Spring Ridge Housing for Seniors Inc

Analysis

Spring Ridge Housing for Seniors Inc is a registered charity in United States, based in Des Plaines, IL. It received its IRS tax-exemption ruling in April 1988, 38 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 June 2024, Spring Ridge Housing for Seniors Inc reported income of $735k and spending of $952k, spending 130% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $658k to $735k (+12%), an average of +2.8% a year. Over the whole period it spent 125% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Spring Ridge Housing for Seniors Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within IL. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($735k), United Cambodian Association of Minnesota Inc ($735k) and Emergency 116 Ambulance Service Inc ($734k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $185k. At year end it held assets of $5.3m against liabilities of $5.8m, net assets of -$545k.

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.