Adventhealth Senior Care Inc

Analysis

Adventhealth Senior Care Inc is a registered charity in United States, based in Altamonte SPG, FL. It received its IRS tax-exemption ruling in April 1947, 79 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Adventhealth Senior Care Inc reported income of $66.4m and spending of $88.3m, spending 133% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $49.7m to $66.4m (+34%), an average of +16% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 124% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Adventhealth Senior Care Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Mercy Health Services Inc ($66.1m), National Organization for Rare Disorders Inc ($66.4m) and St Johns School ($66.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $3.9m (4.4% of expenses). Other salaries and wages came to $13.5m. At year end it held assets of $66.7m against liabilities of $30.0m, net assets of $36.7m. It reported 209 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.