Summa Health Group Return

Analysis

Summa Health Group Return is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in May 2011, 15 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Summa Health Group Return reported income of $1.55bn and spending of $1.59bn, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.10bn to $1.55bn (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Summa Health Group Return sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within OH. Charities of a similar size with the same main cause include University of Delaware ($1.52bn), Jefferson Health Corporation ($1.56bn) and Memorial Health System ($1.51bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $2.6m (0.2% of expenses). Other salaries and wages came to $539.8m. At year end it held assets of $1.83bn against liabilities of $1.31bn, net assets of $514.6m. It reported 8,382 employees.