Inc ($629.7m), Holy Cross Hospital Inc ($632.6m) and Central Washington Health Services Association ($629.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.4% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $7.2m (1.0% of expenses). Other salaries and wages came to $430.8m. At year end it held assets of $1.74bn against liabilities of $1.90bn, net assets of -$159.7m. It reported 3,230 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.