Foundcare Inc

Analysis

Foundcare Inc is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in December 2003, 23 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundcare Inc reported income of $52.1m and spending of $48.5m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $30.4m to $52.1m (+72%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 17%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Foundcare Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Rehabilitation Hospital of the Pacific ($52.1m), South County Community Health Center Inc ($52.2m) and Stony Brook Anesthesiology University Faculty Practice Corp ($52.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $3.3m (6.8% of expenses). Other salaries and wages came to $13.6m. At year end it held assets of $50.3m against liabilities of $7.6m, net assets of $42.8m. It reported 317 employees.