Vassar Health Connecticut Inc

Analysis

Vassar Health Connecticut Inc is a registered charity in United States, based in Sharon, CT. It received its IRS tax-exemption ruling in February 2019, 7 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 September 2023, Vassar Health Connecticut Inc reported income of $49.6m and spending of $73.7m, spending 149% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $37.4m to $49.6m (+33%), an average of +7.3% a year. The sharpest change came in the year to September 2020, when income rose by 47%. Over the whole period it spent 130% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Vassar Health Connecticut Inc sits at the 93rd percentile: it is larger than about 93% 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 Montefiore Einstein Advanced Care ($49.6m), Translational Genomics Research Institute ($49.6m) and South Shore Mental Health Center Inc ($49.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.5% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $443k (0.6% of expenses). Other salaries and wages came to $29.7m. At year end it held assets of $42.1m against liabilities of $103.9m, net assets of -$61.9m. It reported 345 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.