Spectrum Health Care Inc
Spectrum Health Care Inc: Strong Revenue Growth, but Transparency Lacking
EIN: 222512383 · Jersey City, NJ · NTEE: E70Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $7.2M |
| Total Expenses | $6.0M |
| Program Spending | 70% |
| Net Assets | $4.8M |
| Transparency Score | 75/100 |
Is Spectrum Health Care Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spectrum Health Care Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Spectrum Health Care Inc
Spectrum Health Care Inc (EIN: 222512383) is a nonprofit organization based in Jersey City, NJ, classified under NTEE code E70Z. The organization reported total revenue of $7.2M and total assets of $4.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spectrum Health Care Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spectrum Health Care Inc is a mid-size nonprofit that has been operating for 42 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.4M |
| Total Expenses | $6.0M |
| Surplus / Deficit | +$1.5M |
| Total Assets | $4.8M |
| Total Liabilities | $27K |
| Net Assets | $4.8M |
| Operating Margin | 19.5% |
| Debt-to-Asset Ratio | 0.6% |
| Months of Reserves | 9.6 months |
Financial Health Grade: A
In 2024, Spectrum Health Care Inc reported a surplus of $1.5M with revenue exceeding expenses, holds 9.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.6% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Spectrum Health Care Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +22.9% | +16.6% | +36.4% |
| 2023 | -7.8% | +6.1% | +34.7% |
| 2022 | +65.8% | +32.3% | +68.9% |
| 2021 | +23.1% | -2.0% | +47.3% |
| 2020 | -7.7% | +8.8% | -14.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Spectrum Health Care Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Spectrum Health Care Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.6%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further information.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Spectrum Health Care Inc's IRS 990 filings:
- Lack of detailed program spending breakdown beyond general expenses.
- Limited public information on specific program outcomes and impact.
Strengths
The following positive indicators were identified for Spectrum Health Care Inc:
- Consistent revenue growth over the past several years, from $2,719,556 in 2017 to $7,441,498 in 2024.
- Healthy asset growth, increasing from $944,715 in 2017 to $4,802,173 in 2024.
Frequently Asked Questions about Spectrum Health Care Inc
Is Spectrum Health Care Inc a legitimate charity?
Spectrum Health Care Inc (EIN: 222512383) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $7.2M. 2 red flags identified. 2 strengths noted. Financial health grade: A.
How does Spectrum Health Care Inc spend its money?
Spectrum Health Care Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Spectrum Health Care Inc tax-deductible?
Spectrum Health Care Inc is registered as a tax-exempt nonprofit (EIN: 222512383). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Spectrum Health Care Inc's spending goes to programs?
Spectrum Health Care Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Spectrum Health Care Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Spectrum Health Care Inc is above average for NTEE category E70Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Spectrum Health Care Inc located?
Spectrum Health Care Inc is headquartered in Jersey City, New Jersey and files with the IRS under EIN 222512383. It is classified under NTEE code E70Z.
How many years of IRS 990 filings does Spectrum Health Care Inc have?
Spectrum Health Care Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $7.2M in total revenue.
What does Spectrum Health Care Inc do?
Spectrum Health Care Inc is a nonprofit organization in the Health Care sector, located in Jersey City, New Jersey. It is classified under NTEE code E70Z.
How much revenue does Spectrum Health Care Inc have?
Spectrum Health Care Inc reported total revenue of $7,184,321. Based on 14 IRS 990 filings on record.
What are Spectrum Health Care Inc's total assets?
Spectrum Health Care Inc holds total assets of $4,700,973 as reported in IRS 990 filings.
Where is Spectrum Health Care Inc located?
Spectrum Health Care Inc is based in Jersey City, New Jersey.
What is Spectrum Health Care Inc's EIN?
Spectrum Health Care Inc's Employer Identification Number (EIN) is 222512383. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Spectrum Health Care Inc?
Spectrum Health Care Inc is classified under NTEE code E70Z (Health Care).
Is Spectrum Health Care Inc a registered 501(c)(3)?
Yes, Spectrum Health Care Inc is recognized as a tax-exempt organization by the IRS. EIN: 222512383.
Does Spectrum Health Care Inc file IRS Form 990?
Yes, Spectrum Health Care Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Spectrum Health Care Inc's revenue in 2024?
In the 202406 filing period, Spectrum Health Care Inc reported total revenue of $7,441,498, total expenses of $5,990,374, and net assets of $4,802,173.
Is Spectrum Health Care Inc's revenue growing or declining?
Spectrum Health Care Inc's revenue is growing. Revenue went from $6,055,338 (202306) to $7,441,498 (202406), a +22.9% change. Based on 14 filings on record.
What is Spectrum Health Care Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Spectrum Health Care Inc covers tax period 202406. It shows revenue of $7,441,498, expenses of $5,990,374, total assets of $4,802,173, and liabilities of $26,959.
How much does Spectrum Health Care Inc spend on programs vs administration?
Based on IRS 990 analysis, Spectrum Health Care Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Spectrum Health Care Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Spectrum Health Care Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 2 strengths noted.
What are the red flags for Spectrum Health Care Inc?
The following concerns were identified: Lack of detailed program spending breakdown beyond general expenses.. Limited public information on specific program outcomes and impact.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Spectrum Health Care Inc's strengths?
Positive indicators for Spectrum Health Care Inc include: Consistent revenue growth over the past several years, from $2,719,556 in 2017 to $7,441,498 in 2024.. Healthy asset growth, increasing from $944,715 in 2017 to $4,802,173 in 2024.. These findings are derived from AI analysis of the organization's financial filings.
How does Spectrum Health Care Inc compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further information. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant increase in revenue and assets, how has Spectrum Health Care Inc. scaled its direct program services to meet growing community needs?
While revenue has grown from $2,719,556 in 2017 to $7,441,498 in 2024, and assets from $944,715 to $4,802,173 in the same period, the available data does not provide a granular breakdown of program expenses versus administrative and fundraising costs to assess the direct impact of this growth on service delivery.
Filing History
IRS 990 filing history for Spectrum Health Care Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Spectrum Health Care Inc's revenue has grown by 163.7%, moving from $2.8M to $7.4M. Total assets increased by 477.2% over the same period, from $832K to $4.8M. Total functional expenses rose by 112.4%, from $2.8M to $6.0M. In its most recent filing year (2024), Spectrum Health Care Inc reported a surplus of $1.5M, with revenue exceeding expenses. The organization holds $27K in liabilities against $4.8M in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $4.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $7.4M | $6.0M | $4.8M | $27K | — | View 990 |
| 2023 | $6.1M | $5.1M | $3.5M | $197K | — | View 990 |
| 2022 | $6.6M | $4.8M | $2.6M | $208K | — | View 990 |
| 2021 | $4.0M | $3.7M | $1.5M | $866K | — | View 990 |
| 2020 | $3.2M | $3.7M | $1.1M | $670K | — | View 990 |
| 2019 | $3.5M | $3.4M | $1.2M | $244K | — | View 990 |
| 2018 | $3.2M | $2.9M | $1.2M | $255K | — | View 990 |
| 2017 | $2.7M | $2.7M | $945K | $281K | — | View 990 |
| 2016 | $3.0M | $2.7M | $897K | $289K | — | View 990 |
| 2015 | $2.8M | $2.7M | $691K | $375K | — | View 990 |
| 2014 | $2.7M | $2.8M | $641K | $433K | — | View 990 |
| 2013 | $2.9M | $3.0M | $749K | $400K | — | View 990 |
| 2012 | $2.8M | $2.8M | $903K | $475K | — | View 990 |
| 2011 | $2.8M | $2.8M | $832K | $410K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $7.4M, expenses of $6.0M, and assets of $4.8M (revenue +22.9% year-over-year).
- 2023: Revenue of $6.1M, expenses of $5.1M, and assets of $3.5M (revenue -7.8% year-over-year).
- 2022: Revenue of $6.6M, expenses of $4.8M, and assets of $2.6M (revenue +65.8% year-over-year).
- 2021: Revenue of $4.0M, expenses of $3.7M, and assets of $1.5M (revenue +23.1% year-over-year).
- 2020: Revenue of $3.2M, expenses of $3.7M, and assets of $1.1M (revenue -7.7% year-over-year).
- 2019: Revenue of $3.5M, expenses of $3.4M, and assets of $1.2M (revenue +10.2% year-over-year).
- 2018: Revenue of $3.2M, expenses of $2.9M, and assets of $1.2M (revenue +16.3% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.7M, and assets of $945K (revenue -9.5% year-over-year).
- 2016: Revenue of $3.0M, expenses of $2.7M, and assets of $897K (revenue +6.7% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.7M, and assets of $691K (revenue +4.3% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.8M, and assets of $641K (revenue -6.7% year-over-year).
- 2013: Revenue of $2.9M, expenses of $3.0M, and assets of $749K (revenue +3.0% year-over-year).
- 2012: Revenue of $2.8M, expenses of $2.8M, and assets of $903K (revenue -0.4% year-over-year).
- 2011: Revenue of $2.8M, expenses of $2.8M, and assets of $832K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spectrum Health Care Inc:
Data Sources and Methodology
This transparency report for Spectrum Health Care Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.