Riverbend Medical Group Inc

Analysis

Riverbend Medical Group Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in September 2017, 9 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 June 2023, Riverbend Medical Group Inc reported income of $75.0m and spending of $94.6m, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $81.2m to $75.0m (-7.6%), an average of -2.0% a year. The sharpest change came in the year to June 2021, when income rose by 19%. 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, Riverbend Medical Group Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CT. Charities of a similar size with the same main cause include St Anns Home for the Aged ($75.0m), Bienvivir Senior Health Services ($75.2m) and Campaign for Tobacco-Free Kids ($75.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $251k (0.3% of expenses). Other salaries and wages came to $62.5m. At year end it held assets of $44.5m against liabilities of $57.7m, net assets of -$13.2m. It reported 809 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.