Physical Medicine Specialists Inc

Analysis

Physical Medicine Specialists Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in December 1998, 28 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, Physical Medicine Specialists Inc reported income of $11.2m and spending of $13.8m, spending 123% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $7.4m to $11.2m (+51%), an average of +8.6% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 123% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Physical Medicine Specialists Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include T J Regional Health Inc ($11.2m), St Vincent Dunn Hospital Inc ($11.2m) and HMS School for Children with Cerebral Palsy ($11.2m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $892k (6.5% of expenses). Other salaries and wages came to $8.2m. At year end it held assets of $4.0m against liabilities of $16.7m, net assets of -$12.7m. It reported 110 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.