Altamed Health Services Corp

Analysis

Altamed Health Services Corp is a registered charity in United States, based in Commerce, CA. It received its IRS tax-exemption ruling in October 1970, 56 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, Altamed Health Services Corp reported income of $1.48bn and spending of $1.39bn, spending 94% of its income. Across the 6 years on record, from April 2019 to December 2023, income grew from $702.1m to $1.48bn (+111%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 67%. Over the whole period it spent 92% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Altamed Health Services Corp 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 CA. Charities of a similar size with the same main cause include Phoenix Childrens Hospital ($1.48bn), St Vincent Hospital & Health Care ($1.48bn) and Piedmont Healthcare Inc ($1.48bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.5% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $7.4m (0.5% of expenses). Other salaries and wages came to $466.9m. At year end it held assets of $1.52bn against liabilities of $593.8m, net assets of $925.7m. It reported 5,735 employees.