1st Choice Healthcare Inc

Analysis

1st Choice Healthcare Inc is a registered charity in United States, based in Corning, AR. It received its IRS tax-exemption ruling in August 1992, 34 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, 1st Choice Healthcare Inc reported income of $27.5m and spending of $24.4m, spending 89% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $20.5m to $27.5m (+34%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, 1st Choice Healthcare Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within AR. Charities of a similar size with the same main cause include Goodwill Industries of Akron Inc ($27.4m), Learning Disabilities Association of Western New York Inc ($27.5m) and Vanderheyden Hall Inc ($27.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $628k (2.6% of expenses). Other salaries and wages came to $12.5m. At year end it held assets of $41.5m against liabilities of $6.8m, net assets of $34.7m. It reported 229 employees.