Touro University Medical Group

Analysis

Touro University Medical Group is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 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 hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Touro University Medical Group reported income of $9.6m and spending of $6.2m, leaving 35% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $335k to $9.6m (+2762%), an average of +206% a year. The sharpest change came in the year to June 2021, when income rose by 582%. Over the whole period it spent 86% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Touro University Medical Group sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Staten Island University Hospital Foundation ($9.6m), Umrc Foundation Inc ($9.6m) and Housecall Providers PC ($9.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Other salaries and wages came to $1.5m. At year end it held assets of $4.4m against liabilities of $1.7m, net assets of $2.7m. It reported 17 employees.