Colony Retirement Homes III Inc

Analysis

Colony Retirement Homes III 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 III Inc reported income of $2.9m and spending of $2.9m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $2.9m (+27%), an average of +6.1% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 116% 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 III 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 87th percentile within MA. Charities of a similar size with the same main cause include Advanced Leadership Institute Inc ($2.9m), Interlink Ministries Inc ($2.9m) and New York & New Jersey Minority Supplier Development Council Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $59k (2.0% of expenses). Other salaries and wages came to $457k. At year end it held assets of $6.1m against liabilities of $9.5m, net assets of -$3.3m.