Genesis Health Inc

Analysis

Genesis Health Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in April 1983, 43 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Genesis Health Inc reported income of $49.5m and spending of $45.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $61.7m to $49.5m (-20%), an average of -5.4% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 75% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Genesis Health 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 West Side Community Health Services Inc ($49.4m), Geisinger Jersey Shore Hospital ($49.5m) and Natchaug Hospital Inc ($49.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 64% of the total. Compensation of current officers, directors and key employees was $2.5m (5.5% of expenses). Other salaries and wages came to $15.0m. At year end it held assets of $596.2m against liabilities of $326.6m, net assets of $269.6m. It reported 315 employees.