William B Rice Eventide Home

Analysis

William B Rice Eventide Home is a registered charity in United States, based in South Weymouth, MA. It received its IRS tax-exemption ruling in February 1949, 77 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, William B Rice Eventide Home reported income of $13.2m and spending of $14.9m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.9m to $13.2m (+48%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 120% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, William B Rice Eventide Home sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Schoellkopf Health Center ($13.2m), Bronxcare Health Integrated Services System Inc ($13.2m) and Roper St Francis Foundation ($13.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $191k (1.3% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $87.3m against liabilities of $91.2m, net assets of -$3.9m. It reported 151 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.