Foundation for Physician Advancement

Analysis

Foundation for Physician Advancement is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in February 2022, 4 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 December 2023, Foundation for Physician Advancement reported income of $376k and spending of $357k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $216k to $376k (+74%), an average of +74% a year. The sharpest change came in the year to December 2023, when income rose by 74%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Foundation for Physician Advancement sits at the 51st percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within NC. Charities of a similar size with the same main cause include Power of Pain Foundation Inc ($376k), Sunlight Village ($376k) and Mind&melody Inc ($376k).

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 $92k (26% of expenses). At year end it held assets of $101k against liabilities of $32k, net assets of $70k.