Central Baptist Home for the Aged

Analysis

Central Baptist Home for the Aged is a registered charity in United States, based in Norridge, IL. It received its IRS tax-exemption ruling in April 1953, 73 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, Central Baptist Home for the Aged reported income of $24.8m and spending of $22.0m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.9m to $24.8m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Central Baptist Home for the Aged 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 98th percentile, and in the 97th percentile within IL. Charities of a similar size with the same main cause include The Arc of North Carolina Inc ($24.8m), Center for Families and Children ($24.8m) and Jefferson County Committee for Economic Opportunity ($24.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $900k (4.1% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $61.1m against liabilities of $18.5m, net assets of $42.6m. It reported 359 employees.