Texas Heart Medical Group

Analysis

Texas Heart Medical Group is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Texas Heart Medical Group reported income of $19.9m and spending of $15.0m, leaving 25% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income grew from $4.4m to $19.9m (+351%), an average of +112% a year. The sharpest change came in the year to December 2021, when income rose by 212%. Over the whole period it spent 80% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Texas Heart Medical Group sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include St Vincent Clay Hospital Inc ($19.9m), Good Shepherd Geriatric Center Inc ($19.9m) and Crisis Connections ($19.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 56% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $3.5m (24% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $16.4m against liabilities of $8.8m, net assets of $7.6m. It reported 70 employees.