Old Saybrook Senior Housing Incorporated

Analysis

Old Saybrook Senior Housing Incorporated is a registered charity in United States, based in Old Saybrook, CT. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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 June 2023, Old Saybrook Senior Housing Incorporated reported income of $643k and spending of $670k, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $602k to $643k (+6.8%), an average of +1.7% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Old Saybrook Senior Housing Incorporated sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within CT. Charities of a similar size with the same main cause include Tri County Chapter of Christian Life Resources ($643k), Tanner Trust for Utah Universities ($643k) and Lincoln County Coalition Against Child Abuse Inc ($643k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $114k. At year end it held assets of $2.3m against liabilities of $1.7m, net assets of $552k.

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.