Industry Convalescent Hospital

Analysis

Industry Convalescent Hospital is a registered charity in United States, based in City Industry, CA. It received its IRS tax-exemption ruling in December 1976, 50 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 June 2023, Industry Convalescent Hospital reported income of $7.1m and spending of $12.4m, spending 175% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $11.6m to $7.1m (-39%), an average of -12% a year. The sharpest change came in the year to June 2023, when income dropped by 35%. Over the whole period it spent 126% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Industry Convalescent Hospital sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Crater Community Hospice Inc ($7.1m), Baptist Memorial Home Care Inc ($7.1m) and Cerebral Palsy Research Foundation of Kansas Inc ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $256k (2.1% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $2.0m against liabilities of $61.4m, net assets of -$59.4m. It reported 142 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.