Hebrew Old Age Center of Atlantic City

Analysis

Hebrew Old Age Center of Atlantic City is a registered charity in United States, based in Galloway TWP, NJ. It received its IRS tax-exemption ruling in November 1952, 74 years ago. 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 December 2023, Hebrew Old Age Center of Atlantic City reported income of $18.7m and spending of $18.6m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $15.4m to $18.7m (+21%), an average of +5.0% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hebrew Old Age Center of Atlantic City sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include York County Board of Disabilities and Special Needs ($18.7m), Community Housing Development Corporation of North Richmond ($18.7m) and Lifecare Hospice ($18.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.6% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $404k (2.2% of expenses). Other salaries and wages came to $10.6m. At year end it held assets of $14.7m against liabilities of $24.6m, net assets of -$9.8m. It reported 252 employees.