Borinquen Health Care Center Inc

Analysis

Borinquen Health Care Center Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in March 1973, 53 years ago. 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 January 2024, Borinquen Health Care Center Inc reported income of $67.6m and spending of $59.6m, spending 88% of its income. Across the 5 years on record, from January 2020 to January 2024, income grew from $45.9m to $67.6m (+47%), an average of +10% a year. The sharpest change came in the year to January 2024, when income rose by 18%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Borinquen Health Care Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. 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 Community Health Systems Inc ($67.5m), Massachusetts League of Community Health Centers Inc ($67.8m) and Goodwill of Silicon Valley ($67.5m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 45% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $3.9m (6.6% of expenses). Other salaries and wages came to $22.4m. At year end it held assets of $39.8m against liabilities of $12.6m, net assets of $27.2m. It reported 465 employees.