Beth Israel Lahey Health Inc HCSR

Analysis

Beth Israel Lahey Health Inc HCSR is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Beth Israel Lahey Health Inc HCSR reported income of $553.9m and spending of $603.8m, spending 109% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $49.6m to $553.9m (+1017%), an average of +83% a year. The sharpest change came in the year to September 2021, when income rose by 182%. Over the whole period it spent 107% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Beth Israel Lahey Health Inc HCSR sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Yakima Valley Memorial Hospital Association ($553.3m), William W Backus Hospital ($556.0m) and Metropolitan Hospital ($553.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $21.3m (3.5% of expenses). Other salaries and wages came to $245.1m. At year end it held assets of $586.9m against liabilities of $759.9m, net assets of -$173.0m. It reported 166 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.