Slovene Home for the Aged

Analysis

Slovene Home for the Aged is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in July 1964, 62 years ago. 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, Slovene Home for the Aged reported income of $8.3m and spending of $12.2m, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.3m to $8.3m (-32%), an average of -9.2% a year. The sharpest change came in the year to December 2021, when income dropped by 39%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Slovene Home for the Aged sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within OH. Charities of a similar size with the same main cause include The Bernard and Ruth Siegel Jewish Community Center of Delaware Inc ($8.3m), Science and Arts Academy ($8.4m) and Broward Performing Arts Foundation Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $182k (1.5% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $20.6m against liabilities of $9.0m, net assets of $11.5m. It reported 159 employees.