Baycare Medical Group Inc

Analysis

Baycare Medical Group Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in September 1996, 30 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 December 2023, Baycare Medical Group Inc reported income of $559.9m and spending of $593.4m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $395.9m to $559.9m (+41%), an average of +9.1% a year. The sharpest change came in the year to December 2023, when income rose by 15%. Over the whole period it spent 108% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Baycare Medical Group Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within FL. Charities of a similar size with the same main cause include St Agnes Healthcare Inc ($559.0m), Banner Medical Group ($560.7m) and St Lukes Hospital of Duluth ($556.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $5.7m (1.0% of expenses). Other salaries and wages came to $386.9m. At year end it held assets of $128.2m against liabilities of $655.1m, net assets of -$527.0m. It reported 2,936 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.