Oak Crest Residence Association

Analysis

Oak Crest Residence Association is a registered charity in United States, based in Elgin, IL. It received its IRS tax-exemption ruling in August 1942, 84 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, Oak Crest Residence Association reported income of $2.3m and spending of $2.1m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.3m (+33%), an average of +7.4% a year. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Oak Crest Residence Association sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Daeap-Dublin Area Emergency Assistance Program ($2.3m), New Jersey State Elks Association Charities Inc ($2.3m) and Youth Encouragement Services Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $120k (5.6% of expenses). Other salaries and wages came to $926k. At year end it held assets of $5.9m against liabilities of $2.7m, net assets of $3.2m. It reported 61 employees.