Highmark Health

Analysis

Highmark Health is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in March 2012, 14 years ago. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Highmark Health reported income of $5.62bn and spending of $5.51bn, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.93bn to $5.62bn (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2021, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Highmark Health 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 PA. Charities of a similar size with the same main cause include Mercy Care ($4.85bn), Sanford ($5.74bn) and Atlantic Health System Inc ($4.24bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $39.9m (0.7% of expenses). Other salaries and wages came to $2.13bn. It paid $227k in professional fundraising fees. At year end it held assets of $4.33bn against liabilities of $2.26bn, net assets of $2.08bn. It reported 28,015 employees.