Cypress Cove at Healthpark Florida Inc

Analysis

Cypress Cove at Healthpark Florida Inc is a registered charity in United States, based in Fort Myers, FL. It received its IRS tax-exemption ruling in October 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Cypress Cove at Healthpark Florida Inc reported income of $51.6m and spending of $52.6m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $42.4m to $51.6m (+22%), an average of +5.0% a year. The sharpest change came in the year to September 2023, when income rose by 27%. Over the whole period it spent 110% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cypress Cove at Healthpark Florida Inc 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 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Emerge Inc ($51.6m), Jawonio Inc ($51.6m) and Living Resources Corp ($51.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.7% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $885k (1.7% of expenses). Other salaries and wages came to $14.5m. At year end it held assets of $312.1m against liabilities of $349.2m, net assets of -$37.0m. It reported 533 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.