Cedar Lane Senior Living Community I Inc

Analysis

Cedar Lane Senior Living Community I Inc is a registered charity in United States, based in Leonardtown, MD. It received its IRS tax-exemption ruling in November 1971, 55 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 December 2023, Cedar Lane Senior Living Community I Inc reported income of $2.4m and spending of $2.1m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $2.4m (+49%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cedar Lane Senior Living Community I Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MD. Charities of a similar size with the same main cause include East Meadow Soccer Club ($2.4m), Association of School Business Officials International ($2.4m) and Charleston Library Society ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $153k (7.2% of expenses). Other salaries and wages came to $669k. At year end it held assets of $7.1m against liabilities of $4.9m, net assets of $2.1m. It reported 38 employees.