Centrastate Assisted Living Inc

Analysis

Centrastate Assisted Living Inc is a registered charity in United States, based in Freehold, NJ. It received its IRS tax-exemption ruling in June 1998, 28 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Centrastate Assisted Living Inc reported income of $5.7m and spending of $7.2m, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.0m to $5.7m (-4.4%), an average of -1.1% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 121% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Centrastate Assisted Living Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Family Support Center of South Sound ($5.7m), Shasta County Young Mens Christian Association ($5.7m) and Urban League of Greater Miami Inc ($5.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $187k (2.6% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $6.3m against liabilities of $9.0m, net assets of -$2.7m. It reported 91 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.