Springpoint Senior Living Inc

Analysis

Springpoint Senior Living Inc is a registered charity in United States, based in Wall Township, NJ. It received its IRS tax-exemption ruling in January 1997, 29 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Springpoint Senior Living Inc reported income of $237.3m and spending of $254.6m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $202.7m to $237.3m (+17%), an average of +4.0% a year. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Springpoint Senior Living Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Bancroft a New Jersey Nonprofit Corporation ($236.9m), Lutheran Senior Services ($238.8m) and Lifespace Communities Inc ($236.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $322k (0.1% of expenses). Other salaries and wages came to $76.1m. At year end it held assets of $786.2m against liabilities of $912.4m, net assets of -$126.2m. It reported 2,010 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.