Coastal Medical Physicians Inc

Analysis

Coastal Medical Physicians Inc is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover health care, 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 September 2023, Coastal Medical Physicians Inc reported income of $76.3m and spending of $82.1m, spending 108% of what it took in. Across the 3 years on record, from September 2021 to September 2023, income grew from $34.6m to $76.3m (+121%), an average of +48% a year. The sharpest change came in the year to September 2022, when income rose by 135%. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Coastal Medical Physicians Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within RI. Charities of a similar size with the same main cause include Carnegie Cardiovascular PC ($76.2m), Lutheran Charity Association ($76.4m) and Unitypoint Health-Marshalltown ($76.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $2.8m (3.4% of expenses). Other salaries and wages came to $52.2m. At year end it held assets of $30.5m against liabilities of $33.8m, net assets of -$3.3m. It reported 769 employees.