Scandinavian Home Inc

Analysis

Scandinavian Home Inc is a registered charity in United States, based in Cranston, RI. It received its IRS tax-exemption ruling in March 1951, 75 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Scandinavian Home Inc reported income of $9.5m and spending of $11.0m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.5m to $9.5m (-9.5%), an average of -2.5% a year. The sharpest change came in the year to December 2021, when income rose by 24%. Over the whole period it spent 105% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Scandinavian Home Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within RI. Charities of a similar size with the same main cause include Providence Health Care Foundation Eastern Washington ($9.5m), Baptist Memorial Regional Rehabilitation Services Inc ($9.5m) and Aspire Developmental Services Inc ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $307k (2.8% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $11.6m against liabilities of $4.0m, net assets of $7.6m. It reported 174 employees.