Oak Park Residence Corp

Analysis

Oak Park Residence Corp is a registered charity in United States, based in Oak Park, IL. It received its IRS tax-exemption ruling in April 1977, 49 years ago. 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, Oak Park Residence Corp reported income of $10.1m and spending of $10.6m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.5m to $10.1m (+34%), an average of +7.7% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Oak Park Residence Corp sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within IL. Charities of a similar size with the same main cause include Northwestern Illinois Area Agency on Aging ($10.1m), Christian Heritage School Inc ($10.1m) and Odd Fellows Home of Massachusetts ($10.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.9% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $246k (2.3% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $45.2m against liabilities of $45.5m, net assets of -$250k. It reported 56 employees.