Craigside Retirement Residence

Analysis

Craigside Retirement Residence is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in October 2007, 19 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 December 2023, Craigside Retirement Residence reported income of $24.0m and spending of $26.3m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.6m to $24.0m (+11%), an average of +2.7% a year. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Craigside Retirement Residence sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within HI. Charities of a similar size with the same main cause include Western Youth Services ($24.0m), Sacramento Chinese Community Service Center Inc ($24.0m) and Estelle Peabody Memorial Home Inc ($24.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 99% of the total. Other salaries and wages came to $10.1m. At year end it held assets of $60.9m against liabilities of $111.9m, net assets of -$51.0m.

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.