Caromont Health Services Inc

Analysis

Caromont Health Services Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in May 1986, 40 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 June 2023, Caromont Health Services Inc reported income of $19.9m and spending of $17.4m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.2m to $19.9m (+30%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 16%. Over the whole period it spent 91% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Caromont Health Services Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Jackson Recovery Centers Inc ($19.9m), Lower Lights Christian Health Center Inc ($19.9m) and Buckelew Programs ($19.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $8.2m. At year end it held assets of $8.6m against liabilities of $998k, net assets of $7.6m. It reported 190 employees.