Community Aging and Retirement Services Inc

Analysis

Community Aging and Retirement Services Inc is a registered charity in United States, based in Hudson, FL. It received its IRS tax-exemption ruling in September 1974, 52 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 2022, Community Aging and Retirement Services Inc reported income of $3.8m and spending of $4.3m, spending 115% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $4.6m to $3.8m (-18%), an average of -6.2% a year. The sharpest change came in the year to December 2020, when income dropped by 19%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Community Aging and Retirement Services Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include The Community Foundation for Ocala Marion County Inc ($3.8m), Davis Phinney Foundation ($3.8m) and New Dawn Incorporated ($3.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 91% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $227k (5.2% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $2.9m against liabilities of $1.2m, net assets of $1.6m.