Cedars Elderly Home Inc

Analysis

Cedars Elderly Home Inc is a registered charity in United States, based in Methuen, MA. It received its IRS tax-exemption ruling in September 2003, 23 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 December 2023, Cedars Elderly Home Inc reported income of $484k and spending of $563k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $418k to $484k (+16%), an average of +3.7% a year. Over the whole period it spent 121% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Cedars Elderly Home Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MA. Charities of a similar size with the same main cause include Carolyns Place ($484k), Uniendo Sentimientos Oregon ($484k) and Fenton Center of Hope ($484k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 34% of the total. At year end it held assets of $2.1m against liabilities of $3.9m, net assets of -$1.8m.

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.