Olmsted Residence Corporation

Analysis

Olmsted Residence Corporation is a registered charity in United States, based in Olmsted Township, OH. It received its IRS tax-exemption ruling in February 1988, 38 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Olmsted Residence Corporation reported income of $8.4m and spending of $4.2m, leaving 50% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.2m to $8.4m (+1.7%), an average of +0.4% a year. Over the whole period it spent 40% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Olmsted Residence Corporation sits at the 93rd percentile: it is larger than about 93% 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 Northern Homecare Services ($8.4m), Our Calling Inc ($8.4m) and Mayflower Homes Inc ($8.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $714k. At year end it held assets of $13.9m against liabilities of $73k, net assets of $13.9m.