Holy Redeemer Senior Citizens Facility

Analysis

Holy Redeemer Senior Citizens Facility is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in June 1993, 33 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Holy Redeemer Senior Citizens Facility reported income of $530k and spending of $598k, spending 113% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $491k to $530k (+7.9%), an average of +2.6% a year. Over the whole period it spent 113% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Holy Redeemer Senior Citizens Facility sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within OH. Charities of a similar size with the same main cause include Metowers Inc ($530k), Nysd Forsyth Housing Development Fund Company Inc ($530k) and Atlanta Berean Community Development Corporation ($530k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 68% and program service revenue 31% of the total. Other salaries and wages came to $151k. At year end it held assets of $1.2m against liabilities of $3.0m, net assets of -$1.8m.

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.