Olmsted Assisted Living Corporation

Analysis

Olmsted Assisted Living Corporation is a registered charity in United States, based in Olmsted Township, OH. It received its IRS tax-exemption ruling in June 1998, 28 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 Assisted Living Corporation reported income of $2.6m and spending of $1.6m, leaving 39% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $2.6m (+75%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 77%. Over the whole period it spent 46% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Olmsted Assisted Living Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Sojourner Truth House Inc ($2.6m), The Avenue Family Network Inc ($2.6m) and Healthy Teen Network Inc ($2.6m).

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 $886k. At year end it held assets of $12.0m against liabilities of $254k, net assets of $11.8m.