Colony Retirement Homes Inc

Analysis

Colony Retirement Homes Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 1964, 62 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Colony Retirement Homes Inc reported income of $3.0m and spending of $1.9m, leaving 37% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.7m to $3.0m (-37%), an average of -11% a year. The sharpest change came in the year to December 2021, when income rose by 209%. Over the whole period it spent 41% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Colony Retirement Homes Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Hampton Roads Montessori School ($3.0m), Women in Global Health Inc ($3.0m) and Boys and Girls Club of Detroit Lakes Inc ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $118k (6.3% of expenses). Other salaries and wages came to $400k. At year end it held assets of $15.1m against liabilities of $142k, net assets of $15.0m. It reported 69 employees.