Methodist Retirement Homes of Kentucky Inc

Analysis

Methodist Retirement Homes of Kentucky Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in July 1983, 43 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Methodist Retirement Homes of Kentucky Inc reported income of $257k and spending of $125k, leaving 51% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $242k to $257k (+6.1%), an average of +2.0% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Methodist Retirement Homes of Kentucky Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within KY. Charities of a similar size with the same main cause include Virginia Congress of Parents and Teachers ($257k), Los Angeles Jazz Society ($257k) and Fishing for Freedom Quincy ($257k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Other salaries and wages came to $15k. At year end it held assets of $1.1m against liabilities of $267k, net assets of $789k.