Wellmont Health System

Analysis

Wellmont Health System is a registered charity in United States, based in Johnson City, TN. It received its IRS tax-exemption ruling in June 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 hospital or medical research organisation under section 501(c)(3).

In the financial year ending June 2023, Wellmont Health System reported income of $840.4m and spending of $813.8m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $713.6m to $840.4m (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellmont Health System 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 100th percentile, and in the 100th percentile within TN. Charities of a similar size with the same main cause include Torrance Memorial Medical Center ($839.8m), Mission Hospital Regional Medical Center ($840.7m) and Bridgeport Hospital ($838.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.2% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $1.6m (0.2% of expenses). Other salaries and wages came to $232.1m. At year end it held assets of $442.2m against liabilities of $166.7m, net assets of $275.5m. It reported 4,259 employees.