Faatz-Crofut Home for the Elderly

Analysis

Faatz-Crofut Home for the Elderly is a registered charity in United States, based in Auburn, NY. It received its IRS tax-exemption ruling in July 1973, 53 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, Faatz-Crofut Home for the Elderly reported income of $1.7m and spending of $1.8m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.7m (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2020, when income rose by 30%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faatz-Crofut Home for the Elderly sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Acaciawood School ($1.7m), Bronx Overall Economic Development Corporation ($1.7m) and Easy K Foundation Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.8% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $64k (3.6% of expenses). Other salaries and wages came to $976k. At year end it held assets of $12.6m against liabilities of $141k, net assets of $12.4m. It reported 63 employees.