Ascension Seton

Analysis

Ascension Seton is a registered charity in United States, based in Saint Louis, MO. It received its IRS tax-exemption ruling in August 2009, 17 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, Ascension Seton reported income of $3.01bn and spending of $2.63bn, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.15bn to $3.01bn (+40%), an average of +8.8% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ascension Seton 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 MO. Charities of a similar size with the same main cause include Chancellor Masters and Scholars of the University of Cambridge ($2.80bn), Albany Medical Center Group Organization ($3.04bn) and University Health Network ($2.43bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.8% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $3.6m (0.1% of expenses). Other salaries and wages came to $793.5m. At year end it held assets of $2.80bn against liabilities of $1.42bn, net assets of $1.38bn. It reported 16,118 employees.