Terryville Retirement Community Corporattion

Analysis

Terryville Retirement Community Corporattion is a registered charity in United States, based in Terryville, CT. It received its IRS tax-exemption ruling in July 1985, 41 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, Terryville Retirement Community Corporattion reported income of $305k and spending of $374k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $341k to $305k (-10%), an average of -2.7% a year. Over the whole period it spent 122% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Terryville Retirement Community Corporattion sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include Los Altos High School Ptsa ($305k), Utah Ccim Chapter the ($305k) and Harvard-Radcliffe Collegium Musicum Inc ($305k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Other salaries and wages came to $47k. At year end it held assets of $1.1m against liabilities of $2.2m, net assets of -$1.1m.

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.