Watts Healthcare Corporation

Analysis

Watts Healthcare Corporation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in October 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 hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Watts Healthcare Corporation reported income of $36.9m and spending of $38.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $39.3m to $36.9m (-6.0%), an average of -1.5% a year. The sharpest change came in the year to December 2021, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Watts Healthcare Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Donalsonville Hospital Inc ($36.9m), Jordan Physician Associates Inc ($37.0m) and Kidsspeace of New England ($36.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $2.1m (5.5% of expenses). Other salaries and wages came to $14.9m. At year end it held assets of $34.6m against liabilities of $13.7m, net assets of $20.9m. It reported 338 employees.