Margaretville Nursing Home Inc

Analysis

Margaretville Nursing Home Inc is a registered charity in United States, based in Margaretville, NY. It received its IRS tax-exemption ruling in February 1992, 34 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Margaretville Nursing Home Inc reported income of $3.7m and spending of $9.5m, spending 259% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.9m to $3.7m (-47%), an average of -15% a year. The sharpest change came in the year to December 2022, when income dropped by 28%. Over the whole period it spent 162% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Margaretville Nursing Home Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Lighthouse for the Blind of Houston ($3.7m), Greater Hickory Cooperative Christian Ministry ($3.7m) and Ronald McDonald House Charities of North Central Florida Inc ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.9% and program service revenue 98% of the total. Other salaries and wages came to $4.3m. At year end it held assets of $3.7m against liabilities of $6.0m, net assets of -$2.3m. It reported 90 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.