St Lucians Residence Inc

Analysis

St Lucians Residence Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending September 2023, St Lucians Residence Inc reported income of $1.2m and spending of $1.3m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.4m to $1.2m (-19%), an average of -5.0% a year. The sharpest change came in the year to September 2023, when income rose by 37%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Lucians Residence Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within CT. Charities of a similar size with the same main cause include Virginia Institute for Public Policy ($1.2m), Hope Alliance Public Benefit Non-Profit Corporation ($1.2m) and Tarry House Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 17% and program service revenue 78% of the total. Other salaries and wages came to $630k. At year end it held assets of $1.8m against liabilities of $2.1m, net assets of -$271k. It reported 20 employees.

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.