Florida Hospital Medical Group Inc

Analysis

Florida Hospital Medical Group Inc is a registered charity in United States, based in Maitland, FL. It received its IRS tax-exemption ruling in July 1990, 36 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 December 2023, Florida Hospital Medical Group Inc reported income of $1.04bn and spending of $1.05bn, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $596.0m to $1.04bn (+75%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Florida Hospital Medical Group Inc sits at the 100th percentile: it is one of the largest 1% in its cause. 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 Josephs Health System Subordinate Group Return ($1.03bn), The Governors of the University of Calgary ($1.05bn) and Atlanticare Health System Inc ($989.7m).

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 $2.7m (0.3% of expenses). Other salaries and wages came to $708.0m. At year end it held assets of $304.7m against liabilities of $228.0m, net assets of $76.7m. It reported 5,539 employees.