German Old Folks Home Inc

Analysis

German Old Folks Home Inc is a registered charity in United States, based in Lawrence, MA. It received its IRS tax-exemption ruling in June 1963, 63 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, German Old Folks Home Inc reported income of $1.4m and spending of $1.2m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.4m (+26%), an average of +6.0% a year. The sharpest change came in the year to December 2022, when income rose by 17%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, German Old Folks Home Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MA. Charities of a similar size with the same main cause include Launch ($1.4m), Multi Ethnic Advocates for Cultural Competence Inc ($1.4m) and Clinica Colorado ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Other salaries and wages came to $761k. At year end it held assets of $896k against liabilities of $197k, net assets of $699k. It reported 37 employees.