Sarah a Reed Retirement Center

Analysis

Sarah a Reed Retirement Center is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in July 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Sarah a Reed Retirement Center reported income of $16.5m and spending of $17.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.1m to $16.5m (+2.3%), an average of +0.6% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sarah a Reed Retirement Center sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Nueces County Community Action Agency ($16.5m), Shadowfax Corporation ($16.5m) and Wayne Action Group for Economic Solvency Inc ($16.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $345k (2.0% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $36.8m against liabilities of $10.3m, net assets of $26.5m. It reported 345 employees.