Jennie B Richmond Chaffee Nursing Home Co

Analysis

Jennie B Richmond Chaffee Nursing Home Co is a registered charity in United States, based in Springville, NY. It received its IRS tax-exemption ruling in February 1973, 53 years ago. 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, Jennie B Richmond Chaffee Nursing Home Co reported income of $6.0m and spending of $6.7m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.8m to $6.0m (-13%), an average of -3.4% a year. The sharpest change came in the year to December 2021, when income dropped by 18%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Jennie B Richmond Chaffee Nursing Home Co sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Boys & Girls Club of Stamford Inc ($6.0m), Rural Life Foundation Inc ($6.0m) and The Riverbend Center for Montessori Excellence Inc ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $63k (0.9% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $2.1m against liabilities of $2.7m, net assets of -$598k. It reported 115 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.