Olf Senior Housing Inc

Analysis

Olf Senior Housing Inc is a registered charity in United States, based in Luthvle Timon, MD. It received its IRS tax-exemption ruling in March 1946, 80 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 June 2023, Olf Senior Housing Inc reported income of $512k and spending of $739k, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $424k to $512k (+21%), an average of +4.8% a year. Over the whole period it spent 138% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Olf Senior Housing Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Ed T Malloy Foundation ($512k), Charity Car Donation ($512k) and Clarksville Montgomery County Education Foundation ($512k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 33% of the total. Other salaries and wages came to $176k. At year end it held assets of $4.7m against liabilities of $6.8m, net assets of -$2.1m.

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.