Advancium Health Network Inc

Analysis

Advancium Health Network Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 2023, 3 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Advancium Health Network Inc reported income of $17.0m and spending of $5.3m, leaving 69% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $50k to $17.0m (+33835%), an average of +1742% a year. The sharpest change came in the year to December 2022, when income rose by 6760%. Over the whole period it spent 41% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Advancium Health Network Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Powell Recovery Center Inc ($17.0m), Metropolitan Medical Practice Plan PC ($17.0m) and Lakeview Health Services Inc ($17.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $611k (12% of expenses). Other salaries and wages came to $781k. At year end it held assets of $18.0m against liabilities of $6.0m, net assets of $12.0m. It reported 6 employees.