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When Billion-Dollar Non-Profits Stop Looking Like Charities
When Billion-Dollar Non-Profits Stop Looking Like Charities
Authored by Jeff Patch via RealClearMarkets,
AltaMed Health Services reported $1.72 billion in revenue in 2024, which is more than many publicly traded healthcare companies. Yet unlike a public corporation, the nonprofit entity answers to no shareholders, enjoys broad tax exemptions, and derives much of its revenue from taxpayer-supported healthcare programs.
AltaMed also reported $1.66 billion in assets and its revenues exceeded expenses by $68.4 million. It operates more than 70 clinics, employs roughly 5,000 people, and serves more than 700,000 patients throughout Southern California,...
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