Edgewood Retirement Community Inc

Analysis

Edgewood Retirement Community Inc is a registered charity in United States, based in North Andover, MA. It received its IRS tax-exemption ruling in April 1994, 32 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Edgewood Retirement Community Inc reported income of $29.6m and spending of $29.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $25.9m to $29.6m (+14%), an average of +3.4% a year. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Edgewood Retirement Community Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include National Childrens Center Inc ($29.6m), Unity Limited Partnership ($29.6m) and Friendship Retirement Corporation ($29.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 97% of the total. Other salaries and wages came to $11.2m. At year end it held assets of $144.1m against liabilities of $172.9m, net assets of -$28.8m. It reported 373 employees.