Waverly Heights

Analysis

Waverly Heights is a registered charity in United States, based in Gladwyne, PA. It received its IRS tax-exemption ruling in November 1992, 34 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, Waverly Heights reported income of $39.9m and spending of $39.2m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $36.1m to $39.9m (+11%), an average of +2.5% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Waverly Heights sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within PA. Charities of a similar size with the same main cause include Forestdale Inc ($39.9m), Well-Spring Ret Community ($39.9m) and St Josephs Center ($39.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.0% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $2.2m (5.6% of expenses). Other salaries and wages came to $11.9m. At year end it held assets of $170.3m against liabilities of $186.1m, net assets of -$15.8m. It reported 394 employees.