Finnish American Rest Home Inc

Analysis

Finnish American Rest Home Inc is a registered charity in United States, based in Lake Worth, FL. It received its IRS tax-exemption ruling in March 1976, 50 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Finnish American Rest Home Inc reported income of $8.9m and spending of $7.0m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.7m to $8.9m (+56%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 61%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Finnish American Rest Home Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include San Leandro Boys Club Inc ($8.9m), Helping Harvest Fresh Food Bank ($8.9m) and Child and Adolescent Behavioral Health ($8.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 25% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $153k (2.2% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $6.1m against liabilities of $245k, net assets of $5.9m. It reported 172 employees.