Atlantic Health System Inc

Analysis

Atlantic Health System Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in September 2006, 20 years ago. 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, Atlantic Health System Inc reported income of $4.24bn and spending of $4.01bn, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.19bn to $4.24bn (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 15%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Atlantic Health System 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 NJ. Charities of a similar size with the same main cause include Methodist Hospital Group ($3.93bn), Mercy Care ($4.85bn) and Nationwide Childrens Hospital ($3.89bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.9% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $68.6m (1.7% of expenses). Other salaries and wages came to $1.81bn. At year end it held assets of $6.06bn against liabilities of $2.66bn, net assets of $3.40bn. It reported 23,126 employees.