Park Terrace Assisted Living Inc

Analysis

Park Terrace Assisted Living Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in December 2006, 20 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Park Terrace Assisted Living Inc reported income of $3.1m and spending of $2.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $3.1m (+17%), an average of +3.9% a year. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Park Terrace Assisted Living 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 89th percentile, and in the 88th percentile within MN. Charities of a similar size with the same main cause include Homestretch Nonprofit Housing Corporation ($3.1m), Sunshine Christian Homes Inc ($3.1m) and Front Porch Housing ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $5.8m against liabilities of $3.5m, net assets of $2.2m. It reported 60 employees.