The Silvercrest Center for Nursing and Rehabilitation

Analysis

The Silvercrest Center for Nursing and Rehabilitation is a registered charity in United States, based in Briarwood, NY. It received its IRS tax-exemption ruling in November 1988, 38 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, The Silvercrest Center for Nursing and Rehabilitation reported income of $62.6m and spending of $69.8m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $58.0m to $62.6m (+7.8%), an average of +1.9% a year. The sharpest change came in the year to December 2022, when income rose by 15%. Over the whole period it spent 109% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, The Silvercrest Center for Nursing and Rehabilitation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Oneshare Health LLC ($62.5m), Coastal Horizons Center Inc ($62.6m) and North Canyon Medical Center Inc ($62.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $2.0m (2.9% of expenses). Other salaries and wages came to $28.4m. At year end it held assets of $32.0m against liabilities of $60.6m, net assets of -$28.6m. It reported 538 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.