Life Care Residences Inc

Analysis

Life Care Residences Inc is a registered charity in United States, based in Escondido, CA. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Life Care Residences Inc reported income of $2.8m and spending of $3.1m, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $140k to $2.8m (+1869%), an average of +111% a year. The sharpest change came in the year to September 2021, when income dropped by 787%. Over the whole period it spent 257% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Life Care Residences Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Live Well Foundation of South Lake ($2.8m), Planned Parenthood Cincinnati Region Foundation ($2.8m) and Trinity Health Foundation ($2.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 52% of the total. At year end it held assets of $7.0m against liabilities of $2.2m, net assets of $4.8m.

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.