Concord Nursing Home Inc

Analysis

Concord Nursing Home Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in November 1971, 55 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 December 2023, Concord Nursing Home Inc reported income of $21.0m and spending of $18.7m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.4m to $21.0m (+8.4%), an average of +2.0% a year. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Concord Nursing Home Inc 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 96th percentile within NY. Charities of a similar size with the same main cause include New Directions Housing Corporation ($21.0m), Directions for Mental Health Inc ($21.0m) and Seeds of Health ($21.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 93% of the total. Other salaries and wages came to $6.4m. At year end it held assets of $24.0m against liabilities of $27.0m, net assets of -$2.9m. It reported 166 employees.