Village East Retirement Communityinc

Analysis

Village East Retirement Communityinc is a registered charity in United States, based in San Angelo, TX. It received its IRS tax-exemption ruling in July 2007, 19 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 June 2023, Village East Retirement Communityinc reported income of $833k and spending of $1.4m, spending 169% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $641k to $833k (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 152% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Village East Retirement Communityinc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within TX. Charities of a similar size with the same main cause include Laredo-Webb Neighborhood Housing Services Inc ($833k), Miami Beach Senior Citizens Housing Development Corporation Inc ($833k) and Shirts Across America ($833k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 92% of the total. Compensation of current officers, directors and key employees was $88k (6.2% of expenses). Other salaries and wages came to $137k. At year end it held assets of $9.4m against liabilities of $12.3m, net assets of -$2.9m. It reported 4 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.