Presbyterian Homes in the Presbytery of Lake Erie

Analysis

Presbyterian Homes in the Presbytery of Lake Erie is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in January 1964, 62 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Presbyterian Homes in the Presbytery of Lake Erie reported income of $33.4m and spending of $27.0m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $28.7m to $33.4m (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2023, when income rose by 18%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Presbyterian Homes in the Presbytery of Lake Erie sits at the 99th percentile: it is larger than about 98% 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 Rochambeau the French International School of Washington DC ($33.4m), CLC Administrative Services Inc ($33.4m) and Glenwood Inc ($33.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 73% of the total. Other salaries and wages came to $12.5m. At year end it held assets of $20.8m against liabilities of $2.6m, net assets of $18.2m.