Swedish Health Services

Analysis

Swedish Health Services is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in September 1934, 92 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Swedish Health Services reported income of $3.01bn and spending of $3.04bn, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.55bn to $3.01bn (+18%), an average of +4.2% a year. Over the whole period it spent 99% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Swedish Health Services 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 WA. Charities of a similar size with the same main cause include Norton Hospitals Inc ($3.00bn), Trinity Health-Michigan ($3.04bn) and North Carolina Baptist Hospital ($2.97bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $498k (0.0% of expenses). Other salaries and wages came to $1.22bn. At year end it held assets of $3.13bn against liabilities of $2.85bn, net assets of $284.2m. It reported 14,234 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.