Jerome Home

Analysis

Jerome Home is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in April 1944, 82 years ago. 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 September 2023, Jerome Home reported income of $22.3m and spending of $22.5m, spending 101% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $20.4m to $22.3m (+9.1%), an average of +2.2% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Jerome Home 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 97th percentile, and in the 97th percentile within CT. Charities of a similar size with the same main cause include Greenwich House Inc ($22.3m), Cheshire Academy ($22.3m) and Guild ($22.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $219k (1.0% of expenses). Other salaries and wages came to $11.9m. At year end it held assets of $53.9m against liabilities of $18.2m, net assets of $35.6m. It reported 369 employees.