SVMC Holdings Inc

Analysis

SVMC Holdings Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in September 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, SVMC Holdings Inc reported income of $616.3m and spending of $637.9m, spending 104% of its income. The sharpest change came in the year to September 2021, when income rose by 17%. Over the whole period it spent 104% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, SVMC Holdings Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CT. Charities of a similar size with the same main cause include Christus Good Shepherd Medical Center ($616.1m), Saint Joseph Hospital ($617.0m) and Northwest Community Hospital ($616.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.8% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $444k (0.1% of expenses). Other salaries and wages came to $182.1m. At year end it held assets of $313.2m against liabilities of $220.3m, net assets of $93.0m. It reported 2,990 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.