Atlanticare Health System Inc

Analysis

Atlanticare Health System Inc is a registered charity in United States, based in Egg HBR TWP, NJ. It received its IRS tax-exemption ruling in February 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, Atlanticare Health System Inc reported income of $989.7m and spending of $999.2m, spending 101% of its income. Across the 5 years on record, from June 2019 to December 2023, income grew from $866.3m to $989.7m (+14%), an average of +3.4% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Atlanticare Health System Inc 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 NJ. Charities of a similar size with the same main cause include Adventist Healthcare Inc ($910.2m), St Josephs Health System Subordinate Group Return ($1.03bn) and Queens University at Kingston Department of Financial Services ($894.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $3.8m (0.4% of expenses). Other salaries and wages came to $315.2m. It paid $42k in professional fundraising fees. At year end it held assets of $1.89bn against liabilities of $613.0m, net assets of $1.28bn. It reported 6,692 employees.