Norwood Life Care Foundation

Analysis

Norwood Life Care Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 1988, 38 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Norwood Life Care Foundation reported income of $841k and spending of $393k, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $902k to $841k (-6.8%), an average of -1.8% a year. The sharpest change came in the year to December 2022, when income dropped by 17%. Over the whole period it spent 40% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Norwood Life Care Foundation sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within IL. Charities of a similar size with the same main cause include Conselyea Street Block Assoc Inc ($840k), Davie County Public Facilitiesfinancing Corporation ($841k) and Mental Health America of Virginia ($840k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% of the total. Other salaries and wages came to $170k. At year end it held assets of $19.2m against liabilities of $21k, net assets of $19.2m. It reported 4 employees.