St Vincent Medical Group

Analysis

St Vincent Medical Group is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, St Vincent Medical Group reported income of $122.4m and spending of $149.6m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $95.6m to $122.4m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2020, when income rose by 22%. Over the whole period it spent 120% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, St Vincent Medical Group sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within AZ. Charities of a similar size with the same main cause include Grand Itasca Clinic and Hospital ($122.2m), Northeastern Vermont Regional Hospital Inc ($122.4m) and Moses Cone Affiliated Physicians Inc ($122.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $584k (0.4% of expenses). Other salaries and wages came to $76.8m. At year end it held assets of $62.6m against liabilities of $284.5m, net assets of -$221.9m. It reported 250 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.