St Marys Residence of New York Inc

Analysis

St Marys Residence of New York Inc is a registered charity in United States, based in New York, NY. 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), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, St Marys Residence of New York Inc reported income of $2.4m and spending of $6.6m, spending 272% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.2m to $2.4m (+12%), an average of +2.9% a year. Over the whole period it spent 261% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, St Marys Residence of New York Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Northern Will County Special Recreation Association ($2.4m), St Joseph Manor ($2.4m) and Hover Senior Living Community ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.2% and program service revenue 0.6% of the total. Other salaries and wages came to $389k. At year end it held assets of $7.2m against liabilities of $57.8m, net assets of -$50.6m.

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.