Carlsbad Senior Community Corporation

Analysis

Carlsbad Senior Community Corporation is a registered charity in United States, based in Farmington, NM. It received its IRS tax-exemption ruling in September 2007, 19 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Carlsbad Senior Community Corporation reported income of $160k and spending of $233k, spending 146% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $151k to $160k (+6.2%), an average of +1.5% a year. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Carlsbad Senior Community Corporation sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 45th percentile within NM. Charities of a similar size with the same main cause include Boreal Development ($160k), Buena Vista Community Inc ($160k) and Base Camp Village Inc ($160k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Other salaries and wages came to $24k. At year end it held assets of $1.6m against liabilities of $2.0m, net assets of -$410k.

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.