Retirement Community of Fairbanks

Analysis

Retirement Community of Fairbanks is a registered charity in United States, based in Fairbanks, AK. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Retirement Community of Fairbanks reported income of $3.5m and spending of $3.8m, spending 109% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $3.2m to $3.5m (+8.6%), an average of +2.1% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Retirement Community of Fairbanks sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within AK. Charities of a similar size with the same main cause include Alliance to End Homelessness in Suburban Cook County ($3.5m), Disciples Village of Tulsa ($3.5m) and Habitat for Humanity International Inc ($3.5m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 1.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $151k (4.0% of expenses). Other salaries and wages came to $662k. At year end it held assets of $24.7m against liabilities of $13.6m, net assets of $11.1m. It reported 42 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.